AI Chip Market worth $311.58 billion by 2029 - Exclusive Report by MarketsandMarkets™

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=237558655

Browse in-depth TOC on "AI Chip Market" 
100 – Tables
50 – Figures
210 – Pages

AI Chip Market Report Scope:

By technology, the natural language processing segment is projected to grow at a significant CAGR of the AI Chip market during the forecast period.

The segment for natural language processing technology is expected to grow at a significant rate from during the forecast period. Applications, such as chatbots, virtual assistants, language translation services, sentiment analysis, and text analytics, all need NLP in processing and understanding human languages. Since the application is very wide, huge demand has been created for the powerful AI chips that could handle extensive computational requirements for NLP tasks, hence driving growth in the AI chip market. From the invention of large-scale language models like GPT-4 and BERT, complexity and size for NLP models increased. For instance, last May 2024, OpenAI released GPT-40, which is capable of reasoning on text, video, and audio in real-time; deployment in applications from content generation to virtual assistants underlines the fast-rising demand for AI chips supporting NLP.

By offering, the memory segment is projected to grow at a significant rate during the forecast period.

The memory segment is expected to grow at the high CAGR during the forecast period. There is a rapid growth in AI applications due to which there is increase in data generation and processing requirements. This increase in data volumes leads to increasing demand for advanced memory solutions such as High Bandwidth Memory (HBM), and DDR5 which are capable of storing and accessing large amounts of data efficiently. AI applications involving machine learning and deep learning require high-speed processing capabilities and rapid data access. Dynamic Random-Access Memory (DRAM) supports the need for faster computational performance with increasing complexity of AI algorithms. Advancements in DRAM such as shift to DDR5 provides high data transfer rate and improved energy efficiency. For instance, in May 2024, Micron Technology, Inc. (US) launched 32GB server DRAM with 128GB DDR5 memory that provides 22% better energy efficiency, 45% better bit density, and offers a speed of 5,600 MT/s on server platforms. The high-speed memory module is designed to support the most critical data center applications, such as artificial intelligence, machine learning, in-memory databases, high-performance computing, and efficient processing. Improvements in these technologies for memory solutions driving the workload of AI are drivers for the adoption of DRAM solutions and fuel memory segment growth.

The Healthcare segment is projected to grow at a high CAGR of the AI Chip market during the forecast period.

The adoption rate for AI chips in healthcare is currently on the rise. The medical institutions and technology companies have started spurring advanced AI capabilities for improved diagnostics, treatment planning, and personalized medicine. In this respect, the adoption of AI chips in the development of large language models and other AI-driven medical applications has totally revolutionized health sectors in terms of their enabling more accurate and timely medical interventions. In October 2022, Cerebras announced it was partnering with the Mayo Clinic to develop large language models for medical applications. They created the Rheumatoid Arthritis diagnostic model using the Cerebras CS-2 to integrate patient records, DNA data, and drug information to pair patients with the most effective therapeutics. Such AI chips would thus be most critical in furthering personalized medicine, in which treatment plans are tailored for a unique genetic and medical profile for each patient, within the processing of these vast data sets and intricate algorithms.

Inquiry Before Buying: https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=237558655

Noth America is poised for high growth in the AI Chip market by 2029.

The US, Canada, and Mexico are the major contributors to the North American AI chip industry. North America is a dominant contributor to the AI chip market in terms of market share. The AI chip manufacturers in North America collaborate with industry partners, research institutions, and government agencies to expand market reach and drive technological innovation. These players are participating in strategic alliances to accelerate the adoption of AI chips technology in emerging sectors thus supporting the market growth in North America. Leading companies in North America, such as Qualcomm Technologies, Inc. (US), Advanced Micro devices, Inc. (AMD) (US), Intel Corporation (US), Google (US), provide AI chips for data centers and various industries. These companies significantly invest in R&D to improve the reliability, performance, and efficiency of AI Chip technology. This includes advancements in manufacturing processes and design techniques to meet the evolving demands of different industries in the region. Extensive focus of regional players in new product development and innovations will boost the AI chip market growth across North America over the forecast timeline.

Key Players

Key companies operating in the AI Chip companies are NVIDIA Corporation (US), Advanced Micro Devices, Inc. (AMD) (US), Intel Corporation (US), Micron Technology, Inc. (US), Google (US), Qualcomm Technologies, Inc. (US), Apple Inc. (US), Huawei Technologies Co., Ltd. (China), SK Hynix Inc. (South Korea), Samsung (South Korea), Imagination Technologies (UK), Graphcore (UK), and Cerebras (US).

Get 10% Free Customization on this Report: https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=237558655

Browse Adjacent Market: Semiconductor and Electronics Market Research Reports &Consulting

Related Reports: 

Data Center GPU Market Size, Share & Industry Trends Analysis Report by Deployment Type (Cloud, On-premise), Function (Training, Inference), End User (Cloud Service Providers, Enterprises, Government) and Region (North America, Europe, Asia Pacific, ROW) - Global Forecast to 2028

Automotive Artificial Intelligence (AI) Market by Offering, Technology (Deep Learning, Machine Learning, Computer Vision, Context-aware Computing and Natural Language Processing), Process, Application, Component and Region - Global Forecast to 2027

Artificial Intelligence in Manufacturing Market Size, Share & Industry Growth Analysis Report by Offering (Hardware, Software, Services), Technology (Machine Learning, Natural Language Processing), Application (Predictive Maintenance & Machinery Inspection, Cybersecurity) - Global Forecast to 2028

Industry 4.0 Market Size, Share & Industry Growth Analysis Report by Technology (Industrial Robots, Blockchain, Industrial Sensors, Industrial 3D Printing, Machine Vision, HMI, AI in Manufacturing, Digital Twin, AGV's, Machine Condition Monitoring) and Geography - Global Growth Driver and Industry Forecast to 2028

Artificial Intelligence in Supply Chain Market by Offering, Technology, Application (Fleet Management, Supply Chain Planning, Warehouse Management, Virtual Assistant, Freight Brokerage), End-User Industry, and Geography - Global Forecast to 2025

About MarketsandMarkets™

MarketsandMarkets™ has been recognized as one of America's best management consulting firms by Forbes, as per their recent report.

MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.

Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.

The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.

Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.

To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.

Contact:
Mr. Rohan Salgarkar
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: [email protected]
Visit Our Web Site: https://www.marketsandmarkets.com/
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/artificial-intelligence-chipset-market.asp
Content Source: https://www.marketsandmarkets.com/PressReleases/ai-chipset.asp

Logo: https://mma.prnewswire.com/media/1951202/4609423/MarketsandMarkets.jpg

SOURCE MarketsandMarkets