PUBLISHER: Allied Market Research | PRODUCT CODE: 1059569
PUBLISHER: Allied Market Research | PRODUCT CODE: 1059569
The global artificial intelligence chip market size is expected to reach $194.90 billion by 2030 from $8.02 billion in 2020, growing at a CAGR of 37.41% from 2021 to 2030. Artificial intelligence (AI) has been the most progressive technologies since its introduction in the market. It is associated with human intelligence characteristics such as language understanding, reasoning, learning, problem solving, and others. Manufacturers in the market witness enormous underlying intellectual challenges in the development and revision of such technology. It is positioned as the core of the next-generation software technologies in the market.
The AI chip market has witnessed significant growth over the years, owing to surge in efforts to make more human-like robots and rise in rate of deployments in the developing regions. Among the industry verticals segment, BFSI dominated the market in terms of expenditure in 2020. The companies that operate in the market have adopted strategies such as collaboration, cooperation, partnership, product launch, R&D, and acquisition to increase their market share and expand their geographical presence.
The prominent factors that impact the artificial intelligence chip market growth are increase in demand for smart homes & smart cities, rise in investments in AI startups, and emergence of quantum computing. However, dearth of skilled workforce restricts the market growth. On the contrary, increased adoption of AI chips in the developing regions and development of smarter robots are expected to create lucrative opportunities for the market. Therefore, these factors are expected to definitely affect global artificial intelligence chip industry during the forecast period.
The artificial intelligence chip market is segmented on the basis of chip type, application, technology, processing type, industry vertical, and region. By chip type, the market is categorized into GPU, ASIC, FPGA, CPU, and others. The applications analyzed in the study are natural language processing (NLP), robotics, computer vision, network security, and others. System-on-chip, system-in-package, multi-chip module, and others are the technologies considered. Based on processing type, it is categorized into edge and cloud. The industry verticals considered in the study include media & advertising, BFSI, IT & telecom, retail, healthcare, automotive & transportation, and others.
Region-wise, the artificial intelligence chip market trends are analyzed across North America (the U.S., Canada, and Mexico), Europe (the UK, Germany, France, Russia, and rest of Europe), Asia-Pacific (China, Japan, India, Australia, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa). Asia-Pacific is expected to be the leading revenue contributor to the market due to an increase in adoption of AI technologies in several industries including BFSI, IT & telecom, healthcare, and automotive.
According to the competitive analysis and profiles of the major artificial intelligence chip market players, such as Advanced Micro Devices, Alphabet Inc. (Google Inc.), Apple, NXP Semiconductors N.V., Analog Devices, Inc., Intel Corporation, Mediatek, Inc., NVIDIA Corporation, Qualcomm Incorporated, and Microsemi Corporation, the companies are have focused their investment on technologically advanced, cost-effective, and more secure products & solutions for various applications.
BY CHIP TYPE
BY APPLICATION
BY TECHNOLOGY
BY PROCESSING TYPE
BY INDUSTRY VERTICAL
BY REGION