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AI is the most applied technology today as it enables machines to perform activities similar to those performed by human beings and helps to eliminate or minimize the risk to human life in many industry verticals. As per reports, nearly one half of all electronics will have some form of imbedded intelligence by 2024.
Artificial intelligence (AI) chipsets are specialized silicon-based chips powered with AI technologies, such as machine learning, deep learning, natural language processing, computer vision, speech recognition and neural network processing etc. These chipsets are designed such that they consume low power and offer high computing capabilities to smart devices, such as smartphones, laptops, and smart wearables and are faster than the GPU or CPU. These chipsets increase the operational performance of the device with advanced augment reality (AR), virtual reality (VR), and analytical functions and enhance the user experience.
It is broadly applied in industries including finance, education, healthcare, logistics, and transportation for application areas such as autonomous vehicles, intelligent robots, smart healthcare, smart homes, smart cities, smart finance, intelligent security, intelligent hardware, self-service store, and intelligent education.
The global artificial intelligence (chipsets) market is projected to witness growth at a tremendously growing CAGR over the next few years.
The growth of this market is attributed towards major pertaining factors including; the growing need for processing the robustly increasing large and complex datasets, the increasing focus on developing human-aware AI systems, the increasing adoption of AI for improving consumer services and reducing operational costs, the growing number of AI applications, the increasing growth of machine learning in various sectors, the increasing usage of smartphones and smart devices and the increasing investments and number of technological advancements & innovations by the market players etc.
Additionally, due to the constant evolution of AI algorithms, cloud AI chipsets which focus on AI workload are designed to support wide range of AI models, from rule-based AI to deep learning models, with various resource requirements. As compared to edge AI chipsets, cloud AI chipsets generally have higher computational power, higher power consumption, larger physical footprint and are therefore costlier. The enhancement and upgrade in cloud AI chipsets which is expanding the cloud computing power is comprehensively boosting the overall growth of this market.
Moreover, wearables such as smartwatches and smart rings, and virtual assistants like Amazon's Alexa are becoming more and more popular owing to their efficiency in helping people carry out their day to day activities. This is fueling the demand and the growth of this market tremendously. Also, the advent multi-processor AI chipsets which learn from the environment, users, and machines to uncover hidden pattern among data, predict actionable insight, and perform actions based on specific situations is also expected to bolster growth for this market.
Furthermore, several initiatives for development of smart cities, increasing developments in the manufacturing of driverless cars, integration of AI with edge computing devices, emergence of new technologies coupled with evolving machine learning tools, the growing demand for high-speed computing processors due to rise in data complexity, the increase in implementation of AI chips in robotics, the emergence of quantum computing and rapid adoption of cloud-based services, along with the user-friendly approach of antivirus/antimalware solutions are further enhancing the demand and growth of this market.
Most importantly, the global halt due to the recent outbreak of COVID-19 has caused a decline in the adoption of AI-based software and hardware products as many SMEs and large manufacturing plants have stopped/postponed any new technology upgrade in factories to recover from the losses caused by the safety regulations and measures. However, the outbreak has impacted the educational industries rather positively, with ed-tech companies adopting AI technology to impart education during the lockdown. Ed-tech firms have deployed AI tools to enhance online learning and virtual classroom experience for students, which is increasingly enhancing the global AI Chipsets market.
However, the lack of technical expertise, skilled workforce and AI standards, the low return on investment, and the availability of only limited structured training data are factors that hinder the growth of this market.
ARTIFICIAL INTELLIGENCE (CHIPSETS) MARKET SEGMENTATION:
By Processing Type:
By End-User Industry:
The North American region has been dominating the AI Chipsets market followed by Europe in the recent years and is also anticipated to maintain its position at the top in the next few coming years. This can be well attributed to the increasing adoption of AI (chipsets) in security applications, growth in the adoption of AI technology in various industries, the growth of AI-enabled healthcare devices, the increasing government support, the presence of majority of key players and technology giants in the region, the improving purchasing power of people, the rising investments in infrastructure and the rapid increase in technological advancements and innovations in the region etc. The major contributors in the region are The U.S. and Canada.
The Asia-Pacific region is the fastest growing regional market for AI Chipsets and is projected to register growth at a tremendous rate in the forthcoming years owing to the increasing adoption of AI across various end-user industries, the major presence of smartphone manufacturers and semiconductor industries in the emerging economies of the region, the rapidly rising population, the growing number of AI startup companies in countries like India and China and the growing governmental initiatives in the region regarding the usage of AI and its related components etc. The major contributing nations in the region are India, Japan and China.
FEW KEY PLAYERS IN ARTIFICIAL INTELLIGENCE (CHIPSETS) MARKET:
- 2019: Base Year
- 2020 to 2025: Forecast Period
Research Scope and Deliverables
Overview & Executive Summary
Market Drivers, Trends, Challenges and Opportunities
Market Size and Forecast Projections
Macroeconomic Indicators of Various Countries Impacting the Growth of the Market
Extensive Coverage of Industry Players including Recent Product Launches and Market Activities
Porter’s Five Force Analysis
Market Segmentation Analysis:
Industry report analyzes the global artificial intelligence (chipsets) market by the following segments:
Customization: We also offers customization’s in the industry report as per the company’s specific needs.
Key Questions Answered in the Global Artificial Intelligence (Chipsets) Industry Report
The report offers a comprehensive insight on the Artificial Intelligence (AI) Chipsets Market share, competitor landscape, market trends, growth, revenue, and key driver’s analysis with coverage of key players, top geographies, product types and end user.
Exhaustive secondary research and in-depth primary interviews with industry experts has been conducted to present qualitative and quantitative insights in the report.
We offer customizations as per client’s specific needs.