The AI (chipsets) market is expected to be valued at USD 7.3 billion in 2020 and is likely to reach USD 57.8 billion by 2026, at a CAGR of 40.1% during the forecast period.
Major drivers for the market are increasingly large and complex datasets driving the need for AI, the adoption of AI for improving consumer services & reducing operational costs, the growing number of AI applications, the improving computing power, and growing adoption of deep learning and neural networks.
The major restraint for the market is the lack of a skilled workforce. Critical challenges facing the AI (chipsets) market include low return on investment, creating models & mechanisms for AI, and the availability of limited structured training data. Underlying opportunities in the AI (chipsets) market include increasing focus on developing human-aware AI systems and bringing AI to edge devices.
The machine learning technology is expected to account for the largest size of the AI (chipsets) market during the forecast period.
Machine learning's ability to collect & handle big data & its applications in real-time speech translation, autonomous robots, and facial analysis are fuelling its growth. AI constitutes various technologies that play a vital role in developing its ecosystem. As AI enables machines to perform activities similar to those performed by human beings, enormous market opportunities have opened up.
The predictive maintenance and machinery inspection application in the manufacturing industry of the AI (chipsets) market is projected to hold the largest share during the forecast period.
The predictive maintenance and machinery inspection application held the largest share among the manufacturing applications of the AI (chipsets) market in 2019. Extensive use of computer vision cameras in machinery inspection, adoption of the Industrial Internet of Things (IIoT), and use of big data in the manufacturing industry are the factors driving the growth of the predictive maintenance and machinery inspection application. The increasing demand for reducing the operational costs and machine downtime is also supplementing the growth of predictive maintenance and machinery inspection application in industries.
The cybersecurity industry held the largest size of the AI (chipsets) market in 2019.
AI is significantly used in antivirus and anti-malware solutions owing to the rise in cybersecurity attacks across the world. Increasing use of mobile devices for a wide range of applications, such as social networking, e-mails, remote monitoring, phone banking, and data storage, opens doors for hackers to attack, thereby making networks more vulnerable to risks. The rapid adoption of cloud-based services, along with the user-friendly approach of antivirus/anti-malware solutions, is contributing to the growth of this end-user industry of the AI (chipsets) market.
Impact of COVID-19 on the AI (chipsets) market
The market is likely to witness a slight plunge in terms of year-on-year growth in 2020. This is largely attributed to the affected supply chains and limited adoption of AI in various end-user industries in 2020 due to the lockdowns and shifting priorities of different industries. The ongoing COVID-19 pandemic has caused disruptions in economies. It is likely to cause supply chain mayhem and eventually force companies and entire industries to rethink and adapt to the global supply chain model. Many manufacturing companies have halted their production, which has collaterally damaged the supply chain and the industry. This disruption has caused a delay in the adoption of AI-based software and hardware products. The industries have started to restructure their business model for 2020, and many SMEs and large manufacturing plants have halted/postponed any new technology upgrade in their factories to recover from the losses caused by the lockdown and economic slowdown. COVID-19 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.
