Over the past 10 to 15 years subsea processing has been globally established as a market segment within the subsea development arena. Subsea processing is expected to be a growth platform for operators and for the service companies that are developing equipment and solutions for well processing and treatment at or below the seabed. The ultimate result of the All Subsea vision is the production of hydrocarbons from reservoir directly to market. Operators and service companies have high expectations for the profitability this business offers and share the All Subsea vision of future topside-less developments.This paper examines the realism of this All Subsea vision and discusses how the vision can be implemented, based on an analysis of the current state-of-the-art technology and the gaps and barriers that may jeopardize the realization of true subsea-to-market solutions.Developing products and systems with high development costs for a limited market requires a close cooperation between the suppliers and oil companies.The paper also reflects on the history of subsea processing, the market trends, and the way subsea processing technologies are adopted by the industry, seen from the authors' perspective and with their extensive experience in developing and delivering subsea processing solutions worldwide.