Artificial Intelligence Industry 2018 to 2025 Booming Trends, Share, Growth Challenges, Key Players, Industry Segments and Competitors Analysis | Analysis of COVID-19
Artificial Intelligence (AI) solutions are expected to contribute considerably while handling the COVID-19 outbreak and also address the subsequent emergence of challenges. The pandemic has prompted numerous pharmaceutical firms as well as healthcare establishments to boost their research and development (R&D) funding in AI. AI solutions help in e-learning, the demand for which is anticipated to skyrocket with the closure of various educational institutes like universities and schools. The technology also helps in offering remote assistance while preventing unnecessary travel, which is the main focus during the outbreak. The rising use of smartphones as well as smart devices also seems to be working favor of the artificial intelligence chip market all over the world.
Artificial intelligence (AI) chipset are silicon-based chips that are integrated with devices to support AI technologies. Increasing utilization of AI technologies is projected to boost the demand for these chipsets over the next couple of years. This report presented by Market Research Future (MRFR) suggests that the global artificial intelligence (AI) chipset market is supposed to strike 31.03% CAGR across the evaluation period 2018 to 2023. The valuation of the market is projected to reach USD 16.65 Bn by 2023.
Artificial intelligence chipsets are anticipated to be one of the most important components of the future smart devices. The AI technology is of high economic significance, as it stimulates the intelligence of products as well as services. For this reason, its demand has risen significantly in industries like education, finance, logistics, transportation and healthcare. Chipsets act as the physical aspect of all the AI-backed applications, making it a valuable tool when it comes to development of AI applications.
A huge number of tech giants across the world are working on the development of artificial intelligence chipset to create high-speed computing processors that can back voluminous data and applications at the same time. To cite a reference, Intel Corporation recently built Intel Nervana Neural Network Processors that are used in inference and training workload domains. These AI chipsets have been particularly made to fulfill the high-speed need of artificial intelligence computing, with better performance. This factor has significantly boosted the adoption of AI chipsets in automotive, consumer electronics, manufacturing, healthcare, and more, leading to better business expansion.
The top markets for AI chipset are APAC or Asia Pacific, MEA or Middle East & Africa, North America, Europe, and South America.
North America can possibly emerge as the most profitable market for AI chipsets in the years ahead, thanks to the existence of a huge number of celebrated tech giants like Google, Amazon.com Inc. and IBM Corporation. The region holds a vast population with high purchasing power, which adds to the market strength as well. High investments in infrastructure, along with the rising focus on building in-house production sites for AI applications also benefits the regional market. The region is also observing a surge in the number of start-ups that develop advanced AI chipsets, one of which is Cerebras in the U.S. that has developed a large AI chip to be used in data centers.
The APAC market is largely backed by the frequent advancements in the developing nations like India and China, with respect to industries like finance, automotive & transportation, media & advertising, healthcare, retail, and others. The significant industrial expansion in these countries has booted the growth potential for AI.
NVIDIA, Intel Corporation, Xilinx, IBM Corporation, Micron Technology, Samsung Electronics, Qualcomm Technologies, Fujitsu Ltd, Advanced Micro Devices, and Huawei Technologies Co Ltd are few of the prominent players of the artificial intelligence (AI) chipset market. These players are expected to leverage advanced technologies for the development of efficient product portfolios. This, in turn, is projected to fuel competition in the artificial intelligence (AI) chipset market over the next couple of years. Few of the growth methods anticipated in the competitive landscape in the upcoming years are – agreements, partnerships, strategic alliances, mergers & acquisitions, collaborations, etc.
In November 2019, Nvidia Corp., an American technology company, has announced the launch of the world’s smallest and the most powerful AI supercomputer, Jetson Xavier NX.
In August 2019, Huawei Technologies Co., Ltd., a Chinese multinational technology company, has announced the launch of dubbed MindSpore, an all-scenario AI computing framework, and the Ascend 910, an artificial intelligence (AI) processor. The company is aiming to ship over 2 million AI chips.
On the basis of Component, the artificial intelligence (AI) chipset industry has been segmented into hardware (processors, GPU, ASIC, FPGA, CPU, memory, and network) and software.
Based on technology, the artificial intelligence (AI) chipset market has been segmented into machine learning, natural language processing, and others (deep learning and computer vision).
By Application, the artificial intelligence (AI) chipset market has been segmented into smartphones, robotics, automobile, smart wearable, security systems, and medical imaging.
On the basis of vertical, the artificial intelligence (AI) chipset market has been segmented into consumer electronics, retail, IT & telecommunication, automotive, media & telecommunication, healthcare, medical & entertainment, and BFSI.