Artificial Intelligence Chip Market by Technology, By Hardware, By Industry and By Region – Global Opportunities & Forecast, 2020-2027
Artificial Intelligence Chip Market by Technology (Machine Learning, Natural Language Processing, Context-Aware Computing, Computer Vision), By Hardware (Processor, Memory, Network), By Industry (Healthcare, Manufacturing, Automotive, Agriculture, Retail, Security, Human Resources, Marketing, Law, Fintech) and By Region – Global Opportunities & Forecast, 2020-2027
AI Chip Market is expected to reach USD 80.7 Billion by 2027 exhibiting a CAGR of 39.9% over the forecast period, due to the accelerating penetration of e-commerce industry and social media.
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Key Drivers
The increasing number of AI applications to enhance computing power and reduce hardware cost, growing number of large and complex datasets, and accelerating adoption of AI for improving consumer services are some of the key factors propelling the growth of the global artificial intelligence chip market. In the era of digital transformation, artificial intelligence is being widely used to enhance customer service. It has become necessary for every company to provide effective and reliable customer experience to retain their existing customers and sustain in the competitive business landscape. In line, the increasing inclination toward the Internet of Things (IoT) devices, growing demand for smart homes and smart cities, increasing in AI start-ups, and the emergence of autonomous robotics are some of the other factors providing a boost to the market growth. The implementation of AI helps to overcome and support human shortcomings and provides a high level of reliability. Technology like AI chatbot consist of cognitive abilities and are built to learn from their interaction with humans. These chatbots are capable of handling queries from a large number of customers at any point of time without the need for a real human employee. Deploying AI technology in the business process helps in enhancing workflow efficiency, reduces the need to outsource work, minimizes the need for hardware deployment, and helps in reducing human resources. Therefore, the rapid adoption of AI technology for customer service and reduction in operational cost is drastically surging the demand of the market at the global level.
Growing emphasis of leading players in the information technology (IT) industry towards the development of efficient processors, increasing application of machine learning algorithms, and the advent of quantum computing, are some of the major factors fueling the market
The major components of AI include natural language processing, machine vision, and machine learning. These components provide machine to human combination, enhances efficiency, and reduces cost. Furthermore, AI is used by businesses for brand management, human resource management, software testing and development, customer service, and fraud detection. An AI-based system also helps in preventing cyber-attacks by identifying abnormal requests or behavior from the user. Thus, the increasing number of AI applications across multiple businesses is promoting the adoption of AI chips. However, the lack of skilled AI professionals and the absence of protocols and standards are some factors that will have a negative impact on the growing demand of the market over the forecast period.
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Technology Segment Analysis
Based on technology, the market is segmented into machine learning, natural language processing (NLP), context-aware computing, and computer vision. Among these, the NLP segment would observe a higher CAGR during the forecast period. This is attributed to multiple features of the technology, including conversion of a large amount of unstructured data to the structured form, and voice assistance technology, which helps in enhancing customer experience.
Hardware Segment Analysis
On the basis of hardware, the market is segmented into processor, memory, and network. Among these, the processor segment is expected to witness a higher CAGR during the forecast period. Processor segment consists of field-programmable gate arrays (FPGAs), microprocessor units (CPUs), graphics processing units (GPUs), and application specific integrated circuits (ASICs). Among these GPUs are considered as a core component of AI, as it is integrated with neural network hardware and is used for inference and training in devices. The growing usage of processors in self-driving cars and other technologies will further fuel the growth of the segment.
Industry Segment Analysis
Based on industry, the market is segmented into healthcare, manufacturing, automotive, agriculture, retail, security, human resources, marketing, law, and fintech. Among these, the automotive industry is estimated to lead the market during the forecast period. AI-powered chips enable cars to think, see, learn, and navigate. It also helps in providing autonomous, human level of performance and perception, which leads to safer and smarter driving experience. Thus, all these factors are catalyzing the growth of AI chips in the automotive industry. Increasing adoption of AI chipsets in the autonomous vehicles for inference purposes, will expand the market growth. Growing demand for artificial intelligence chipsets in robotics, and smartphones, because of the rising penetration of applications, including cloud computing and the Internet of Things (IoT) has paved the way for market.
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Regional Analysis
Based on region, North America is anticipated to lead the market during the forecast period. This is attributed to the presence of a large number of key players of the market, which include NVIDIA Corporation, Intel Corporation, Google LLC, especially across the Canada and the U.S. and their increasing emphasis to launch advanced AI chipsets in order to expand the product portfolio. For instance, in May 2020, NVIDIA Corporation introduced its next-generation Ampere GPU architecture – “NVIDIA A100”, the first GPU based on the NVIDIA Ampere architecture designed for cloud graphics, data analytics, and scientific computing.
Moreover, governments in this region are heavily investing in AI technology, which will further fuel the demand of the market in the region. For example, according to the National AI R&D Strategic Plan, the Federal government increased the investments in fundamental AI Research and Development to improve the access to high-quality data and cyberinfrastructure. Growing adoption of AI technology in various industries, which include automotive, manufacturing, healthcare, retail, and advertising, will boost the regional growth.
The key players in the region include Intel Corporation, NVIDIA Corporation, IBM Corporation, Samsung Electronic Co. Ltd, Microsoft Corporation, Micron Technology Inc, Qualcomm Technologies Inc, Google LLC, Xilinx Inc, and Amazon Web Services (AWS).
Key Developments:
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- In 2020: Kneron introduced Kneron KL 720 SoC, an advanced chipset based AI which provides 1.5 TOPS in performance from its SoC, enabled with Arm Cortex M4 as its main control unit.