Several industries are worse hit by this pandemic, but some industries are profiting from this pandemic. However, the adoption of AI is expected to grow. Therefore, we can say the COVID-19 will drive the AI (chipsets) market for certain industries
4 Premium Insights 4.1 Overview of the AI (Chipsets) Market 4.2 AI (Chipsets) Market, by Hardware 4.3 Machine Learning AI (Chipsets) Market, by Subtype 4.4 Asia-Pacific: AI (Chipsets) Market, by End-User Industry and Country 4.5 AI (Chipsets) Market, by Country 5 Market Overview 5.1 Introduction 5.2 Market Dynamics 5.2.1 Drivers 188.8.131.52 Increasingly Large and Complex Dataset Driving the Need for Ai 184.108.40.206 Adoption of AI for Improving Consumer Services and Reducing Operational Cost 220.127.116.11 Growing Number of AI Applications 18.104.22.168 Improving Computing Power 22.214.171.124 Growing Adoption of Deep Learning and Neural Networks 5.2.2 Restraints 126.96.36.199 Lack of Skilled AI Workforce 5.2.3 Opportunities 188.8.131.52 Increasing Focus on Developing Human-Aware AI Systems 184.108.40.206 Bringing AI to Edge Devices 5.2.4 Challenges 220.127.116.11 Low Return on Investment 18.104.22.168 Creating Models and Mechanisms for Ai 22.214.171.124 Limited Structured Data 5.3 Impact of COVID-19 5.4 Ecosystem 5.5 Pricing Analysis 5.6 Technology Analysis 5.7 List of Emerging Sme's and Start-Ups of AI (Chipsets) Market 5.8 Case Studies
6 Artificial Intelligence (Chipsets) Market, by Hardware 6.1 Introduction 6.2 Processor 6.2.1 High Parallel Processing Capabilities and Improved Computing Power Have Resulted in Adoption of Processors 6.3 Memory 6.3.1 High-Bandwidth Memory is Being Developed and Deployed for AI Applications, Independent of Its Computing Architecture 6.4 Network 6.4.1 NVIDIA (Us) and Intel (Us) are Key Providers of Network Interconnect Adapters for AI Applications 7 Artificial Intelligence (Chipsets) Market, by Technology 7.1 Introduction 7.2 Machine Learning 7.2.1 Deep Learning 126.96.36.199 Deep Learning Uses Artificial Neural Networks to Learn Multiple Levels of Data 7.2.2 Supervised Learning 188.8.131.52 Classification and Regression are Major Segments of Supervised Learning 7.2.3 Unsupervised Learning 184.108.40.206 Unsupervised Learning Includes Clustering Methods Consisting of Algorithms with Unlabeled Training Data 7.2.4 Reinforcement Learning 220.127.116.11 Reinforcement Learning Allows Systems and Software to Determine Ideal Behavior for Maximizing the Performance of Systems 7.2.5 Others 7.3 Natural Language Processing 7.3.1 Nlp is Developed for Real-Time Translation and Developing Systems That Can Interact Through Dialogues 7.4 Context Aware Computing 7.4.1 Development of More Sophisticated Hard and Soft Sensors Has Accelerated the Growth of Context Aware Computing 7.5 Computer Vision 7.5.1 Computer Vision Analyzes Information of Different Geometric Shapes, Volumes, and Pattern 7.6 Predictive Analysis 7.6.1 Predictive Analysis is Majorly Used in Agriculture Applications 8 Artificial Intelligence (Chipsets) Market, by Function 8.1 Introduction 8.2 Training 8.2.1 Building a Good Model is Directly Related to the Quality and Quantity of Data Used in the Process of a Learning Model 8.3 Inference 8.3.1 On-Premises Inference Platform is Adopted to Gain Faster Results Than That of Cloud 9 Artificial Intelligence (Chipsets) Market, by End-User Industry 9.1 Introduction 9.2 Healthcare 9.2.1 Growing Patient Data is Driving the Adoption AI in Healthcare 18.104.22.168 Patient Data & Risk Analysis 22.214.171.124 Lifestyle Management & Monitoring 126.96.36.199 Precision Medicine 188.8.131.52 Inpatient Care & Hospital Management 184.108.40.206 Medical Imaging & Diagnostics 220.127.116.11 Drug Discovery 18.104.22.168 Virtual Assistant 22.214.171.124 Wearables 126.96.36.199 Research 188.8.131.52 Healthcare Assistance Robots 184.108.40.206 Emergency Room & Surgery 220.127.116.11 Mental Health 