Artificial Intelligence Chip Market to Grow with a CAGR of 32.19% through 2029
Rise of AI in
cloud computing and advancements in deep learning technologies are likely to
drive the market in the forecast period.
According to
TechSci Research report, “Artificial Intelligence Chip Market – Global Industry
Size, Share, Trends, Competition Forecast & Opportunities, 2029F”,
the Global Artificial Intelligence Chip Market is experiencing a surge in
demand in the forecast period. One significant
driver propelling the global artificial intelligence chip market is the
escalating demand for AI-driven applications across diverse industries. As
businesses and consumers increasingly recognize the transformative potential of
artificial intelligence, there is a corresponding surge in the need for
high-performance AI chips. These chips serve as the computational backbone for
a myriad of applications, including machine learning, natural language
processing, and computer vision.
Industries
such as healthcare, finance, and autonomous vehicles are embracing AI
technologies to enhance efficiency, decision-making, and innovation. This
expanding adoption necessitates advanced AI chips capable of handling intricate
computations with speed and energy efficiency. The growing prevalence of AI in
applications ranging from personalized medicine to smart cities is a testament
to the vital role AI chips play in driving technological advancements and
shaping the future of various sectors.
The
proliferation of edge computing stands as a crucial driver influencing the
global artificial intelligence chip market. Edge computing involves processing
data closer to the source of generation, reducing latency and enhancing
real-time decision-making. As the deployment of edge computing gains momentum,
there is a parallel demand for AI chips optimized for edge devices.
AI
chips designed for edge computing enable the efficient processing of data
locally, minimizing the need for data transmission to centralized cloud
servers. This is particularly vital for applications such as Internet of Things
(IoT) devices, smart sensors, and autonomous systems where low latency is
imperative. The convergence of AI and edge computing not only boosts
performance but also contributes to the overall growth of the AI chip market,
aligning technology with the evolving requirements of decentralized and
responsive computing architectures.
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The Global Artificial
Intelligence Chip Market is segmented into chip type, processing type, technology,
application, end user, region and company.
Based on application,
The Computer Vision segment held the largest Market share in 2023. Computer
Vision involves the analysis and interpretation of visual data, such as images
and videos. The computational demands of processing vast amounts of visual
information are significant. AI chips, particularly GPUs (Graphics Processing
Units) and specialized accelerators, excel in handling the parallel processing
required for tasks like image recognition, object detection, and scene
understanding. Computer Vision
has found applications across various industries, including healthcare (medical
imaging), automotive (autonomous vehicles), retail (visual merchandising),
surveillance, and more. The broad applicability of Computer Vision has driven
the demand for AI chips that can efficiently support a diverse range of visual
data processing tasks.
The rise of
autonomous systems, such as autonomous vehicles and drones, heavily relies on
Computer Vision for navigation, obstacle detection, and decision-making. AI
chips play a crucial role in enabling real-time processing of visual data to
ensure the safe and efficient operation of these autonomous systems.
Deep learning, a
subset of machine learning, has significantly advanced the capabilities of
Computer Vision. Convolutional Neural Networks (CNNs) and other deep learning
architectures have demonstrated remarkable success in image classification and
object detection. AI chips, particularly those optimized for deep learning
workloads, are essential for training and inference in these complex models.
The industry's
increasing recognition of the potential value offered by Computer Vision has
led to substantial investments in research and development. Companies and
researchers are actively working on enhancing the performance and efficiency of
AI chips for Computer Vision applications, contributing to their dominance in
the market.
The
proliferation of edge computing, where data is processed closer to the source
(e.g., edge devices), has further propelled the demand for AI chips in Computer
Vision. Edge devices, including cameras and sensors, require efficient AI
processing capabilities for real-time decision-making, making AI chips a
critical component in edge computing ecosystems.
Major companies
operating in the Global Artificial Intelligence Chip Market are:
- NVIDIA Corporation
- Intel Corporation
- Qualcomm Technologies Inc.
- Samsung Electronics Co., Ltd.
- Huawei Technologies Co. Ltd.
- MediaTek Inc
- Micron Technology, Inc.
- NXP Semiconductors N.V.
- Advanced Micro Devices Inc
- Google LLC
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“The Global Artificial
Intelligence Chip Market is expected to rise in the upcoming years and register
a significant CAGR during the forecast period. The primary driver behind the global artificial
intelligence chip market is the burgeoning demand for heightened AI performance
in business applications. As industries increasingly integrate AI technologies
for improved decision-making and efficiency, the necessity for advanced AI
chips intensifies. These chips serve as the computational engines powering
machine learning, natural language processing, and computer vision. In meeting
the escalating demand for faster and more energy-efficient AI computations,
businesses are driving the innovation and growth of the AI chip market. The
imperative for superior AI performance underscores the pivotal role these chips
play in optimizing processes and fueling the ongoing technological evolution
across sectors. Therefore, the Market of Artificial Intelligence Chip
is expected to boost in the upcoming years”, said Mr. Karan Chechi, Research
Director of TechSci Research, a research-based management consulting firm.
“Artificial Intelligence Chip Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Chip Type (GPU, ASIC, FPGA, CPU, Others), By Processing Type (Edge, Cloud), By Technology (System On Chip, System in Package, Multi Chip Module, Others), By Application (Nature Language Processing, Robotics, Computer Vision, Network Security, Others), By End User (Media and Advertising, BFSI, IT and Telecom, Retail, Healthcare, Automotive and Transportation, Others), By Region, By Competition, 2019-2029F”,
has evaluated the future growth potential of Global Artificial Intelligence
Chip Market and provides statistics & information on Market size, structure
and future Market growth. The report intends to provide cutting-edge Market
intelligence and help decision-makers make sound investment decisions., The
report also identifies and analyzes the emerging trends along with essential
drivers, challenges, and opportunities in the Global Artificial Intelligence
Chip Market.
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