FELTON, Calif., Oct. 7, 2020 /PRNewswire/ -- The global artificial intelligence chipset market is projected to account for USD 59.2 billion by 2025, according to a new report by Million Insights, and expected to grow with 33.6% CAGR over the forecast period, from 2019 to 2025. Artificial intelligence chip is a dedicated component used in electronic and smart devices to run machine learning applications. Additionally, growing a large amount of data has increased the need for high speed processors and fast computing. For example, Apple has incorporated a neural engine in A11 Bionic chip's GPU in order to run third-party applications fast. Rising adoption of AI technology in smart devices is expected to boost market growth over the forecast period.
Owing to the growing application of AI technology from smartphones to automotive industry, the adoption of AI chipsets is increasing extensively. In addition, growing number of smart homes and smart cities projects across the globe is widely providing growth opportunities to the AI chipsets market. The demand for high-speed processors is increasing due to a rise in data complexity, thereby, expected to drive the artificial intelligence (AI) chipset market growth over the forecast period.
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The rapid adoption of AI chipset in the consumer electronics industry due to the growing demand for high-speed processors. Different types of semiconductors/hardware are being launched by using deep learning and machine learning in artificial intelligence technology. AI-enabled devices are widely used across various industries, especially in consumer electronics which is expected to provide new opportunities in the semiconductor industry. Adoption of AI technology for high-speed processors helps to reduce operational as well as maintenance costs across various industries which are expected to drive the market growth in the next few years.
Further key findings from the report suggest:
- Development of smart city projects and increasing number of smart homes is projected to drive the demand for artificial intelligence chipsets market.
- Integration of AI technology using deep learning and machine learning is expected to open new avenues for market growth. Key market players including IBM Corporation are engaged in developing new features in artificial intelligence capabilities like storytelling and natural language dialogue in AI chipset tools.
- Market players are concentrating on offering advanced electronic components, which provides high-tech features such as visual intelligence for better recognition and differentiation of objects, locations, and spaces.
- Prominent players are adopting partnerships and acquisitions strategies with emerging players for expanding their product offering with advanced features.
- The major key players include in this market are Adapteva, Inc.; Qualcomm Technologies, Inc.; Graphcore; Google Inc.; Intel Corporation; Advanced Micro Devices, Inc.; Xilinx Inc. and Huawei Technologies Co., Ltd.
Browse 100 page research report with TOC on "Global Artificial Intelligence Chipset Market" at: https://www.millioninsights.com/industry-reports/global-artificial-intelligence-ai-chipset-market
Million Insights has segmented the global artificial intelligence chipset market on the basis of chipset type, workload domain, computing technology, vertical, and region:
- AI Chipset Type Outlook (Revenue, USD Billion, 2014 - 2025)
- AI Chipset Workload Domain Outlook (Revenue, USD Billion, 2014 - 2025)
- AI Chipset Computing Technology Outlook (Revenue, USD Billion, 2014 - 2025)
- Cloud AI Computing
- Edge AI Computing
- AI Chipset Vertical Outlook (Revenue, USD Billion, 2014 - 2025)
- Retail & E-Commerce
- Consumer Electronics
- AI Chipset Regional Outlook (Revenue, USD Billion, 2014 - 2025)
- North America
- Asia Pacific
- South America
- Middle East & Africa
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SOURCE Million Insights