Wednesday, 26 June 2019 04:04 GMT

AI Chip Market Size, Share, Growth Industry Analysis and Forecast 2027 | Leading Players Micron technology, Xilinx

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Artificial Intelligence Chip Market - Region Breakdown, 2018

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.

Market Insights

With the availability of enormous amount of data and vast scalability of cloud-based compute power, artificial intelligence has become a huge trend across industries in these past few years. In today's digital world, information is the key for enterprises to be successful and to maintain sustainable growth. Most industries especially service sector rely deeply on analytics to provide them with useful business insights and enable them to remain competitive in the market. Enterprises have been continuously automating their business processes that were earlier conducted either programmatically or manually. With advancements in AI chips and introduction of application-specific custom chips, enterprises now have the capability to collect real-time analytics and to transform their data into actionable insights. There are numerous use cases available in the market of AI being successfully implemented across industry verticals.Therising adoption of artificial intelligence among North American countries is set to nurture the artificial intelligence chip market in this region during the forecast period.

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Market initiatives by the players propelling the growth of Artificial Intelligence Chip market

In the global artificial intelligence chip market, new market initiative is a strategy adopted by various companies to expand their footprint across the world and meet the growing demand of customers. The market players present in the artificial intelligence chip market are mainly focusing towards product enhancements by implementing advanced technologies. By signing partnership, contracts, joint ventures, and funding, companies are expanding their footprint in the artificial intelligence chip market. Most of the artificial intelligence chip market initiatives were observed in Asia Pacific, North America, and Europe regions, which have high density of AI implementations.

Segment by End-User Insights

On the basis of industry vertical, the global artificial intelligence chip market is categorized into BFSI, Retail, IT & Telecom, Automotive & Transportation, Healthcare, Media & Entertainment and Others.The others segment include public utilities, government, education, oil & power, and manufacturing among others.Artificial intelligence allows businesses to prioritize and automate decision making, analyze big complex structured and unstructured data to provide deeper insights, and improve efficiency by accurate planning. Industry verticals such as banking and retail generate huge amount of data ranging from operations data to customer feedbacks. Availability of huge data is a perfect opportunity for application of artificial intelligence in various business processes. AI applications such as machine learning, computer vision and, anomaly detection algorithms can be applied for quality control in various industries.

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AI Chip Market Size, Share, Growth Industry Analysis and Forecast 2027 | Leading Players Micron technology, Xilinx


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