- In 2019, NVIDIA Corporation partnered with VMware and Amazon to accelerate AI tasks. With this partnership, NVIDIA Corporation released GPU technology for VMware cloud on AWS. This also helped joint customers of NVIDIA Corporation and VMware to streamline their workflow.
- In 2019, Intel Corporation acquired Habana labs for $2 billion. With this acquisition, Intel Corporation advanced its AI strategy by providing customers with solutions that fit their need.
The global artificial intelligence chip market has been segmented on the basis of technology, hardware, industry, and region. Based on technology, the market is segmented into machine learning, natural language processing, context-aware computing, and computer vision. Based on hardware, the market is segmented into processor, memory, and network. Based on Industry, the market is segmented into healthcare, manufacturing, automotive, agriculture, retail, security, human resources, marketing, law, and fintech.
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Key questions answered in this research report:
-
- At what pace is global artificial intelligence chip market growing? What will be the growth trend in the future?
- What are the key drivers and restraints in artificial intelligence chip market? What will be the impact of drivers and restraints in the future?
- What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global artificial intelligence chip market?
- Which technology generated maximum revenues in 2019 and identify the most promising products during the forecast period?
- What are the various key industries of global artificial intelligence chip market and how they are poised to grow?
- What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?
Report Coverage |
Details |
Market Revenues (2027) |
USD 80.7 Billion |
Market Base Year |
2019 |
Market Forecast Period |
2020-2027 |
Base Year & Forecast Units |
Revenues (USD Million) |
Market Segment | By Technology, By Hardware, By Industry, By Region |
Regional Coverage | Asia Pacific, Europe, North America, and RoW |
Companies Profiled | Intel Corporation, NVIDIA Corporation, IBM Corporation, Samsung Electronics Co. Ltd, Microsoft Corporation, Micron Technology Inc, Qualcomm Technologies Inc, Google LLC, Xilinx Inc, Amazon Web Services (AWS). among others, a total of 10 companies covered. |
25% Free Customization Available | We will customize this report up to 25% as a free customization to address our client’s specific requirements |
Market Segmentation
Global Artificial Intelligence Chip Market by Technology
-
- Machine Learning
- Natural Language Processing
- Context–Aware Computing
- Computer Vision
Global Artificial Intelligence Chip Market by Hardware
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- Processor
- Memory
- Network
Global Artificial Intelligence Chip Market by Industry
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- Healthcare
- Manufacturing
- Automotive
- Agriculture
- Retail
- Security
- Human Resources
- Marketing
- Law
- Fintech
Global Artificial Intelligence Chip Market by Region
-
- North America Artificial Intelligence Chip Market (Option 1: As a part of the free 25% customization)
- North America Market by Technology
- North America Market by Hardware
- North America Market by Industry
- US Market All-Up
- Canada Market All-Up
- Europe Artificial Intelligence Chip Market (Option 2: As a part of the free 25% customization)
- Europe Market by Technology
- Europe Market by Hardware
- Europe Market by Industry
- UK Market All-Up
- Germany Market All-Up
- France Market All-Up
- Spain Market All-Up
- Rest of Europe Market All-Up
- Asia-Pacific Artificial Intelligence Chip Market (Option 3: As a part of the free 25% customization)
- Asia-Pacific Market by Technology
- Asia-Pacific Market by Hardware
- Asia-Pacific Market by Industry
- China Market All-Up
- India Market All-Up
- Japan Market All-Up
- Rest of APAC Market All-Up
- RoW Artificial Intelligence Chip Market (Option 4: As a part of the free 25% customization)
- RoW Market by Technology
- RoW Market by Hardware
- RoW Market by Industry
- Brazil Market All-Up
- South Africa Market All-Up
- Saudi Arabia Market All-Up
- UAE Market All-Up
- Rest of world (remaining countries of the LAMEA region) Market All-Up
- North America Artificial Intelligence Chip Market (Option 1: As a part of the free 25% customization)
Global Artificial Intelligence Chip Leading Market Players (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)
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- Intel Corporation
- NVIDIA Corporation
- IBM Corporation
- Samsung Electronics Co. Ltd
- Microsoft Corporation
- Micron Technology Inc
- Qualcomm Technologies Inc
- Google LLC
- Xilinx Inc
- Amazon Web Services (AWS)
Frequently Asked Question About This Report
AI Chip Market [UP985A-00-0620]
The Artificial Intelligence Chip Market is accounted to grow at a robust CAGR of 39.9% and projected to reach 80.7 Billion in 2027.
The end-users in Artificial Intelligence Chip Market are Healthcare, BFSI, Retail, Manufacturing, Automotive & Transportation, Agriculture, Media & Entertainment, and Others.
The top players in the region include Intel Corporation, NVIDIA Corporation, IBM Corporation, Samsung Electronics Co. Ltd, Microsoft Corporation, Micron Technology Inc, Qualcomm Technologies Inc, Google LLC, Xilinx Inc, and Amazon Web Services (AWS).
The NLP segment would observe a higher CAGR during the forecast period. This is attributed to multiple features of the technology, including conversion of a large amount of unstructured data to the structured form, and voice assistance technology, which helps in enhancing customer experience.
- Published Date: Aug-2020
- Report Format: Excel/PPT
- Report Code: UP985A-00-0620
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Artificial Intelligence Chip Market by Technology, By Hardware, By Industry and By Region – Global Opportunities & Forecast, 2020-2027
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