The global artificial intelligence chipset market size is anticipated to register a considerable CAGR during the forecast period, 2021-2028. The growth of the market is attributed to the rapid growth in the volume of data, which requires high-speed processors to handle the task.
Artificial Intelligence (AI) chipsets are customized silicon chips that include AI technology and are utilized in machine learning. In several industrial verticals, AI helps to eliminate or reduce the risk related to human life
Due to the growing volume of data, the demand for more efficient methods to handle mathematical and computational issues is becoming vital. Thus, major players of the IT industry are focused on expanding AI chipsets and software. The COVID-19 pandemic is continuously hampering the production & supply of AI chipset across the globe due to shifting priorities and lockdowns. The market is expected to recover by the end of 2021 as organizations and industries are resuming their operations from office.
Market Trends, Drivers, Restraints, and Opportunities
- Inclination towards computer vision and machine learning devices is one of the key factors driving the market growth.
- Rise in investments for AI startups by key players is expected to boost the market growth in the coming years.
- Lack of skilled AI workforce is a major restraining factor, which is anticipated to hamper the market expansion during the projected timeline.
- Issues concerning to cyber-attacks on data store-houses is likely to hinder the market growth during the forecast period.
- Development of human-aware AI systems to improve consumer experience is projected to create a significant growth opportunity for the market in the near future.
Artificial Intelligence Chipset Market Scope
The report on the global artificial intelligence chipset market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Artificial Intelligence Chipset Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
Workload Domain (Inference and Training), Computing Technology (Edge AI Computing and Cloud AI Computing), Chipsets (ASIC, CPU, FPGA, GPU, and Others), and Verticals (Automotive, BFSI, Consumer Electronics, Healthcare, Manufacturing, Marketing, Retail & E-Commerce, and Others),
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
Key Players Covered in the Report
Google Inc.; Huawei Technologies Co., Ltd.; Advanced Micro Devices, Inc.; Graphcore; Intel Corp.; Baidu, Inc.; Qualcomm Technologies, Inc.; Apple Inc.; Mythic; and Xilinx Inc.
Artificial Intelligence Chipset Market Segment Insights
Training segment is expected to grow at a rapid pace
Based on workload domain, the global artificial intelligence chipset market is bifurcated into inference and training. The training segment is expected to grow at a rapid pace during the forecast period owing to continuous development of training chipsets by the major players in the region. However, the inference segment is anticipated to hold a key share of the market in the coming years attributed to growing need for edge computing due to privacy and safety concerns.
Rise in use of AI technology to drive cloud AI computing segment
On the basis of computing technology, the market is bifurcated into edge AI computing and cloud AI computing. The cloud AI computing segment is projected to expand at a considerable CAGR during the forecast period owing to significant rise in use of AI technology. Moreover, cloud-based segment results in major revenues compared to other segment for key players, which is further expected to drive the segment growth. On the other hand, the edge AI computing segment is anticipated to account for a major market share during the forecast period due to a considerable surge in edge-driven products, such as smartphones, surveillance devices, and autonomous vehicles.
GPU segment is anticipated to hold significant market share
In terms of chipsets, the global artificial intelligence chipset market is segregated into ASIC, CPU, FPGA, GPU, and others. The GPU segment is anticipated to hold significant market share in the coming years attributed to the capability to boost the performance and computing speed of the chipsets. However, the ASIC segment is expected to register a considerable CAGR during the forecast period due to the contribution in architecture for the development of AI chipsets.
Increase in AI chipset deployments to drive consumer electronics segment
On the basis of verticals, the market is segmented into automotive, BFSI, consumer electronics, healthcare, manufacturing, marketing, retail & e-commerce, and others. The consumer electronics segment is expected to account for major market share during the projected timeline owing to rise in number of AI chipset deployments in smart devices and smartphones. On the other hand, the automotive segment is expected to grow at a significant rate attributed to deployment of AI chipsets in autonomous vehicles for inference purposes.
North America is anticipated to constitute a key market share
In terms of regions, the global artificial intelligence chipset market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is expected to constitute a key share of the market during the projected period due to the growth in the adoption of AI technology in various industries in the region, such as manufacturing, automotive, retail, healthcare, and advertising, and others. However, Asia Pacific market is anticipated to expand at a rapid pace during the forecast period due to technological advancement in the region, which requires AI and chipsets for advancement and expected results in several industries.
The global artificial intelligence chipset market has been segmented on the basis of
- Edge AI Computing
- Cloud AI Computing
- Consumer Electronics
- Retail & E-Commerce
- Asia Pacific
- North America
- Latin America
- Middle East & Africa
Key players competing in the global artificial intelligence chipset market are Google Inc.; Huawei Technologies Co., Ltd.; Advanced Micro Devices, Inc.; Graphcore; Intel Corp.; Baidu, Inc.; Qualcomm Technologies, Inc.; Apple Inc.; Mythic; and Xilinx Inc. Companies are focusing on business strategies such as partnerships, collaborations, and merger & acquisitions to expand their market share. Furthermore, key players are also engaging to expand their capacity to leverage their market position.