ID: MRFR/SEM/3552-CR | 247 Pages | Author: Shubham Munde | December 2019
Artificial Intelligence (AI) Chipset Market is predicted to touch USD 38.46 Billion at a whopping 39.18% CAGR between 2020- 2027.
AI which is artificial intelligence is essential in many regions. Many industries are rapidly adapting to AI. The benefits of it are plenty in many markets. There is better consumer service due to the applications of AI. Deep learning is possible through this technology. The decision-making and other organizational tasks are better with AI.
The use of AI is growing in many countries. The customer services industry is witnessing many benefits. Artificial intelligence is having more needs in the consumer electronics industry. Its application of it is growing in the automotive market too. The data volume is rising in companies. There is a need to store and manage these data efficiently. The requirement of rising data volume will contribute to the Artificial Intelligence Chipset Market demand.
Further, the higher penetration of cloud computing is a major driver for the Artificial Intelligence Chipset Market. These chipsets come with high processing capabilities. There are connected devices such as warbles, laptops, and smartphones that are AI-enabled. It is a technology that can enhance the operation of any device. They come with AR and VR features that make data processing effortless. Also, the use of AI chipsets is suitable in consumer electronics, defense, robotics, and the IoT market.
The outbreak of covid 19 has a negative impact on Artificial Intelligence Chipset Market. The supply chain and production of the market are declining. The semiconductors market is facing numerous losses. The workforce in the AI chipset market is facing constraints. Due to the virus spread, workers have restrictions. Few labours can work at a time. In some regions, the supply of the chipset is fully stopped.
The demand from the user end is also reducing in this period. The product-dependent companies are also facing losses. In the next few years, the demand for the AI chipset market is expected to rise. Semiconductor companies will witness a growth in the demand rate. Also, the supply of the chipset will be smooth in the upcoming years. All these factors will contribute to positive growth in the forecast period.
The rising adoption of deep learning is a crucial driver of the artificial intelligence market. Today, many networks have an interest in deep learning. Since 2016, there is a trend for AI chipsets. Google and other tech giants are using these chipsets for their applications. Deep learning offer insights. Automated responses for a large amount of data are a benefit of deep learning. The need for advanced automation in companies is leading to higher adoption of the AI chipset.
The data sets and algorithms of the AI mimic the functions of the human brain. Further, artificial networks are replacing traditional networks. Today, deep learning has higher adoption in other industries. There are defense, service and transportation industries that have higher use of artificial intelligence. Further, image processing and medical devices are some of the other uses of the chipsets.
The growing adoption of deep learning and AI in the electronics market are other crucial drivers. Consumer electronics such as desktops, gaming, laptops and consoles are other devices requiring the AI chipset. Computing technologies need to tackle with high amount of data. For these purposes, the rising use of AI will contribute to AI Chipset Market Growth. All these factors will contribute to the high revenue rates of the Artificial Intelligence Chipset Market.
Human ware AI is gaining more significance in the forecast period. The emergence of AI technologies is positively affecting growth. Today, creating an interactive machine is a tough task for many developers. Human interference with AI opens new research. The development of human ware AI offers more growth opportunities for the Artificial Intelligence Chipset Market.
Furthermore, the expansion of the cybersecurity industry will create more growth opportunities in the market. The rate of cyber-attacks is rising. Due to the high use of mobile phones and electronic devices, it is easy for attackers. These vulnerable risks can put more at stake. With the AI chipset, there is an eco-friendly approach to these cyber attacks. The demand from these industries will grow in the upcoming years. It is expected to contribute to more demand for the market in the upcoming years. The expansion of AI technologies is another factor contributing to the growth of the artificial intelligence chipset market.
Today, governments are encouraging AI technologies. They are beneficial for a variety of purposes. Due to these causes, the demand for the chipset AI is surging. The market expansion in various regions is also high. All these factors will provide promising profits for the artificial intelligence chipset market.
