Latest market study on “Artificial Intelligence Chip Market to 2027 – Global Analysis and Forecasts by Segment (Data Center, Edge); Type (CPU, GPU, ASIC, FPGA, and Others); and Industry Vertical (BFSI, Retail, IT & Telecom, Automotive & Transportation, Healthcare, Media & Entertainment, and Others) and Geography– Global Analysis and Forecast”, the Artificial Intelligence Chip market is estimated to reach US$ 83,252.7 Mn by 2027 from US$ 5,658.1 Mn in 2018. The report includes a key understanding of the driving factors of this market and also highlights the prominent players in the market and their developments.
Availability of massive amounts of data, demand for superior customer service, efficient operations, and better sales revenue are some of the key factors driving the growth of the Artificial intelligence market. With the advancement in computing and storage technology, computing power has increased multi-fold during the last decade. This computing power has created new opportunities for managing and computing the big sets of data, and when coupled with artificial intelligence technology, it can deliver useful insights to businesses. Major artificial intelligence applications for which AI chips are being used include Machine Learning (ML), Natural Language Processing (NLP), Expert Systems, Automated Speech Recognition, AI Planning, and Computer Vision. Machine Learning is a branch of artificial intelligence that enables machines to develop the ability of self-learning and adaption through the experience without being explicitly programmed. It is a method of data analysis that automates analytical model building. Machine Learning is one of the most use cases of application of artificial intelligence chips.
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The global market for artificial intelligence chips is anticipated to exhibit very high growth in the near future. Some of the major driving factors contributing to the market growth include increasing investments in AI chip start-ups, and availability of a massive amount of data due to the proliferation of digital services across the globe. Real-time consumer behavior insights increased operational efficiency, and improved sales revenue are some of the factors responsible for the rising adoption of AI chips across major industry verticals. Also, growing spending on enhanced IT security is expected to drive the growth of the AI Chip market. However, there are few factors that are expected to restrain the market growth such as data privacy & security concerns, and lack of infrastructure and technology know-how in third world countries. During the forecast period, the rising adoption of cloud-based computing across industries and the adoption of artificial intelligence chips in edge devices will present significant opportunities for market players operating in the AI chip market.
With the availability of an enormous amount of data and the vast scalability of cloud-based compute power, artificial intelligence has become a massive trend across industries in these past few years. In today’s digital world, information is the key for enterprises to be successful and to maintain sustainable growth. Most industries especially the service sector rely deeply on analytics to provide them with useful business insights and enable them to remain competitive in the market. Enterprises have been continuously automating their business processes that were earlier conducted either programmatically or manually. With the advancement in AI chips and the introduction of application-specific custom chips, enterprises now have the capability to collect real-time analytics and to transform data into actionable insights. There are numerous use cases available in the Artificial Intelligence Chip market of AI being successfully implemented across various verticals.
Increasing Investments in AI Chip Start-Ups will Fuel the Market during the forecast period
Artificial intelligence and its applications such as machine learning and deep learning have been growing tremendously over the last few years. AI is being utilized extensively in numerous areas ranging from cloud computing applications to digital assistants and self-driving/autonomous vehicles. With ever-increasing use cases of AI and the evolving market landscape, the advancements in present chips have become a necessity. AI is majorly used in the data center training market where NVIDIA is a market leader. However, the demand for application-specific custom AI chips and inference on edge and data center are the fast-growing segments in the AI chip market, and many new startups are coming up to tap this market
The Prominent/Emerging Players In The Artificial Intelligence Chip Market Research Include:
- Advanced Micro Devices, Inc.
- Alphabet Inc. (Google)
- Huawei Technologies Co., Ltd.
- IBM Corporation
- Intel Corporation
- Micron technology, Inc.
- NVIDIA Corporation
- Qualcomm Incorporated
- Samsung electronics Co., Ltd.
- Xilinx, Inc.
The Artificial Intelligence Chip Market Company Profiles are individually represented for all major participants and indices such as Financial Performance, Strategic Initiatives, Product Portfolio & Company Overview.
Company overview provides information about the location of the company where it is headquartered along with the established year, employee strength as of 2017, regions where the company is operating and the key business areas.
Overall company/segment revenue for the year 2019, 2018, and 2017 is provided in the subtitle “Financial Performance” (public listed companies) along with the analysis and explanation of the increase or decrease in the same due to factors such as mergers & acquisition, profit or loss in any strategic business unit (SBUs) and others.
Product benchmarking comprises the comprehensive list of products pertaining to the respective market along with the application and key features.
Insights pertaining to the new product launch, strategic collaboration, mergers and acquisition, regulatory approval, and other developments by the company in the market are covered under the strategic initiatives section.
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The Artificial Intelligence Chip Market research study is designed to keep in focus all the major countries. Although all these countries & their market trends were accounted for while composing it, detailed sections are available for only the spearheads. In case if you would be interested in specific countries that are not covered in the current scope, kindly share the list & we can customize the study based on the geographical scope defined by you.
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