Artificial Intelligence (AI) Chip Market Size to Grow USD 263.6 Billion by 2031, growing at a CAGR of 37.1% | Valuates Reports
BANGALORE, India, March 28, 2023 /PRNewswire/ -- The Global AI Chip Market is Segmented by 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 Industry Vertical (Media and Advertising, BFSI, IT and Telecom, Retail, Healthcare, Automotive and Transportation, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031.
The global artificial intelligence chip market was valued at USD 11.2 billion in 2021 and is projected to reach USD 263.6 billion by 2031, growing at a CAGR of 37.1% from 2022 to 2031.
Major Factors Driving the Growth of the AI Chip Market:
Artificial intelligence chip market expansion is impacted by ongoing technical developments as well as a rise in demand for artificial intelligence processors and brain chip solutions. The worldwide AI chip industry is expanding significantly due to the introduction of quantum computing and the spike in the use of AI chips in robotics.
Additionally, it is projected that the development of autonomous robotics will present AI Chip market expansion prospects. AI chips are undoubtedly special and designed to process and carry out incredibly complicated and dynamic activities in a manner similar to how our human brains do. Made-for-AI chips, as opposed to general-purpose processors, have AI-optimized characteristics that can significantly speed up calculations and computational activities needed by AI algorithms.
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TRENDS INFLUENCING THE GROWTH OF THE AI CHIP MARKET
Together with conventional CPUs and GPUs, small AI chips are also available for use in automation systems and devices like smartphones. These chips can more effectively and power-efficiently carry out activities like speech recognition. For training and inference of AI algorithms, AI chips are tens or even thousands of times faster and more effective than CPUs. Modern AI processors have a far lower cost of ownership than modern CPUs due to the improved efficiency of AI algorithms. AI chips are undoubtedly special and designed to process and carry out incredibly complicated and dynamic activities in a manner similar to how our human brains do. Made-for-AI chips, as opposed to general-purpose processors, have AI-optimized characteristics that can significantly speed up calculations and computational activities needed by AI algorithms. This factor is expected to drive the growth of the AI chip market.
In order to forecast unidentified adverse drug occurrences and drug-drug interactions, CHIP researchers have created cutting-edge network-based models. This predictive approach can spot potential medication safety problems years before they arise, rather than waiting for adequate post-marketing evidence to gather. This factor is expected to drive the growth of the AI chip market.
With higher-resolution cameras than those now used in automotive applications, its real-time operation and excellent performance enable it to deliver precise information up to 300 m. Its ML models are able to locate and gauge the distance between items in a video in addition to identifying them in the frame. Using AI models for transportation analytics helps to reduce the effects of driving dangers in congested metropolitan locations while also keeping track of safety rule compliance and vehicle maintenance reports. This is significantly more than simply reducing the number of human errors in the artificial intelligence chip market.
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AI CHIP MARKET SHARE
Between 2022 and 2031, Asia-Pacific has the greatest CAGR of 40.9%. China dominates the artificial intelligence chip market in the Asia-Pacific region thanks to the presence of significant manufacturers and the country's access to cutting-edge manufacturing infrastructure. A significant increase in investment by major companies and government organizations in semiconductor research and chip startup development, to support smart infrastructure across industrial and manufacturing sectors, is also expected to make Australia a significant market for the artificial intelligence chip industry.
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Key Companies:
- Advanced Micro Devices
- Alphabet Inc. (Google Inc.)
- Apple
- NXP Semiconductors N.V
- Analog Devices, Inc
- Intel Corporation
- Mediatek, Inc
- NVIDIA Corporation
- Qualcomm Incorporated
- Microsemi Corporation.
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