Adoption of artificial intelligence to gain useful consumer insights and high operational efficiency is driving the artificial intelligence chip market
Latest market study on "Artificial Intelligence Chip Market to 2027 - Global Analysis and Forecasts by Segment (Data Center, Edge); Type (CPU, GPU, ASIC, FPGA, and Others); and Industry Vertical (BFSI, Retail, IT & Telecom, Automotive & Transportation, Healthcare, Media & Entertainment, and Others) and Geography– Global Analysis and Forecast", the Artificial Intelligence Chip market is estimated to reach US$ 83,252.7 Mn by 2027 from US$ 5,658.1 Mn in 2018. The report includes key understanding on the driving factors of this market and also highlights the prominent players in the market and their developments.
Availability of massive amount of data, demand for superior customer service, efficient operations and better sales revenue are some of the key factors driving the growth of Artificial intelligence market. With the advancement in computing and storage technology, computing power has increased multi-fold during the last decade. This computing power has created new opportunities for managing and computing the big sets of data, and when coupled with artificial intelligence technology, it can deliver useful insights to the businesses. Major artificial intelligence applications for which AI chips are being used include Machine Learning (ML), Natural Language Processing (NLP), Expert Systems, Automated Speech Recognition, AI Planning, and Computer Vision. Machine Learning is a branch of artificial intelligence that enables machines to develop the ability of self-learning and adaption through experience without being explicitly programmed. It is a method of data analysis that automates analytical model building. Machine Learning is one of the most use cases application of artificial intelligence chips.
The global market for artificial intelligence chips is anticipated to exhibit very high growth in the near future. Some of the major driving factors contributing to the market growth include increasing investments in AI chip start-ups, and availability of massive amount of data due to the proliferation of digital services across the globe. Real-time consumer behavior insights, increased operational efficiency, and improved sales revenue are some of the factors responsible for rising adoption of AI chips across major industry verticals. Also, growing spending on enhanced IT security is expected to drive the growth of AI Chip market. However, there are few factors which are expected to restrain the market growth such as data privacy & security concerns and lack of infrastructure and technology know-how in third world countries. During the forecast period, rising adoption of cloud-based computing across industries and the adoption of artificial intelligence chips in edge devices will present significant opportunities for market players operating in the AI chip market.
The key companies operating in the field of artificial intelligence chip market that are profiled in the report include Advanced Micro Devices, Inc., Alphabet Inc. (Google), Huawei Technologies Co., Ltd., IBM Corporation, Intel Corporation, Micron Technology, Inc., NVIDIA Corporation, Qualcomm Incorporated, Samsung Electronics Co., Ltd, and Xilinx, Inc. Several other start-ups are emerging in the market such as Graphcore, Cambricon, Thinkforce, Barefoot Networks, Unisound, Horizon Robotics, WestWell Labs, and Brain Corp. among many others.
Artificial Intelligence Chip Market - Region Breakdown, 2018
Source: The Insight Partners Analysis
The report segments the global artificial intelligence chip market as follows:
Global Artificial Intelligence Chip Market - By Segment
Global Artificial Intelligence Chip Market - By Type
Global Artificial Intelligence Chip Market - By Industry Vertical
Global Artificial Intelligence Chip Market - By Geography
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