18.104.22.168 Cybersecurity 9.3 Manufacturing 9.3.1 Industry 4.0 is the Driving Factor for AI Adoption in Manufacturing 22.214.171.124 Material Movement 126.96.36.199 Predictive Maintenance and Machinery Inspection 188.8.131.52 Production Planning 184.108.40.206 Field Services 220.127.116.11 Reclamation 18.104.22.168 Quality Control 9.4 Automotive 9.4.1 Automated Driving Using AI is the Trend in this Industry 22.214.171.124 Autonomous Driving 126.96.36.199 Human-Machine Interface 188.8.131.52 Semi-Autonomous Driving 9.5 Agriculture 9.5.1 Adoption of AI Technologies Such as Ml and Computer Vision is Driving the Market 184.108.40.206 Precision Farming 220.127.116.11 Livestock Monitoring 18.104.22.168 Drone Analytics 22.214.171.124 Agricultural Robots 126.96.36.199 Labor Management 188.8.131.52 Others 9.6 Retail 9.6.1 Enhanced Customer Experience due to AI is Driving Its Adoption in Retail 184.108.40.206 Product Recommendation and Planning 220.127.116.11 Customer Relationship Management 18.104.22.168 Visual Search 22.214.171.124 Virtual Assistant 126.96.36.199 Price Optimization 188.8.131.52 Payment Services Management 184.108.40.206 Supply Chain Management and Demand Planning 220.127.116.11 Others 9.7 Cybersecurity 9.7.1 Increased Number of Cybersecurity Threats is Leading to the Adoption of AI in this Industry 18.104.22.168 Identity and Access Management (Iam) 22.214.171.124 Risk and Compliance Management 126.96.36.199 Encryption 188.8.131.52 Data Loss Prevention 184.108.40.206 Unified Threat Management 220.127.116.11 Antivirus/Antimalware 18.104.22.168 Intrusion Detection/Prevention Systems 22.214.171.124 Others 9.8 Human Resources 9.8.1 AI Adoption in Hr is Reshaping How Companies Operate 126.96.36.199 Virtual Assistant 188.8.131.52 Sentiment Analysis 184.108.40.206 Scheduling Group Meetings and Interviews 220.127.116.11 Personalized Learning and Development 18.104.22.168 Applicant Tracking & Assessment 22.214.171.124 Employee Engagement 126.96.36.199 Resume Analysis 9.9 Marketing 9.9.1 AI Has Major Applications in Marketing 188.8.131.52 Social Media Advertising 184.108.40.206 Search Advertising 220.127.116.11 Dynamic Pricing 18.104.22.168 Virtual Assistant 22.214.171.124 Content Curation 126.96.36.199 Sales & Marketing Automation 188.8.131.52 Analytics Platform 184.108.40.206 Others 9.10 Law 9.10.1 AI is Being Used in Law to Increase Productivity and Margins 220.127.116.11 Ediscovery 18.104.22.168 Legal Research 22.214.171.124 Contract Analysis 126.96.36.199 Case Prediction 188.8.131.52 Compliance 184.108.40.206 Others 9.11 Fintech 9.11.1 AI is Used in Fintech Companies to Design Investment Strategies 220.127.116.11 Virtual Assistant 18.104.22.168 Business Analytics and Reporting 22.214.171.124 Customer Behavior Analytics 126.96.36.199 Others 9.12 Government 9.12.1 Government Bodies are Adopting AI to Tackle Cyberterrorism
10 Artificial Intelligence (Chipsets) Market, by Region 10.1 Introduction 10.2 North America 10.3 Europe 10.4 APAC 10.5 Rest of the World
11 Competitive Landscape 11.1 Overview 11.2 Market Ranking Analysis: AI (Chipsets) Market 11.3 Market Share Analysis 11.4 Competitive Leadership Mapping 11.4.1 Visionary Leaders 11.4.2 Dynamic Differentiators 11.4.3 Innovators 11.4.4 Emerging Companies 11.5 Competitive Situation and Trends 11.5.1 New Product Developments and Launches 11.5.2 Collaborations and Partnerships 11.5.3 Acquisitions 12 Company Profiles 12.1 Key Players 12.1.1 NVIDIA 12.1.2 Intel 12.1.3 Xilinx 12.1.4 Samsung 12.1.5 Micron 12.1.6 Qualcomm Technologies 12.1.7 IBM 12.1.8 Google 12.1.9 Microsoft 12.1.10 Amazon Web Services (AWS) 12.2 Other Companies 12.2.1 AMD 12.2.2 General Vision 12.2.3 Graphcore 12.2.4 Mediatek 12.2.5 Huawei Technologies 12.2.6 Fujitsu 12.2.7 Wave Computing 12.2.8 Mythic 12.2.9 Zero Asic 12.2.10 Koniku 12.2.11 Tenstorrent 12.2.12 Sambanova 12.2.13 Kalray 12.2.14 XMOS 12.2.15 Greenwaves Technologies