Artificial Intelligence (AI) Chip Market Size to Surpass USD 227.48 BN by 2032

Ottawa, Feb. 08, 2023 (GLOBE NEWSWIRE) -- Increasing deployment of robotics to boost the growth of the artificial intelligence (AI) chip market. In recent years, the rising utilization of artificial intelligence in multiple industries, including automotive, healthcare, defence, IT & telecommunications and retail, has boosted the demand for artificial intelligence chips market. Artificial intelligence chips are designed to support deep-learning-based applications. AI chips can turn data into information, and thus, AI chips are widely used in online channels and chatbots. High bandwidth memory, faster computation and parallel processing are a few significances of artificial intelligence chips.

The global artificial intelligence (AI) chip market is in the race to make artificial intelligence chips more effective and petite, offering plenty of room for innovation. Disrupted activities negatively affected the global artificial intelligence (AI) chip market during the Covid-19 pandemic. However, the market is projected to combat the loss in the upcoming years. The market is expected to witness noticeable growth during the forecast period of 2023-2032, owing to lucrative development opportunities.

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Report highlights:

• North America dominates the global artificial intelligence (AI) chip market. At the same time, Asia Pacific is considered the fastest-growing region.
• The BFSI (banking, financial services and insurance) segment leads the market based on the end user. Increasing demand for potential systems to manage patient data is considered to drive the growth of the healthcare segment during the forecast period.
• The machine learning technology segment dominates the market owing to statistical techniques' accurate outcomes.
  
  

Regional snapshot:

North America holds the most extensive global artificial intelligence chip market revenue share. The region's position in the AI chip market is attributed to the rapid adoption of AI-based solutions in various industries. Increased investments in research & development activities for new AI chips drive market growth. The sudden emergence of digital services in the region is another driving factor for the market. AI chip applications with cloud-based computing services are prone to dominate the North American market in the upcoming years. Prominent companies such as Microsoft and Google, headquartered in North America, focus on creating independent inference for AI chips. This factor is propelling the growth of the market.

Moreover, major key players such as NVIDIA, International Business Machines Corporation, Qualcomm Technologies, Advanced Micro Devices and Intel Corporation have contributed to North America's artificial intelligence chip market. Most key players are headquartered in the United States; thus, the United States is considered a significant contributor to the market's growth.

Europe acquires the second-largest revenue share of the global artificial intelligence chip market. Highly advanced European industries have adopted AI technology for enhanced performance in recent years, which has propelled market growth in Europe. The increasing number of artificial intelligence chip start-ups in the region is a driving factor for the development of the artificial intelligence chip market. The increased success rate of business operations with AI solutions has pulled enterprises to invest in AI-based solutions for their businesses, boosting the growth of the AI chip market in Europe.

Asia Pacific is the fastest-growing region in the global AI chip market. Lower operating costs and increased demand for cost-effective and faster business operation solutions are drivers for the market growth in Asia Pacific. Along with this, ongoing innovations and discoveries in the AI chip market are considered to boost the artificial intelligence chip market's growth in the Asia Pacific. For instance, in September 2022, China-based, Vastai launched its 7-nanometer Graphic Processing Unit (GPU) for cloud artificial intelligence applications. Companies such as Sapeon, Shanghai Think Force Electronic Technology Co Ltd, Huawei Technologies and Samsung Electronics are contributing to the growth of the artificial intelligence chip market in the Asia Pacific.

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Scope of the Report

Market dynamics:

Driver:

Surged deployment of AI in surveillance cameras

The artificial intelligence in surveillance cameras uses computer software that detects and analyzes audio, video and images. Artificial intelligence in surveillance cameras has increased in recent years as AI technology alerts about doubtful motions, detects face/person, eliminates false motion, and detects objects. For better situational awareness, people are likely to purchase advanced AI-based surveillance camera systems for indoor and outdoor use. Additionally, such devices with AI chips offer high efficiency in AI-specific calculations. Thus, the surged deployment of AI in surveillance cameras is seen as a major driving factor for the growth of the AI chip market.

