Artificial Intelligence (AI) Chip Market will exhibit a CAGR of 29.6% between 2020 and 2030
The Global Artificial Intelligence (AI) Chip Market size is estimated to be USD 8.71 billion in 2019 and is predicted to reach USD 150.89 billion by 2030 with a CAGR of 29.6% from 2020-2030. Artificial Intelligence (AI) Chip is special silicon ships consist of artificial intelligence technology which is used for machine learning. These AI chips are strong powerful to handle various operations at a time. These chips help in the elimination and minimization of risk to human life in different industry verticals. Moreover, increase in the data and its processing requires fast and efficient technology which is also increase the use of AI chips.
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There has been various technological advancement taking place in the market coupled with increased demand of smart devices such as smart home devices, smart phones and others has Anticipated the growth of artificial intelligence chips market. Furthermore, increased investments in AI startups coupled with emergence of quantum computers are anticipate the market growth.
The other factors such as wide application, and increase in robotics are also expected to further promote the market growth. However, high development cost and lack of skilled labor are expected to hinder the growth of artificial intelligence chip market over the forecast period. On the other hand, increase in research and development coupled with increased use of autonomous robotic in various industries and various product launches are expected to create opportunities in the artificial intelligence chip market over the forecast period.
Market Segmentations and Scope of the Study:
The global artificial intelligence chip market share is analyzed on the basis of chip type, application, technology, processing type, industry vertical and geography. Based on chip type, the market is fragmented into GPU, FPGA, ASIC, CPU, and Others. On the basis of application, the market is segmented into Natural Language Processing (NLP), Robotic, Computer Vision, Network Security, and Others. On the basis of technology, the market is segmented into system-on-chip (soc), system-in-package (sip), multi-chip module, and others. On the basis of processing type, the market is divided into edge and cloud. On the basis of industry vertical, the market is segmented into media & advertising, BFSI, IT & telecom, retail, healthcare, automotive & transportation, and others. Geographic breakdown and analysis of each of the aforesaid segments includes regions comprising North America, Europe, Asia-Pacific, and RoW.
Geographical Analysis
North America represents the higher adoption of the artificial intelligence chip and is anticipated hold the highest market share during the forecast period. This is attributable to the factors including advanced technology coupled with increased use of smart devices and wide application in various industries.
It is expected that the emerging economies, specifically in the Asia-Pacific region would witness increasing market size owing to increased adoption of technology and increased investment in the AI startups in the region.
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The artificial intelligence chip is highly competitive, consists of a various market players. Some of the major market players include, Advanced Micro Devices, Inc., IBM Corporation, Micron technology, Inc., Qualcomm Incorporated, Xilinx, Inc., Alphabet Inc. (Google), Intel Corporation, NVIDIA Corporation, Samsung electronics Co., Ltd., and Huawei Technologies Co., Ltd. among others.
There has been various developments taking place in the market which further contribute the growth of artificial intelligence chip on a large scale. For instance, in September 2019, ZTE, a provider of integrated military communication solutions from Cambrian, jointly demonstrated the integration of edge computing and artificial intelligence in the 5G era. The business display adopts ZTE's edge computing server ES600S and video acceleration card, and it is equipped with Cambrian Siyuan 100 intelligent processing card to realize edge video data collection and artificial intelligence analysis.