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.
Artificial intelligence and its applications such as machine learning and deep learning have been growing tremendously over the last few years. AI is being utilized extensively in numerous areas ranging from cloud computing applications to digital assistants and self-driving/autonomous vehicles. With ever increasing use cases of AI and the evolving market landscape, the advancements in present chips have become a necessity.
The availability of massive amount of data originating from different data sources is one of the key factors driving the growth of artificial intelligence technology across the globe. The proliferation of smart devices, easy availability of internet, advancement of IoT, and the advent of smart homes and smart cities are some of the major reasons for the exponential increase in data generation. The connected devices are also increasing exponentially. These connected devices communicate and continuously generating enormous amount of data.
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This digital revolution presents a massive opportunity for businesses to utilize the huge volumes of user/process data to gain useful insights. The paradigm shift due to companies embracing digitalization has reaped greater benefits for the enterprises and resulted in more revenue generation opportunities. Also, with the advancement in computing and storage technology, computing power has increased multi-fold during the last decade.
The most prominent market players in artificial intelligence chip market are 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. among others. Companies have taken several market initiatives to expand their footprint across the world and to fulfill the growing demand for artificial intelligence chips.
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The players present in artificial intelligence chip market are mainly concentrating on new market initiatives to increase their business revenue, technology portfolio and geographical footprint throughout the globe. Most of the market initiatives were observed in Asia Pacific, North America, and Europe regions, where adoption of artificial intelligence solutions is high
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