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Research Report on Global AI Chipsets Market 2018 to 2023

Sep 27 2018

The "Global AI Chipsets Market - Segmented by Technology, Hardware, End-user Industry, and Region - Growth, Trends, and Forecast (2018 - 2023)" report has been added to ResearchAndMarkets.com's offering.

The artificial intelligence (AI) chipsets market is expected to reach USD 43.3 billion in 2023 from USD 6.8 billion in 2017, witnessing a CAGR of 33.9% during the forecast period 2018 - 2023.

Artificial intelligence (AI) is making its way into almost every area of consumer electronics. It is expanding its applications from smartphones to the automobile industry. This expansion is leading to numerous opportunities to semiconductor industries. The need for processing rapidly growing volume of data is the key factor impacting the growth of the AI chipset market. The increasing social media and E-commerce penetration are resulting in an increase of the volume of data.

For, instance E-commerce users in India generate over 30-40 TB (Terabytes) of data daily, which is the equivalent of content in 50 lakh Yellow Pages books. The need to process such huge data at a faster rate is driving the market. The increasing growth of machine learning in various sectors, such as automotive, finance, and retail is boosting the adoption of AI chipsets. The most popular application of AI chipsets in machine learning, which involves the manufacture of the driverless car is gaining momentum. The increasing focus on developing human-aware AI systems is increasing the growth of the market.

Growing demand for high-speed computing processors and increasing demand for improving consumer services and reducing operational costs is driving the growth of the AI chipsets market, while lack of skilled workforce and absence of standards and protocols is restraining the growth of the market.

Growing demand for high-speed computing processors is driving the Artificial intelligence Chipsets Market

The large availability of data has increased the standards of computing. The incapability of traditional computing methods to process big data has driven to the need for high-performance computing. A high-speed computing processor enables machine learning, which consists of deep learning, reinforcement learning supervised, and unsupervised learning. These machine learning devices are equipped with AI processing chipsets.

The increasing interests of people toward machine learning and computer vision are driving companies to invest in the development of high-speed computing processors, as well as in high-performance computing. Companies, like Tesla, Apple, Google, and IBM are investing in increasing the innovations involving AI chipsets.

Asia-Pacific to have the Major Growth over the Forecast Period

Asia-Pacific has held the highest growth in AI chipsets market and is expected to have a significant growth over the forecast period. The adoption of AI across various end-user industries, such as consumer electronics, healthcare, automotive, robotics, and agriculture industries increased the growth of the market in the region. The application of AI chipset in consumer electronics, such as smartphones, tablets, laptops involves the integration of voice commands, enhancement of photography experience, gathering and sorting relevant data based on past searches, etc., which has resulted in the high adoption of AI chipsets.

The region has the major presence of smartphone manufacturers and semiconductor industries in the world. Countries, like China, Japan, Taiwan, and South Korea have nearly 80% of the global smartphone manufacturers. The highest population has resulted in an increase in usage of smartphones, which is expected to result in the growth of the market.

Key Developments in the Artificial intelligence Chipsets Market

Google launched the third version of its A.I. chips. The new Tensor Processing Units (TPUs) would help Google improve applications that use AI to do things, like voice recognition, spot objects in photos and videos, and pick up underlying emotions in written text
IBM and Nvidia collaborate to produce new AI chips. IBM's new Power9 series of chips are intended to help processors work closely with graphics processing chips from Nvidia

Artificial intelligence Chipsets Market Major Players: