June 11th, 2022
Artificial Intelligence Chip Market
The AI Chip Market is anticipated to reach at USD 80.7 Billion by 2027, expanding at a CAGR of 39% during the forecast period.
The factors driving the growth of Artificial Intelligence Chip Market includes increasing use of Artificial Intelligence for reducing hardware cost, improving customer services, and detecting financial frauds. Moreover, using Artificial Intelligence at workplace helps in reducing the outsource work, operational cost and tracks and monitors the performance of the worker. Moreover, the growing use of Artificial Intelligence chips in robotics, network security and computer vision in industries such as IT, Healthcare, automotive and agriculture, have increased the Artificial Intelligence Chip Market size.
In addition, AI eliminates human shortcomings and its cognitive capabilities to learn from human interaction along with their growing use to enhance customer service, brand management and human resource related activities, will increase the Artificial Intelligence chip Market share. The increasing number of Cyber-Attacks around the world, has surged the demand for AI-based Systems, as per the report by SPANNING CLOUD APPS, during 2021, on an average 30,000 websites were hacked daily, in every 39 seconds a company fall victim of a cyberattack and these kind of cyberattacks were experienced by more than 60% of organizations globally.
The notable players operating in the market are Qualcomm Technologies Inc, Google LLC, IBM Corporation, Samsung Electronics Co. Ltd, Xilinx Inc., Amazon Web Services (AWS), Intel Corporation, NVIDIA Corporation, Microsoft Corporation, Micron Technology Inc. among others.
Technology: Segment Analysis
Based on Technology, the NLP segment is expected to expand at a higher CAGR over the forecast period due to its ability to convert huge volumes of unstructured data to the structured form. In addition, as per the Artificial intelligence chip market report, its capability to enhance customer experience through voice assistant technology, will increase the segment growth in the coming years.
Hardware: Segment Analysis
Based on Hardware, the processor segment is anticipated to grow at higher CAGR over the forecast period due to its growing application in self driving cars and gaming industry. As per the report from Business Standard, the online gaming industry in India, has generated Rs 11500 crore in revenue in 2020, and it is anticipated to grow at a CAGR of 38% to reach Rs 384 billion by 2025, which will increase the growth of Hardware Segment in the coming years.
Industry: Segment Analysis
Based on the Industry, the automotive industry is predicted to dominate the market over the forecast period because the AI-powered chips help in navigation and provides a smarter driving experience to the user.
Region: Segment Analysis
Based on region, North America is expected to dominate the market over the forecast period. The involvement of major players in the manufacturing of AI-Chips along with Government’s increasing expenditure on Artificial Intelligence technology, are increasing the market growth in the region.
Global Artificial Intelligence Chip Market by Technology
· Machine Learning
· Natural Language Processing
· Context–Aware Computing
· Computer Vision
Global Artificial Intelligence Chip Market by Hardware
Global Artificial Intelligence Chip Market by Industry
· Human Resources
Global Artificial Intelligence Chip Market by Region
· Asia Pacific
o Rest of APAC
· North America
o United States of America
o United Kingdom
o Rest of Europe
o South Africa
o Saudi Arabia
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