New York, USA, Feb. 27, 2023 (GLOBE NEWSWIRE) -- According to a report published by Research dive, the global AI accelerator chip market is envisioned to garner $332,142.7 million in revenue and grow at a CAGR of 39.3% during the analysis timeframe from 2022 to 2031.
As per our analysts, with the rising use of AI accelerator chips in the healthcare industry to enhance the physician decision-making process and improve medical data mining quality, the AI accelerator chip market is predicted to experience prominent growth over the estimated timeframe. Besides, these chips can deliver a faster understanding of the personal and social determinants of health and disease and enhance human-machine interaction which is further expected to fortify the growth of the market over the forecast period. Moreover, the growing adoption of AI accelerator chip semiconductors across various industries to provide end-to-end services is predicted to uplift the growth of the market throughout the analysis period. However, the shortage of AI accelerator chip experts may hinder the growth of the market during the estimated period.
Segments of the AI Accelerator Chip Market
The report has divided the market into segments based on chip type, processing type, application, industry vertical, and region.
Chip Type: Central Processing Unit (CPU) Sub-Segment to be Most Profitable
The central processing unit (CPU) sub-segment accounted for the highest revenue in 2021. The increasing use of a CPU for improving the performance of a computational device is predicted to boost the growth of the market sub-segment during the analysis timeframe.
Processing Type: Cloud Sub-Segment to be Most Productive
The cloud sub-segment generated a dominant share in 2021. Cloud acceleration chip services are popular among publishers, content creators, and various other organizations as these enable them to offer material or data to end-users quickly and promptly which is expected to foster the growth of the AI accelerator chip market sub-segment over the forecast period.
Application: Natural Language Processing (NLP) Sub-segment to be Most Beneficial
The Natural Language Processing (NLP) sub-segment held the largest share of the market in 2021. NLP plays a major role in bridging the gap between human communication and machine comprehension by utilizing computer science and computational linguistics. In addition, the growing use of NLP in computers to understand complex human concepts such as mood, purpose, emotion, and many more are expected to fuel the growth of the market sub-segment during the analysis period.
Industry Vertical: Healthcare Sub-Segment to be Most Gainful
The healthcare sub-segment registered the biggest market share in 2021. The rising collaboration made by leading market players to validate, improve, and bring innovative solutions that can solve critical issues in the healthcare industry is expected to propel the growth of the market sub-segment over the estimated timeframe.
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North America Region to Hold the Dominant Market Share
The North America region of the AI accelerator chip market is predicted to hold the maximum share of the market over the forecast timeframe. This is mainly due to the presence of a huge number of artificial intelligence (AI) accelerator producers across the region. Furthermore, the increasing investments made by the leading market players of this region in the construction of regional data center infrastructure are expected to thrive the regional growth of the market throughout the analysis period.
Covid-19 Impact on the AI Accelerator Chip Market
The rise of the novel coronavirus has badly impacted the AI accelerator chip market. This is majorly due to the decreased demand for semiconductors and chipsets during the pandemic owing to the lack of employees at the manufacturing units. In addition, the disruption in the supply chain due to the Covid-19 restrictions and the limited deployment of AI in developing sectors such as medical devices, automotive, and many more, were the major factors that declined the market growth throughout the crisis.
Key Players of the Market
The major players of the AI accelerator chip market include
- Microsoft Corporation
- Micron Technology Inc.
- Alphabet Inc. (Google Inc.)
- International Business Machines Corporation
- NXP Semiconductors N.V.
- Qualcomm Technologies Inc.
- Advanced Micro Devices Inc. (AMD)
- Intel Corporation
- Graphcore Limited
- NVIDIA Corporation
These players are widely working on the development of new business strategies such as mergers and acquisitions, partnerships and collaborations, and product development to acquire a leading position in the global industry.
For instance, in August 2022, Intel Corporation, an American multinational corporation and technology company announced its collaboration with Aible, a service-providing company across oil, gas, and offshore wind industries. With this collaboration, the companies aimed to develop innovative benchmarking programs to enhance augmented data analytics, AI model training and inference, data management, and data operations.
Further, the report also presents other vital aspects including SWOT analysis, the financial performance of the key players, the product portfolio, and the latest strategic development.
More about AI Accelerator Chip Market:
- AI Accelerator Chip Makers in a Race to Develop the Most Energy-efficient AI Accelerator Chips
- Growing Demand for AI Accelerator Chips in the Healthcare Industry Expected to Augment the Growth of the Global AI Accelerator Chip Market by 2031
