The global Artificial Intelligence (AI) Chipset is growing by leaps and bounds. The market growth attributes to the rising automation and digitization across the industries. Besides, increasing demand for AI chipsets in various industries such as automotive, BFSI, retail, telecommunication & IT, and healthcare & pharmaceuticals substantiate market growth. Moreover, the growing need for digital transformations and the generation of large amounts of big data in businesses escalate market growth.
According to a leading research firm Market Research Future (MRFR), the global AI Chipset Market Analysis is expected to create a valuation of USD 38.46 BN by 2025, registering a massive CAGR of 39.18% throughout the forecast period (2019 to 2025). AI chipsets see greater opportunities in the automotive sector to help automakers make significant improvements throughout vehicle life cycles, providing new vehicle data insights and the ability to make continuous improvements using machine learning and over-the-air updates.
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Artificial Intelligence (AI) Chipset Market - Competitive Analysis
Highly competitive, the AI chipset market appears fragmented due to the presence of several well-established players. Mergers & acquisitions, innovation, and expansion remain prevailing key trends for the leading players as these strategic moves support their growth and expansion plans. They deliver reliable, leading-edge products and services. For which they invest substantially in R&D to develop adept technologies and product portfolio.
Major Players:
Players leading the AI chipset market Qualcomm Technologies Inc. (US), NVIDIA Corporation (US), Intel Corporation (US), Advanced Micro Devices (US), Huawei Technologies Co. Ltd (China), Samsung Electronics Co., Ltd (South Korea), IBM Corporation (US), and Micro Technology (US), among others.
Additionally, the increasing number of AI-enabled applications, developments in big data analytics, and AI-based products and services to improve consumer experience is factors expected to drive the artificial intelligence (AI) chipset market during the forecast period. Furthermore, rising AI enabled applications and data driven research & analysis projects drive the growth in the AI chipset industry. Also, the changing strategic framework impacts market growth positively.
Besides, increasing usages of machine learning, deep learning, and natural language processing accelerate market growth, offering detailed technological insights. Conversely, the lack of technical expertise and AI standards are major factors projected to impede the market's growth. Nevertheless, growing competition across the industries and the growing emphasis on business intelligence would support market growth throughout the assessment period.
Artificial Intelligence (AI) Chipset Market - Segments
The report is segmented into five dynamics;
By Component: Hardware {Processors (CPU, GPU, ASIC, FPGA), Memory, Network} and Software.
By Technology: Machine Learning, Deep Learning, Natural Language Processing, and others.
By Application: Smart Wearable, Smartphones, Robotics, Security Systems, Automobile, Medical Imaging, and others.
By Vertical : Automotive, Consumer Electronics, Retail, IT & Telecommunication, Healthcare, Media & Entertainment, BFSI, and others.
By Regions : Americas, Europe, Asia Pacific, and the Rest-of-the-World.
Global AI Chipset Market - Regional Analysis
North America leads the global Artificial Intelligence Chip Market. The largest market share is attributed to the presence of the majority of key players and technology giants such as IBM Corporation, Amazon.com Inc., and others. Besides, increasing R&D investments for the development of AI technologies and the digital transformation of businesses in the region foster market growth.
Also, the increasing demand for intelligent virtual assistants drives the growth of the regional market. Moreover, the increasing implementation of cutting-edge technologies in the automotive and IT & telecommunication sectors boost regional market growth. The North American AI chipset market is forecasted to retain its dominance throughout the projected period.
The Europe artificial intelligence (AI) chipset market holds the second-largest share. The market growth is fostered by the presence of various notable players and large deployments of these chipsets across the industries. Additionally, the high adoption of automation solutions in the manufacturing sector pushes the development of the regional market. The European AI chipset market is predicted to create a substantial revenue pocket during the assessment period.
Asia Pacific artificial intelligence (AI) chipset market is growing rapidly. Factors such as the proliferation of digitization in businesses drive the growth of the regional market. The rising adoption of AI and cloud computing by large and SMEs to enhance employee satisfaction and operational performance boost the regional market's growth.
Augmenting demand from growing numbers of automation tools from automotive, consumer electronics, retail, and media & entertainment act as a key tailwind for the market growth. India and China are major markets for AI technologies in the region. The APAC artificial intelligence chipset market is expected to grow at a significant rate during the forecast period.
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Industry/Innovation/Related News:
November 17, 2020 ----- NXP Semiconductors NV, an American Dutch semiconductor manufacturing company, announced its partnership with a US-based IT service management company Amazon Web Services, to connect cars to cloud computing services.
NXP is a leading supplier of computing chips to automakers, and Amazon Web Services is the largest cloud computing service by revenue. Dutch chipmaker NXP Semiconductors said that the strategic relationship would enable the company to leverage cloud computing units to help cars communicate with data centers.
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