PORTLAND, Oregon, January 29, 2019 /PRNewswire/ --
Heavy inflow of investments in AI startups, rise in demand for smart cities & smart homes, and emergence of quantum computing would propel the growth of the global artificial intelligence chip market
Allied Market Research published a report, titled, "Artificial Intelligence Chip Market by Chip Type (GPU, ASIC, FPGA, CPU, and Others), Application (Machine Learning, Natural Language Processing (NLP), Robotic Process Automation, Speech Recognition, and Others), Technology (System-on-chip, System-in-package, Multi-chip Module, and Others), and Industry vertical (Media & Advertising, BFSI, IT & Telecom, Retail, Healthcare, Automotive & Transportation, and Others) - Global Opportunity Analysis and Industry Forecast, 2018-2025." The report offers comprehensive insights on the top investment pockets, market size & estimations, growth factors & opportunities, strategic developments, and competitive landscape. According to the report, the global artificial intelligence chip market garnered $4.51 billion in 2017 and is expected to reach $91.19 billion by 2025, registering a CAGR of 45.4% from 2018 to 2025.
Increase in investments in AI startups, proliferation of smart city & smart home projects, and rise in adoption of quantum computing drive the growth of the market. However, scarcity of skilled workforce would restrain the growth of the industry. On the other hand, adoption of AI chips in developing countries and intensive R&D activities in the field of smart robotics would create new opportunities for the market players in future.
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Graphics processing unit (GPU) chip segment to accrue highest revenue through 2025
The GPU chip segment contributed one-third share of the total market revenue in 2017. This segment is expected to maintain its lead position by 2025, owing to the increasing use of GPUs in non-graphic applications such as programming languages & tools, general purpose computing, and others coupled with its remarkable capability of parallel processing. However, the other chip type segment would register the fastest CAGR of 55.3% from 2018 to 2025, owing to rapid development of chips such as neuromorphic processing units (NPU) and hybrid chips with the extensive scope of applications in various sectors. The report also analyzes other chip types such as application-specific integrated circuit (ASIC), field-programmable gate array (FPGA), and central processing unit (CPU).
Machine learning segment to remain dominant by 2025
The machine learning segment accounted for more than half of the total market revenue in 2017, owing to its considerable applications in various sectors such as healthcare, legal systems, engineering, and finance. However, the speech recognition segment would register the fastest CAGR of 55.6% from 2018 to 2025, owing to its extensive applications in areas such as device control, voice transcription, car Bluetooth systems, and others coupled with high adoption in radiology and other healthcare sectors. The report analyzes several applications including robotics, natural language, and others.
SoC technology segment to retain lead in terms of revenue through 2025
The system-on-chip (SoC) segment contributed nearly three-fifths of the total market revenue in 2017 and is expected to remain dominant throughout the forecast period. This is due to the associated advantages such as improved flexibility, high performance, enhanced power-efficiency, and low cost of devices. However, the other technologies segment, which comprises 3D integration, package in package (PiP), and through-silicon via (TSV), would register the fastest CAGR of 56.2% during the forecast period. This is attributed to advantages such as improved connectivity, low power consumption, and high efficiency in AI applications. The report also offers in-depth insights on system-in-package and multi-chip module segments.
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Edge processing type segment to be lucrative through 2025
The edge processing type segment contributed nearly three-fifths of the total market revenue in 2017 and would maintain its lead by 2025. Moreover, this segment is expected to register the highest CAGR of 47.7% from 2018 to 2025, owing to rapid technological advancements and increased adoption of augmented reality, virtual reality, and machine learning in various industries. In addition, several benefits such as low data management & connectivity costs, minimal latency rate, enhanced mobility among others supplement the market growth. The report also analyzes the cloud processing type segment.
BFSI segment to remain dominant throughout the forecast period
BFSI segment contributed nearly one-fourth share of the total market revenue in 2017 and is expected to remain dominant through 2025. This is attributed to the increasing scope of applications of machine learning systems to track illegal payment activities as well as use of speech recognition technology for telephonic customer service interactions. However, other industry verticals segment, which comprises agriculture, law, educational institutions, and others, contributed the highest CAGR of 54.2% from 2018 to 2025, owing to the rise in demand for virtual mentoring, interconnectedness of classrooms, and user modeling, legal research sector for contract analysis, case prediction, e-discovery, compliance, and document automation in educational sector as well as for tracking crop conditions, monitoring weather conditions, and predicting diseases in the agriculture sector. The report also analyzes several industry verticals including media & advertising, IT & telecom, healthcare, automotive & transportation, and retail.
Asia-Pacific to grow the fastest by 2025
Asia-Pacific is projected to register the fastest CAGR of 50% from 2018 to 2025, owing to the high adoption of virtual personal assistants, social media, online video, and smartphones in the region along with implementation of AI technologies in finance & healthcare sectors. However, North America contributed nearly two-fifths of the total market revenue in 2017, owing to rise in R&D of autonomous vehicles coupled with technological advancements in cybersecurity, healthcare, and security & access control. Furthermore, increase in penetration of head-up display screens in smart wearables and luxury cars and surge in venture capital investments have supplemented the market growth. The other regions analyzed in the study include Europe and Latin America, Middle East, and Africa (LAMEA).
Torchbearers of the industry
The key market players analyzed in the report include Advanced Micro Devices, Inc., Intel Corporation, Google, Inc., Baidu, Inc., NVIDIA Corporation, Qualcomm Incorporated, Graphcore, UC-Davis, Adapteva, and Mythic, Inc. The report includes business strategies such as new product launches, expansion, joint ventures, collaborations, mergers & acquisitions, and others, which have been adopted by market players to gain a lead position in the industry.
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