(MENAFN- IMARC Group)
IMARC Group's report titled“ Artificial Intelligence Chip market Report by Chip Type (GPU, ASIC, FPGA, CPU, and Others), technology (System-on-Chip (SoC), System-In-Package (SIP), Multi-Chip Module, and Others), Processing Type (Edge, Cloud), Application Insights (Natural Language Processing (NLP), Robotics, Computer Vision, Network Security, and Others), industry Vertical (Media and Advertising, BFSI, IT and Telecom, Retail, Healthcare, Automotive and Transportation, and Others), and Region 2024-2032 “, Offers a comprehensive analysis of the industry, which comprises insights on the market.
How big is AI chip market?
The global artificial intelligence chip market size reached US$ 18.8 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 150.4 Billion by 2032, exhibiting a growth rate (CAGR) of 25.8% during 2024-2032.
Factors Affecting the Growth of the Artificial Intelligence Chip Industry:
. Increasing Demand for AI-Driven Applications:
The surge in the demand for AI-driven applications is rising with the pressing need for enhanced productivity and intelligent decision-making across diverse industries. Healthcare is adopting AI for early disease detection and personalized treatment plans. In the financial sector, AI-powered algorithms are used for risk assessment and fraud detection. Autonomous vehicles rely on AI chips for real-time decision-making in complex traffic scenarios. As these applications become integral to the daily lives of individuals, the demand for specialized AI chips experiences exponential growth. This boosts chip sales, and fosters innovation in chip design and manufacturing.
. Technological Advancements:
The dynamism of the AI chip market stems from its continuous technological advancements. Manufacturers are relentlessly pushing the boundaries of innovation. They are developing smaller, more energy-efficient chips with exponentially higher processing capabilities. These innovations are crucial in enabling AI integration into an ever-expanding array of devices and systems. From smartphones to cloud data centers, AI chips are the driving force behind the intelligent functionality of these technologies. Furthermore, ongoing advancements in materials science and chip manufacturing processes lead to increased chip performance, cost-efficiency, and scalability, solidifying the industry's position as a key driver of technological progress.
. Growing Investment and Research:
The artificial intelligence chip market benefits immensely from the substantial investments pouring into research and development. Tech giants, startups, and venture capitalists are allocating unprecedented resources to create cutting-edge AI hardware. This influx of funding facilitates breakthroughs in chip architecture, materials, and manufacturing processes. It accelerates the development of specialized AI chips tailored to meet the unique demands of various applications. The result is a virtuous cycle of innovation, where heightened chip performance, cost-effectiveness, and scalability are driving market growth and shaping the future of AI technology. This industry is, indeed, at the forefront of the technological revolution, poised for sustained expansion in the coming years.
For an in-depth analysis, you can refer sample copy of the report : https://www.imarcgroup.com/artificial-intelligence-chip-market/requestsample
Leading Companies Operating in the Global Artificial Intelligence Chip Industry:
. Advanced Micro Devices Inc.
. Huawei Technologies Co. Ltd.
. Intel Corporation
. LG Electronics Inc. (LG Corporation)
. Mediatek Inc.
. Micron Technology Inc.
. Mythic Inc.
. Nvidia Corporation
. NXP Semiconductors N.V.
. Qualcomm Technologies Inc.
. SK hynix Inc.
. Toshiba Corporation
Artificial Intelligence Chip Market Segmentation:
By Chip Type:
. GPU
. ASIC
. FPGA
. CPU
. Others
GPU represents the largest segment due to the ability to handle parallel processing tasks effectively, making it a popular choice for AI applications that require high computational power.
By Technology:
. System-on-Chip (SoC)
. System-In-Package (SIP)
. Multi-Chip Module
. Others
System-on-Chip (SoC) dominates the market as it integrates various components onto a single chip, reducing power consumption and enhancing performance for AI-powered devices.
By Processing Type:
. Edge
. Cloud
Cloud accounts for the majority of the market share, since cloud-based AI services offer scalability and accessibility, attracting businesses and developers to leverage these resources.
By Application:
. Natural Language Processing (NLP)
. Robotics
. Computer Vision
. Network Security
. Others
Natural Language Processing (NLP) holds the largest market share due to the increasing demand for AI-driven language understanding and generation in various applications, including chatbots and language translation.
By Industry Vertical:
. Media and Advertising
. BFSI
. IT and Telecom
. Retail
. Healthcare
. Automotive and Transportation
. Others
BFSI represents the largest segment, as the banking, financial services, and insurance sector extensively utilizes AI for fraud detection, risk assessment, and customer service improvement.
By Region:
. North America (United States, Canada)
. Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
. Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
. Latin America (Brazil, Mexico, Others)
. Middle East and Africa
North America exhibits a clear dominance in the market with the presence of major AI chip manufacturers, tech giants, and a strong focus on AI research and development in the region.
Global Artificial Intelligence Chip Market Trends:
The global artificial intelligence (AI) chip market is driven by the growing emphasis on specialized AI chips designed for specific applications. Industries, such as healthcare, automotive, and finance, are increasingly adopting AI, fueling the demand for tailored hardware solutions. Edge computing is gaining prominence with the need for real-time AI processing at the device level, enabling faster decision-making and reduced latency.
Furthermore, with the rising sustainability concern, AI chip manufacturers are focusing on energy-efficient designs, aligning with global sustainability goals. Eventually, international collaborations and investments in AI chip research and development are fostering innovation and global market expansion. These trends collectively depict a vibrant landscape for the global AI chip market, as it continues to play a pivotal role in the AI-driven future across industries worldwide.
About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARCs information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the companys expertise.
Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.
Contact Us:
IMARC Group
134 N 4th St. Brooklyn, NY 11249, USA
Email: --
Tel No:(D) +91 120 433 0800
United States: +1-631-791-1145 | United Kingdom: +44-753-713-2163
MENAFN06022024004122016232ID1107814407