Restraint:

Lack of skilled workforce for the management of AI systems

The management of AI systems is complex. Lack of or shortage of skilled workforce hampers the growth of the market. AI-skilled professionals are required in the industry to develop and implement artificial intelligence systems and handle any system difficulty, such as cyber threats, bug attacks or any other technical error. Any minor mistake in managing AI systems can result in a significant loss for the business/enterprise. Thus, trained professionals with accurate AI knowledge are necessary for handling the system. The lack of a skilled workforce is caused by a shortage of specialized courses/training programs in many countries, which affects the recruitment of AI professionals.

Opportunity:

Deployment of AI in robotics

Robots enabled with artificial intelligence systems are capable of making decisions without any order or human intervention, and AI offers a better understanding of surrounding conditions to robots. This intelligent automation in robotics is considered beneficial in many sectors, such as automotive, construction, pharmacy, retail, and other industries requiring inspection and maintenance. The overall increased capabilities of robotics with the deployment of AI have boosted the demand for AI-powered robots in the global market. Considering the advantages of AI in robotics, the developers are focusing on creating robots that can be used for self-driving, healthcare management, computer monitoring, smart assistants and marketing chatbots. Thus, the surged application of AI in robotics subsequently provides lucrative opportunities for chipmakers, manufacturers and investors to focus on the discovery of robotics-specific artificial intelligence chips.

Challenge:

Unavailability of structured data

Data inputs in AI chip systems come from various unlimited sources. Such data, a crucial basis for developing a proper AI system, is not manually entered and is highly unstructured. The big unstructured data comes from voice, images and text. The overall extraction of such data takes extra time and hampers the speed of the process. Along with this, the highly unstructured and low-quality data may affect the overall outcome of the process. Thus, the unavailability of structured and high-quality data creates an obstacle to the growth of the artificial intelligence chip market.

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Recent developments in the artificial intelligence (AI) chip market:

• In March 2022, a global leader in AI chipmaking, NVIDIA, announced the launch of new artificial intelligence chips and technology. The company stated that this new chip would boost computing speed.
• In August 2022, SiMa. Ai., a machine learning specialist company, launched its first silicon Machine Learning System-on- Chip (MLSoC) Chip for edge artificial intelligence performance. SiMa.Ai. has partnered with TSMC for the manufacturing of MLSoC.
• In October 2022, South Korea base AI chip firm, Sapeon announced that the company would manufacture its new artificial intelligence chip series X330 this year. The company will be using TSMC's 7-nanometer node for manufacturing AI chips.
• In October 2022, a global leader in the artificial intelligence chip market, Intel, announced that the company would open its chip factories to Academia. This step aims to boost the research and development of semiconductors.
• In May 2022, AI chip startup, SiMa.ai. closed a $30 million investment from Fidelity Management and Research Company. This raised amount will be used to innovate artificial intelligence-based hardware and software.
• In October 2022, an innovative producer of tiny AI chips, POLYN, announced the availability of voice-processing tiny artificial intelligence chips. POLYN has become the first company to implement the combination of voice detection (VD) and voice extraction (VE).
• In June 2022, Flex Logics company launched its platform for machine learning (ML) that frameworks for its edge artificial intelligence inference accelerator chip.
  
  

Key players in the artificial intelligence (AI) chip market:

The global artificial intelligence chip market is widespread and contains multiple vital players that contribute to the market's growth. A few of them are-

• Samsung Electronics Co. Ltd
• Huawei Technologies Co. Ltd
• Qualcomm Incorporated
• IBM Corporation
• Xilinx Inc.
• Micron Technology
• Alphabet Inc
• NVIDIA Corporation
• General Vision Inc.
• Amazon Web Services
• Google Inc.
• Microsoft Corporation

Market Segmentation

By Technology

• Machine learning
• Natural language processing
• Context-aware computing
• Computer vision
• Predictive analysis
  
  

By Chip Type

• GPU
• ASIA
• FPGA
• CPU
• Others
  
  

By Processing Type

• Edge
• Cloud

By Function

• Training
• Inference

By End-Users

• Manufacturing
• Healthcare
• Automotive
• Agriculture
• Retail
• Human Resources
• Marketing
• BFSI
• Government
• Others

By Geography

• North America
• Europe
• Asia-Pacific
• Latin America
• The Middle East and Africa
  
  

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