Overview and Scope
Artificial intelligence chips are specific computer chips designed to achieve high efficiency and speed for computations related to AI at the expense of low efficiency and speed for other calculations and that is used for assisting clients in obtaining business insights at scale across banking, finance, trading, insurance applications, and client engagements.
Sizing and Forecast
The artificial intelligence chip market size has grown exponentially in recent years. It will grow from $21.71 billion in 2023 to $30.04 billion in 2024 at a compound annual growth rate (CAGR) of 38.4%. The growth in the historic period can be attributed to increased data generation, rise in healthcare sector, investment in ai research, rise in retail and e-commerce, rise in economic growth.
The artificial intelligence chip market size is expected to see exponential growth in the next few years. It will grow to $117.07 billion in 2028 at a compound annual growth rate (CAGR) of 40.5%. The growth in the forecast period can be attributed to growing demand for data-intensive applications, advancements in machine learning algorithms, growing automotive sector, rising financial services, rising urbanization. Major trends in the forecast period include customized ai hardware, edge ai acceleration, quantum computing integration, neuromorphic computing, energy-efficient ai chips:.
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Segmentation & Regional Insights
The artificial intelligence chip market covered in this report is segmented –
1) Artificial Intelligence Chip Market By Chip Type: GPU, ASIC, FPGA, CPU, Other Chip Types
2) Artificial Intelligence Chip Market By Processing Type: Edge, Cloud
3) Artificial Intelligence Chip Market By Technology: System-On-Chip (SoC), System-In-Package (SIP), Multi-Chip Module, Other Technologies
4) Artificial Intelligence Chip Market By Application: Natural Language Processing (NLP), Robotics, Computer Vision, Network Security, Other Applications
5) Artificial Intelligence Chip Market By Industry: Media and Advertising, BFSI, IT and Telecom, Retail, Healthcare, Automotive and Transportation, Other Industries
Top Major Players
Intel Corporation
Mediatek Inc.
NVIDIA Corporation
Qualcomm Technologies Inc.
Advanced Micro Devices Inc.
North America was the largest region in the artificial intelligence market in 2023. The regions covered in the artificial intelligence chip market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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Major Driver Impacting Market Growth
An increase in demand for smart homes and smart cities is expected to propel the growth of the artificial intelligence chips market going forward. A “”smart city”” refers to a city that uses digital or information-communication technology to improve the comfort and efficiency of human life. One strategy for urbanisation that aims to achieve sustainable growth is making cities equipped with cutting-edge features for residents to live, walk, shop, and enjoy a safer and more convenient existence. For instance, in March 2022, according to an article shared by Arab News, a Middle East English-language daily newspaper, Saudi Arabia launched a new smart city project in Jeddah for light industries and auto repair, opening the first two stages of the city, the second of which is a 500,000 square metre labour city. A total of 5 million square metres is covered by the Smart City initiative. Further, According to Saudi Vision 2030, a Saudi Arabia-based strategic framework, the city is distinguished by an interconnected infrastructure and the application of digital and smart technology to offer automated services to customers. Therefore, the increase in demand for smart homes and smart cities is driving the growth of artificial intelligence chips.
Key Industry Players
Major companies operating in the artificial intelligence chip market include Intel Corporation, Mediatek Inc, NVIDIA Corporation, Qualcomm Technologies Inc., Advanced Micro Devices Inc, Alphabet Inc, NXP Semiconductors N.V, Micron Technology Inc, IBM Corporation, Apple Inc, Huawei Technologies Co Ltd, Mythic Inc, Samsung Electronics Co ltd., LG Corporation, Google LLC, Advanced Micro Devices Inc, Baidu, Mellanox Technologies, Xilinx Inc., Graphcore, Cerebras Systems, Habana Labs, Vinova Pte Ltd., MemryX Inc., BrainChip Holdings Ltd., NeuReality Ltd.
The artificial intelligence chip market report table of contents includes:
1. Executive Summary
2. Artificial Intelligence Chip Market Characteristics
3. Artificial Intelligence Chip Market Trends And Strategies
4. Artificial Intelligence Chip Market – Macro Economic Scenario
5. Global Artificial Intelligence Chip Market Size and Growth
…..
32. Global Artificial Intelligence Chip Market Competitive Benchmarking
33. Global Artificial Intelligence Chip Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Artificial Intelligence Chip Market
35. Artificial Intelligence Chip Market Future Outlook and Potential Analysis
36. Appendix
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