Market Highlights
Artificial intelligence (AI) chipset are silicon-based chips that are integrated with devices to support AI technologies. Increasing utilization of AI technologies is projected to boost the demand for these chipsets over the next couple of years. This report presented by Market Research Future (MRFR) suggests that the global artificial intelligence (AI) chipset market is supposed to strike 31.03% CAGR across the evaluation period 2018 to 2023. The valuation of the market is projected to reach USD 16.65 Bn by 2023.
AI is making its way into key verticals such as healthcare, consumer electronic, and manufacturing. AI applications require compatible hardware and software components with high computational power and low energy consumption. AI chipsets such as GPUs, FPGAs, and ASICs provide high levels of computing power to enable the operation of applications on various devices. The rising popularity of AI application is fueling the demand for AI chipsets. There is a high application potential of AI in the future, which indicates towards a strong market prospect for AI chipsets.
Segmentation:
On the basis of Component, the artificial intelligence (AI) chipset market has been segmented into hardware (processors, GPU, ASIC, FPGA, CPU, memory, and network) and software.
Based on technology, the artificial intelligence (AI) chipset market has been segmented into machine learning, natural language processing, and others (deep learning and computer vision).
By Application, the artificial intelligence (AI) chipset market has been segmented into smartphones, robotics, automobile, smart wearable, security systems, and medical imaging.
On the basis of vertical, the artificial intelligence (AI) chipset market has been segmented into consumer electronics, retail, IT & telecommunication, automotive, media & telecommunication, healthcare, medical & entertainment, and BFSI.
Regional Analysis:
Regions that are considered in MRFR’s study are Asia Pacific (APAC), Europe, North America, the Middle East & Africa (MEA) and Latin America. North America is the largest market for artificial intelligence (AI) chipset. In 2017, North America accounted for close to 40% share of the market. During the forecast period, the North America AI chipset market is expected to exhibit a CAGR 31.56%. This is mainly owing to the presence of suitable infrastructure for the research and development of AI centric technologies – quantum computing, robotics, automation and 5G network. Meanwhile, APAC is set to witness a relatively higher CAGR during the review period. The market in the region is valued at USD 1.18 billion in 2017. China’s dominant position in the global consumer electronics manufacturing is one of the key factors supporting the growth of the market in APAC.
Competitive Dashboard:
NVIDIA, Intel Corporation, Xilinx, IBM Corporation, Micron Technology, Samsung Electronics, Qualcomm Technologies, Fujitsu Ltd, Advanced Micro Devices, and Huawei Technologies Co Ltd are few of the prominent players of the artificial intelligence (AI) chipset market. These players are expected to leverage advanced technologies for the development of efficient product portfolios. This, in turn, is projected to fuel competition in the artificial intelligence (AI) chipset market over the next couple of years. Few of the growth methods anticipated in the competitive landscape in the upcoming years are – agreements, partnerships, strategic alliances, mergers & acquisitions, collaborations, etc.
Industry News:
In November 2019, Nvidia Corp., an American technology company, has announced the launch of the world’s smallest and the most powerful AI supercomputer, Jetson Xavier NX.
In August 2019, Huawei Technologies Co., Ltd., a Chinese multinational technology company, has announced the launch of dubbed MindSpore, an all-scenario AI computing framework, and the Ascend 910, an artificial intelligence (AI) processor. The company is aiming to ship over 2 million AI chips.
