Deep Learning Chipset Market Share, Growth & Forecast 2031

Report Description

Deep Learning Chipset Market Outlook 2031

The global deep learning chipset market size was around USD 7.70 billion in 2022 and is expected to reach USD 88.69 billion by 2031, expanding at a CAGR of around 31.2% during the forecast period, 2023 to 2031. The growth of the market is attributed to the increasing adoption of deep learning in various industries across the globe.

Deep learning chips are built with integrated artificial intelligence, which are designed for accelerating Artificial Neural Networks (ANN). ANN known as deep learning or Deep Neural Network (DNN) is a subsection of machine learning (MI). It comes under artificial intelligence, which combines several computing commands or algorithms that are carried out simultaneously.

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Deep learning chips go through a training phase, which allows them to learn new and various capabilities from the existing collected data. Deep learning chips make the collection, analysis, and interpretation of huge amounts of data easy. Deep learning chips include hardware architecture, memory storage, complementary packaging, and interconnect solutions.

Deep learning technology allows for AI to be utilized in various deep learning applications to turn data into knowledge. Deep learning chips facilitate faster computation in comparison with general-purpose hardware. Deep learning chip technology delivers parallel processing capabilities. This specialized hardware offers around four times more bandwidth than traditional computing chips.

Such bandwidth is necessary for parallel processing in deep learning applications. Rising need for image recognition, voice recognition, data centers, smart homes, smart cities, and others drives the wide adoption of deep learning chipset technology for various deep learning applications.

COVID-19 Impact

The COVID-19 pandemic affected several industries such as the manufacturing industry across the globe. The lockdown, social distancing policies, travel bans, unavailability of raw materials & labor, and other pandemic-related restrictions resulted in a halt in production, disruption of the supply chain, and shut down of several manufacturing units worldwide.

The decrease in production and shutdown of production facilities affected the global deep learning chipset market negatively. However, the slack in the pandemic-related restrictions and the opening of closed manufacturing units are estimated to boost the global deep learning chipset market growth in the coming years.

Deep Learning Chipset Market Dynamics

The global deep learning chipset market research report presents a complete overview by providing detailed information about the current market trends, existing drivers, growth opportunities and potentials, and emerging challenges. The global deep learning chipset market report has up-to-date insights about market dynamics and market scenarios that can shape the overall market performance and output during the forecast period, 2022 to 2030.

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Major Trends:

Wide adoption of artificial intelligence in various industries is one of the key market trends

Artificial intelligence and quantum computing are increasingly adopted within several industries such as the gaming industry. The wide adoption of graphics processing units to perform several complex tasks simultaneously in the gaming industry is one of the key market trends.

Key Drivers:

Increasing digitization drives the global deep learning chipset market

The expansion of the IT & telecommunications industry and growing digitization across various other industries spur the global deep learning chipset market. Deep learning algorithms gather and diagnose the available data, which enhances the decision-making process. This factor propels the deep learning chipset market.

Growing number of cyber-attacks boosts the global deep learning chipset market

An increasing number of cyber-attacks and rising threats on sensitive data propels companies to adopt deep learning algorithms for various cybersecurity applications such as database management and fraud detection. This factor is estimated to spur the global deep learning chipset market during the forecast period.

Existing Challenges:

Lack of skilled workforce hampers the global deep learning chipset market growth

Artificial intelligence systems need skilled professionals to design, operate, and adopt artificial intelligence systems for various applications. Lack of such a skilled workforce with specific skill sets is anticipated to hinder the global deep learning chipset market growth in the coming years.

Emerging Opportunities:

Increasing demand for advanced technologies offers growth opportunities

Growing research and development activities offer innovative and advanced technologies such as smart robotics technology and human-aware AI systems. The increasing demand for such innovative technologies offers growth opportunities to the market players.

Scope of The Deep Learning Chipset Market Report

The report on the global deep learning chipset market includes an assessment of the market trends, segments, and regional markets. Market overview and dynamics have also been included in the report.

Deep Learning Chipset Market Segment Insights

Graphics processing units (GPUs) segment holds a key market share

On the basis of chip type, the global deep learning chipset market is divided into graphics processing units (GPUs), central processing units (CPUs), application-specific integrated circuits (ASICs), field programmable gate arrays (FPGAs), and others. The graphics processing units (GPUs) segment is expected to drive the global market during the forecast period, owing to the increasing adoption of GPUs to run simultaneous computations.

GPUs consist of several cores, which allows them to run different computations concurrently. GPUs are specific processors with dedicated memory, which facilitates easy training of deep learning models quickly. These are the key factors that boost the GPUs segment growth.

The application-specific circuits (ASICs) segment is anticipated to register growth in the coming years, as it is considered as the highest-performing hardware for AI applications in comparison with other hardware options. ASICs are less flexible and specific, which helps in improving their performance. These factors spur the ASICs segment growth.

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System-on-chip (SOC) segment holds a large share of market revenue

Based on technology, the global deep learning chipset market is segregated into system-in-package (SIP), system-on-chip (SOC), multi-chip modules, and others. The system-on-chip (SOC) segment is projected to hold a key market share during the forecast period, as it is a space-saving, cost-saving, and energy-saving option.

System-on-chip allows companies to speed up the workings of neural networks by using an Advanced RISC Machine (ARM) processor to achieve the overall execution of computing processes.

High segment boosts the global market

In terms of computing capacity, the global deep learning chipset market is bifurcated into high and low. The high computing capacity segment is expected to register steady growth during the forecast period, owing to increasing data volume and enhanced algorithms.

The rising demand for sophisticated, specialized, and diversifying deep learning chipsets and the high volume of data that is required to run deep learning models are the reasons for boosting the high computing capacity segment.

BFSI holds a significant market share

Based on end-user, the global deep learning chipset market is divided into automotive, industrial, consumer electronics, healthcare, aerospace & defense, BFSI, it & telecommunications, retail, and others. The BFSI segment is estimated to expand rapidly during the forecast period, owing to the increasing automation of the BFSI sector across the globe. Changing regulations and the need to adapt to these regulations are the major factors driving the BFSI segment growth.

The healthcare segment is anticipated to register significant growth in the coming years, owing to the increasing need to diagnose medical issues quickly and accurately. Deep learning solutions help in predicting patterns, diagnosing diseases, and offering treatment plans, which spurs the healthcare segment growth.

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North America to dominate the global deep learning chipset market

In terms of regions, the global deep learning chipset market is segmented into Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The deep learning chipset market in North America is expected to register a high CAGR during the forecast period, due to growing concern regarding the security of sensitive data and critical infrastructure in the region.

Rising government support and increasing adoption of artificial intelligence chipsets for security applications across the region help boost the deep learning chipset market in North America. High presence of several deep learning chip manufacturers in countries such as Canada and the US fuels the deep learning chipset market growth.

The deep learning chipset market in Europe is anticipated to expand in the coming years, owing to the growing adoption of AI-based healthcare equipment in the region. AI-based chipsets are becoming increasingly popular in the automotive industry in Europe. Increasing demand for driverless cars, consumer electronics, and smart cities in Europe is projected to propel the deep learning chipset market growth in the region.

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