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 market 2020 can progress at a striking rate of 39.18% over the forecast period, which is between 2014 and 2025. The market value by 2025 can reach USD 38.46 Billion, indicating colossal gains backed by several conducive factors.
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.
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IBM Corporation (US), Huawei Technologies Co. Ltd (China), Advanced Micro Devices (US), Samsung Electronics Co., Ltd (South Korea), Micro Technology (US), Intel Corporation (US), Qualcomm Technologies Inc. (US), NVIDIA Corporation (US), are the leading competitors in the AI chipset industry.
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.
The artificial intelligence (AI) chipset market has been broadly covered in the report, while keeping in mind the primary segments of component, technology, application and vertical.
The components described in the report are hardware (processors such as GPU, CPU, FPGA ASIC), network, memory) as well as software. In 2018, hardware was the largest segment in the market and was valued at USD 3,247.9 Million.
The types of technology in the report include natural language processing, machine learning, and others. Machine learning was identified as the most sought after segment in the market in the year 2018, holding the highest value.
The segments, depending on application, are smart wearable, security systems, smartphones, automobile, robotics and medical imaging. In 2018, the smartphone segment achieved the top position with maximum value in the global market.
The verticals specified in the report are healthcare, consumer electronics, IT & telecommunication, media & entertainment, retail, BFSI and automotive. The lead was taken by the consumer electronics segment in 2018, holding the highest value in the global industry.
Google recently made use of artificial intelligence to boost their AI chip production. The team use reinforcement-learning algorithm to develop thousands of chip floor plans in just a second or less.
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