Westford, USA, June 07, 2024 (GLOBE NEWSWIRE) -- SkyQuest projects that Global Artificial Intelligence (AI) Chipsets Market will attain a value of USD 262.78 Billion by 2031, with a CAGR of 37.1% over the forecast period (2024-2031). AI or artificial intelligence chipsets which are cloud-based are special computer chips for artificial intelligence inference and training works. The market for artificial intelligence chipsets would see opportunities as cloud technology advanced. The need for AI chipsets based on cloud is anticipated to increase significantly in the coming years. This is due to the expanding number of data centres being established globally in a variety of industries, including IT & telecom, automotive, etc. Furthermore, cloud-based AI chipsets are provided by firms like NVIDIA Corporation, Alibaba Group Holding Limited, Intel Corporation, and others.
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Artificial Intelligence (AI) Chipsets Market Overview:
| Report Coverage | Details |
| Market Revenue in 2023 | $21.05 Billion |
| Estimated Value by 2031 | $262.78 Billion |
| Growth Rate | Poised to grow at a CAGR of 37.1% |
| Forecast Period | 2024–2031 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Hardware, Computing Technology, Technology, End User, Function |
| Geographies Covered | North America, Europe, Asia Pacific, Middle East & Africa, Latin America |
| Report Highlights | Trends in computing power and efficiency driving market growth |
| Key Market Opportunities | Growing potential of AI based tools in healthcare sector |
| Key Market Drivers | Catalysts for Growth in Autonomous Vehicles, Robotics, and Edge Computing |
Edge Computing can Dominate the Market Thanks to Lower Latency and Wider Bandwidth Utilization
The worldwide AI chipsets market is being led by edge computing as it leads to less delay and use of bandwidth due to local data processing. In turn, the demand has increased, and this led to the growth of the market for such ai chipsets. So, we can say that this has resulted in faster real-time decision making as well as improved efficiency in the case of driverless vehicles or IOT devices.
Effective Management of Complicated AI Algorithms, GPU Chip Type Will Rule the Sub-Segment
Their enhanced parallel processing capabilities enable GPU chips or types to dominate the world market for AI chipsets as they can handle challenging AI algorithms and substantial datasets more effectively than other designs. As a result, AI applications run faster and perform better in areas such as gaming industry, medical field and Self-driven vehicles—thereby facilitating their massive adoption and subsequent market growth.
North America Can Maintain a Large Market Share Due to the Presence of Major AI Chipset Manufacturers
With the biggest market share, North America led the global artificial intelligence (AI) chipset market in 2020. This increase can be attributed to the fact that the region is home to several big AI chipset manufacturers such as Advanced Micro Devices (AMD), Nvidia Corporation, and Intel Corporation, which are the major investors in research and development (R&D) projects concerning artificial intelligence (AI) in America.
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Artificial Intelligence (AI) Chipsets Market Insight
Drivers:
- Growing Need for Edge Computing
- Catalysts for Growth in Autonomous Vehicles and Robotics
- Demand for AI in Data Centers and Cloud Computing
Restraints:
- High Development Costs
- Complexity and Technical Difficulties
- Limited Ecosystem Support
Prominent Players in Artificial Intelligence (AI) Chipsets Market
- Tenstorrent Inc. (Canada)
- Wave Computing, Inc. (US)
- XMOS Limited (UK)
- MediaTek Inc. (Taiwan)
- GreenWaves Technologies (France)
- Koniku Inc (US)
- Kalray Corporation (France)
- Mythic Inc. (US)
- Fujitsu Limited (Japan)
- SambaNova Systems Inc (US)
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Key Questions Answered in Global Artificial Intelligence (AI) Chipsets Market Report
- What is the estimated market size for artificial intelligence (AI) chipsets globally by 2031, and what is the anticipated compound annual growth rate (CAGR) for the 2024–2031 projection period?
- What are the main advantages of edge computing, and why is it predicted to rule the AI chipset market?
- What are the reasons for North America's dominant market share in the worldwide AI chipset industry?
This report provides the following insights:
- Analysis of key drivers (Increasing need for AI chipsets in emerging technologies such as EVs, performing complex computations in real-time, reducing latency & improving efficiency and advancements in deep & machine learning), restraints (Chipsets are complex & require advanced manufacturing processes, cost of AI chipsets can be a significant barrier for startups & researchers and limited adoption of AI technology across various industries), opportunities (Introduction of AI-driven technologies such as smart cities, need for dedicated hardware acceleration and less power consumption), and challenges (New attack vectors & security flaws and needing constant investment in cybersecurity measures) influencing the growth of artificial intelligence (AI) chipsets market
- Market Penetration: Comprehensive information on the product portfolios offered by the top players in the artificial intelligence (AI) chipsets market
- Product Development/Innovation: Detailed insights on the upcoming trends, R&D activities, and product launches in the artificial intelligence (AI) chipsets market
- Market Development: Comprehensive information on lucrative emerging regions
- Market Diversification: Exhaustive information about new products, growing geographies, and recent developments in the market
- Competitive Assessment: In-depth assessment of market segments, growth strategies, revenue analysis, and products of the leading market players.
Related Reports:
Global Artificial Intelligence Market
Global Artificial Intelligence of Things (AIoT) Market
Global Edge Artificial Intelligence (AI) Market
Global Mobile Artificial Intelligence (AI) Market
Global Artificial Intelligence (AI) Robots Market
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