Artificial Intelligence Chip Market
The Artificial Intelligence Chip Market is anticipated to reach USD 80.7 billion by the end of 2027, expanding at a CAGR of 39.9% during the forecast period (2020-2027).
The factors driving the growth of Artificial Intelligence Chip Market includes rise in the number of artificial intelligence applications, huge amounts of data generated around the world, emerging need to solve complex mathematical and computational problems and growing popularity of autonomous robots. According to the report published by Bloomberg, the Global Autonomous Mobile Robot Market is predicted to reach USD 12.4 billion by the end of 2030, expanding at a CAGR of 17% over the forecast period (2020-2030), which is expected to boost the Artificial Intelligence Chip Market size in the approaching years. Moreover, the growing adoption of artificial intelligence chips by the major corporations for improving the customer services and reducing operational costs, rise in the number of Artificial Intelligence start-ups and technological innovations in the artificial intelligence chipsets, are some of the additional factors supplementing the market growth. In addition, rapid growth in the social media and e-commerce platforms, rising penetration of smartphones, increasing in the Government’s spending on cybersecurity solutions and growing disposable incomes, are further contributing to the market growth.
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However, the growth of Artificial Intelligence Chip Market is hindered due to insufficient availability of skilled workforce.
The leading players operating in the market are Microsoft Corporation, Micron Technology Inc, Qualcomm Technologies Inc, Intel Corporation, NVIDIA Corporation, IBM Corporation, Google LLC, Xilinx Inc, Samsung Electronics Co. Ltd, and Amazon Web Services (AWS).
Technology: Segment Analysis
Based on Technology, the Natural Language Processing segment is estimated to grow at a remarkable CAGR during the forecast period. The NLP technology of Artificial Intelligence Chips helps to convert large amount of unstructured data into structured form along with its voice assistance features, are some of the factors responsible for the growth of the segment.
Industry: Segment Analysis
Based on Industry, the Automotive segment is projected to hold the highest market share over the forecast period. The Artificial enabled chips provide smart driving experience to the consumer and helps to navigate and efficiently during traffic hours, are the major factors augmenting the growth of the segment.
Regional: Segment Analysis
Based on Region, the North American region is predicted to capture the largest market share during the forecast period. Strong presence of the leading players such as Microsoft Corporation, IBM Corporation and Google LLC., increasing investments by leading players on research and development, high per capita incomes, and rising population growth rates, are some of the important factors propelling the market growth in North America.
Market Segmentation
Global Artificial Intelligence Chip Market by Technology
- Machine Learning
- Natural Language Processing
- Context–Aware Computing
- Computer Vision
Global Artificial Intelligence Chip Market by Hardware
- Processor
- Memory
- Network
Global Artificial Intelligence Chip Market by Industry
- Healthcare
- Manufacturing
- Automotive
- Agriculture
- Retail
- Security
- Human Resources
- Marketing
- Law
- Fintech
Global Artificial Intelligence Chip Market by Region
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- North America
- United States of America
- Canada
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- RoW
- Brazil
- South Africa
- Saudi Arabia
- UAE
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