AI is a complex program. Managing, developing and using AI systems are not that easy. To use these technologies technical skill is essential for the users. The need for cognitive thinking, deep learning, and Ml are technical skills to develop. The users without technical skills cannot operate it. Even a minor error in this application can cause many changes in the results. The lack of skilled professionals is a restraining factor of the market. Due to professional standards, the demand for AI chipsets is curbing. These challenges in the AI chipset market can affect the demand and supply of the product.
The limited structured data is a challenge for the Artificial Intelligence Chipset Market. Data is crucial for the functioning of AI systems. There are plenty of devices today that use AI. Wearable, thermostats, Ip cameras, industrial equipment, and smart devices are a few of the connected devices. Most of these devices have instructed data.
The lack of structured data can make the task of AI more complex. Semi-structured data are tough to process. Especially, these large scale data can consume more time and energy. The lack of structured data in connected devices is a challenging factor in the AI chipset market.
The AI Chipset Market Size is growing in the forecast period. There are plenty of factors that contribute to the growth of this market. The rising adoption of deep learning is a crucial driver of the market. Growing demand from various industries is another crucial driver. Especially, the electronic market has a higher use of the AI chipset. Further, the growth opportunities are higher due to hum-aware AI. The expansion of AI technologies is another factor that leads to growth. The restraints of the market are the complexity of AI programs. The lack of staff possessing this knowledge is less. All these factors determine the growth of the artificial intelligence chipset market in the forecast period.
Asia Pacific is the dominant region with AI Chipset Market Share. There are plenty of merging countries in this market. India, Japan, and Korea are key developers of AI technologies. Since 2018 this region is taking initiatives to deploy AI technologies. China is an important region as it has a higher investment.
The consumer electronics market has a higher demand for AI. The Asia Pacific is the top manufacturer of consumer electronics. Smartphones, tablets, and laptops are produced more. This major player in the artificial intelligence chipset market will have high revenue in the forecast period.
The competition in the AI chipset market is rising. Few key players have higher contributions. There are plenty of initiatives by the key players to develop and expand the market.
The key regional players are Asia Pacific, North America, Europe and Middle East Africa. The Asia Pacific is the largest key player in the market. There are plenty of factors that drive the demand. The rising consumer electronics market is a crucial driver. There is a high investment for the market in the forecast period.
India, China and Japan are prominent countries in this region. Further, North America is the next largest key player with many shares. It is an early adopter of the AI chipset. Various tech giants and software firms have higher adoption. Europe is the next largest market with the highest scope. The Middle East is an emerging market with a high expansion rate.
|Market Size 2027||USD 38.46 Billion|
|Compound Annual Growth Rate (CAGR)||39.18% (2020-2027)|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Component, Technology, Application, Vertical|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Countries Covered||The U.S, Canada, Mexico, Germany, France, UK, China, Japan, India, Australia, South Korea, UAE, and Brazil|
|Key Companies Profiled||IBM Corporation (US), Micro Technology (US), Samsung Electronics Co. Ltd (South Korea), Advanced Micro Devices (US), Huawei Technologies Co. Ltd (China), Intel Corporation (US), Qualcomm Technologies Inc. (US), NVIDIA Corporation (US)|
|Key Market Opportunities||The use of AI-based services and products to improve consumer experience.|
|Key Market Dynamics||Increasing demand for smart cities and smart homes. Increasing use of AI chipset in different end-user industries.|
Artificial Intelligence (AI) Chipset Market is set to grow at a CAGR of 39.18% to hit USD 38.46 Billion by 2027
Qualcomm Technologies Inc. (US), NVIDIA Corporation (US), Intel Corporation (US), Advanced Micro Devices (US), Huawei Technologies Co. Ltd (China), Samsung Electronics Co., Ltd (South Korea), IBM Corporation (US), and Micro Technology (US), are some of the top players operating in the global artificial intelligence (AI) chipset market.
Increasing number of AI-enabled applications and products & services to improve consumer experience and the rising penetration of big data analytics are major tailwinds pushing the growth of the global artificial intelligence (AI) chipset market.
North America is expected to hold the highest market share in the global artificial intelligence (AI) chipset market.
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