New York, US, June 24, 2021 (GLOBE NEWSWIRE) -- Market Overview:
According to a comprehensive research report by Market Research Future (MRFR), “Global AI Chipset Market information by Components, by Technology and Application – forecast to 2027” the market is predicted to touch USD 38.46 Billion at a whopping 39.18% CAGR between 2019- 2025.
Market Scope:
The global artificial intelligence chipset market is growing rapidly, witnessing advances in AI chipset technologies. Advancements in AI, 5G, and IoT technologies contribute to the AI chipset market growth. Moreover, increasing government initiatives to drive the development of IoT-based modules create significant market opportunities.
As the world becomes more digitized and connected, advanced technologies like AI gain significant prominence in the industrial spectrum. This, as a result, is estimated to enable AI chipsets to emerge as solutions for large-scale data processing, and the AI chipset market would garner significant accruals.
The market is majorly driven by an increase in the number of smart connected devices, the need to improve company efficiency, and an increase in reliance on the Internet. The increased need for real-time networking across industry sectors such as manufacturing, automobile, transportation, energy & utility, aerospace, and oil & gas is also aiding the market growth.
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Dominant Key Players on AI Chipset Market Covered Are:
- Micro Technology (US)
- IBM Corporation (US)
- Samsung Electronics Co. Ltd (South Korea)
- Huawei Technologies Co. Ltd (China)
- Advanced Micro Devices (US)
- Intel Corporation (US)
- NVIDIA Corporation (US)
- Qualcomm Technologies Inc. (US)
Market USP exclusively encompassed:
Market Drivers
AI chipsets, also known as AI accelerators, play a causal role in achieving the high speeds and efficiencies necessary for large-scale AI-specific calculations. Artificial intelligence is driving rapid transformation across the industrial landscape. With companies becoming more data-driven, the demand for AI is growing too.
Speech recognition, security systems, recommendation systems, medical imaging, and better supply-chain management are the areas in which AI technology has enabled organizations to execute their work efficiently, with the tools, algorithms, and computing power. AI chipsets are expected to be the most important component of future smart devices.
Rising demand for AI chipsets in industries like finance, education, logistics, transportation, and healthcare boosts the artificial intelligence chipset market growth. Besides, increasing AI-backed applications have significantly increased the demand for AI chipsets. Solution providers are making substantial investments to foster R&D activities to develop and improve AI chips.
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Segmentation of Market covered in the research:
The AI chipset market forecast is segmented into component, technology, vertical, application, and region.
The component segment is sub-segmented into memory, network, and hardware, and software. The hardware sub-segment is further bifurcated into ASIC, FPGA, CPU, and GPU. Among these, the hardware segment accounts for the largest market share and would continue to lead the component segment over the forecast period.
The technology segment is sub-segmented into machine learning, natural language processing, and others. Among these, the machine learning segment accounts for the largest market share and would continue to lead the technology segment over the assessment period.
The verticals segment is sub-segmented into automotive, BFSI, retail, media and entertainment, IT and telecommunication, consumer electronics, and healthcare. Among these, the consumer electronics segment accounts for the largest market share and would continue to lead the vertical segment over the forecast period.
The application segment is sub-segmented into medical imaging, robotics, automobile, smartphones, security systems, and smart wearable. Among these, the smartphone segment accounts for the largest market share and would continue to lead the application segment over the forecast period.
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Regional Segmentation
The regional segment is bifurcated into the Asia Pacific (China, Japan, India, South Korea, and Rest-of-the-APAC), the Americas (Canada, Mexico, US, Rest-of-North America), and South America, Europe (the UK, Germany, France, Italy, and Rest-of-Europe), and Rest-of-the-World.
North America has always been dominating the global artificial intelligence chipset market and is estimated to maintain its leading position in the future as well. The strong presence of leading industry players and increasing investments in infrastructure development bolster the region's artificial intelligence chipset market share.
Moreover, increasing focus to build in-house production sites for AI applications and rising preference for smart homes adds to the region's artificial intelligence chipset industry. High consumerization of AI-enabled wearable devices and medical instruments add to the artificial intelligence chipset market size.
Europe holds the second-best position globally in terms of AI chipset market revenue. Increasing digitalization and automation across industry verticals and Internet connectivity with high-reliability boost the region's artificial intelligence chipset market size.
The rising adoption of AI and IoT technologies and rising consumer inclination towards smart connected devices fuels the artificial intelligence chipset industry in the region. Additionally, large technological advancements and increasing investments by manufacturing industries increase the artificial intelligence chipset market growth.
The Asia Pacific region is witnessing a spurring rise in the artificial intelligence chipset market value. The increasing demand from burgeoning retail, healthcare, media & advertising, automotive & transportation, finance, and other industries drives the market growth.
Rapidly developing economies such as China and India, with the vast adoption of robotics and AI chipsets in consumer electronics, automotive, and healthcare, boost the market growth. Furthermore, the presence of smartphone manufacturers and semiconductor industries, alongside the increase in the use of smartphones, laptops, tablets, adds to artificial intelligence chipset market demand in the region.
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COVID-19 Impact on the Global AI Chipset Market
As the demand for leading-edge AI chipset technologies continues to surge, many industry players are fostering investments to stay ahead of the competition. The COVID-19 outbreak seemed to have a positive impact on the artificial intelligence chipset market shares. With increasing IT & telecom transformations and the digital transformation of economies, the already-competitive telecom and manufacturing sectors geared up phenomenally.
The Coronavirus pandemic has also fostered digitization and automation across the manufacturing sectors globally, disrupting supply chains and workforce management. The automation further increased the need for improved Internet connectivity with high reliability, cloud-based apps, and connected devices & IoT services. Therefore, the AI chipset market is witnessing a constant uptick over the past few months.
Industry Trends
Rising uses of smart connected devices in manufacturing sectors, digital transformation, automation, and Industry 4.0, are the major artificial intelligence chipset market trends impacting the market growth positively. Additionally, the advent of 5G and industry 5.0 is anticipated to offer further growth opportunities.
Therefore, Artificial Intelligence (AI) Chipset markets worldwide are estimated to garner significant traction. With advances in technologies and growing digitization, there is a need to have IoT systems incorporated into every industrial set-up.
Many industries are currently employing highly reliable low-latency wireless links that can power new and existing IoT applications. With most manufacturing companies embracing industry 4.0 regulations and the advent of industry 5.0., Artificial Intelligence (AI) Chipset technology is expected to become crucial for manufacturing sectors worldwide.
AI tools have tremendous potential to transform smart cities and integrated digital homes. Therefore, increasing smart city and smart home projects worldwide is another trend predominantly fostering the artificial intelligence chipset industry. Besides, the emergence of built-in AI network chips is likely to boost the AI chipset market growth over the assessment period.
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