Artificial Intelligence Chips Market Report
Artificial Intelligence Chips Market, By Type (GPU, ASIC, FPGA, CPU), Technology (Machine Learning, Predictive Analysis, Natural Language Processing, Others), End-Use (Healthcare, Manufacturing, Automotive, Retail, Cybersecurity, Others), and Region - COVID-19 Impact Analysis and Forecast to 2026.
This market research report provides in-depth information on trends, dynamics, revenue opportunities, competitive landscape, and recent developments in the global Artificial Intelligence Chips market. The historic years considered for the study are 2016-2019, the base year is 2020, the estimated year is 2021, and the forecast period is 2022-2026.
Artificial Intelligence Chips Market, By Type (GPU, ASIC, FPGA, CPU), Technology (Machine Learning, Predictive Analysis, Natural Language Processing, Others), End-Use (Healthcare, Manufacturing, Automotive, Retail, Cybersecurity, Others), and Region...
Impact of COVID-19 on Artificial Intelligence Chips Market
Covid-19 has impacted the market dynamics, competition, and global supply chain. The revenues have gone down in 2020 and may resume an uptrend gradually from 2021. Companies optimizing their operation and strategy will sustain and beat the competition.
Note: The summary below might not have included insights on covid impact since we have large number of reports.
The Artificial Intelligence Chips Market is projected to grow from USD 7.6 billion in 2020 to USD 70.9 billion by 2026 at a CAGR of around 42.3% during the forecast period.
Artificial intelligence chip is known as silicon chip which integrates AI technology to minimize human errors and solve computational & mathematical problems. The artificial intelligence chips are designed to handle large and parallel systems effectively. Artificial intelligence chips address the increasing necessity for faster processing due to enabled machine learning.
Key players operating in the Artificial Intelligence Chips market are-
The growth of the artificial intelligence chips market is primarily driven by the rising adoption of advanced technologies across verticals including healthcare, automotive, retail, and cybersecurity. Increasing growth of the end-use industries primarily healthcare and automotive is likely to drive the market growth at a significant rate during the review period. In addition to this, increasing demand for advanced chips in developing countries is likely to create lucrative opportunities for the players operating in the global market in the coming years.
By application, the artificial intelligence chips market has been bifurcated into healthcare, manufacturing, automotive, retail, cybersecurity, and others. The automotive segment accounted for the largest market share in 2020 and is projected to register significant growth during the review period. The segment growth can be attributed to the rising adoption of advanced technologies in the automotive industry.
By region, the market in North America accounted for the largest market share in 2020 and is projected to grow at a significant CAGR during the assessment period. The regional growth can be attributed to the high adoption rate of advanced technologies in the end-use industries coupled with the presence of key market players such as Alphabet Inc. (US) and Broadcom Inc. (US). The market in Asia-Pacific is expected to be driven by the rising adoption of artificial intelligence in the end-use industries, particularly in China and India.
Covid-19 outbreak impacted the growth of the artificial intelligence chips market positively. The spread of coronavirus led to the enforcement of lockdown to curb the spread of the virus. This led to travel restrictions and supply chain disruptions, which in turn resulted in an increased emphasis on the adoption of advanced technologies to monitor business operations manually.
Here is the list of the group of customers that the artificial intelligence chips market hopes to have the greatest opportunity to convert-
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The artificial intelligence chips market is expected to witness an impressive growth of 42.3% CAGR in the coming years.
Alphabet Inc. (US). Broadcom Inc. (US), Intel Corporation (US), Nvidia Corporation (US), Qual-comm (US), Advanced Micro Devices, Inc. (US), Huawei Investment & Holding Co., Ltd (China), International Business Machines Corporation (US), Samsung Electronics Co., Ltd (South Korea), and Taiwan Semiconductor Manufacturing Company Limited (Taiwan) are among the key players in the artificial intelligence chips market.
The artificial intelligence chips market size is expected to reach USD 70.9 billion in the foreseeable future.
The automotive segment is expected to register significant growth in the artificial intelligence chips market in the coming years.
North America accounted for the largest share in the artificial intelligence chips market in 2020.
Artificial intelligence chips distributors, Artificial intelligence chips suppliers, Artificial intelligence chips manufacturers, Logistics organizations, Government bodies are the target audience in the artificial intelligence chips market.