The global artificial intelligence chipset market is projected to account for USD 59.2 billion by 2025, 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.
Impact of COVID-19
The outbreak of COVID-19 has rapidly become global pandemic. The increasing number of infected cases has posed serious risk to public health. Therefore, healthcare industry is adopting technologically advanced devices to diagnose and reduce the spread of virus infections. AI enabled devices are playing important role by detecting early stage of virus infection. For instance, Intel Corporation has developed solution that helps doctors to diagnose virus infection by CT chest scan accurately to stop infected patients from spreading the infection to others and provide treatment to the ill at the same time. In addition, market players are striving to reach with such solutions to health professionals and various countries across the globe. Thus, several initiative for developing AI-based solutions by market players are expected to witness robust growth of market for AI chipset in pandemic situation.
Moreover, Due to COVID-19 outbreak, banking sector is facing some issues such as quick response to their customers. Implementation of AI catboats in customer service vertical, the customers are able to access 24/7 support for their queries. This initiative is projected to drive the demand for AI chipset in banking sector. The COVID-19 pandemic has rapidly changed consumer’s shopping habits. People are preferring to buy essentials and other products from online stores. Therefore, many businesses are adopting technologically advanced setups to offer better customer experience. For instance, Gucci created artificial store for customers along with cameras and lights. In this artificial store, AI and machine learning technologies plays an important role to enhance customer experience, thereby expected to drive the demand for AI chipset during and post pandemic situation.
Global AI Chipset Market : Key Players
Adapteva, Inc.; Qualcomm Technologies, Inc.; Graphcore; Google Inc.; Intel Corporation; Advanced Micro Devices, Inc.; Xilinx Inc. and Huawei Technologies Co., Ltd.
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