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Artificial Intelligence Chipset Market Size to Reach US$ 717.4 Billion by End of 2031, Transparency Market Research, Inc.

Wilmington, DE / ACCESSWIRE / February 1, 2023 / United States Transparency Market Research Inc. - The global artificial intelligence chipset market is projected to expand at a CAGR of 31.8% during the forecast period 2022-2031, according to a research report by TMR.

Transparency Market Research inc., Wednesday, February 1, 2023, Press release picture

In recent years, artificial intelligence has emerged as the most widely used technology and is considered to be promising for next-generation smart gadgets. It is increasingly utilized in numerous applications. Artificial intelligence chipsets are being widely used in several end-use industries such as education, banking, healthcare, and transportation owing to the high speed provided by them. Furthermore, they offer AI-enabled applications, which have made them popular among consumers.

Burgeoning need for computer vision and machine learning devices has led to extensive R&D for the development of high-speed CPUs. Additionally, artificial intelligence chip industry growth has been influenced by the rise in number of smartphone and smart device users. Companies in these industries are presently investing heavily in AI-powered chipsets, which are designed to improve the efficiency of their operations and provide them with a competitive edge.

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Artificial Intelligence Chipset Market: Growth Drivers

  • The artificial intelligence chipset market growth rate is expected to continue in the next few years as more industries adopt AI technology and invest in AI-powered chipsets. Major factors contributing to the market size include the increase in demand for AI-driven solutions. Consequently, the expansion of the healthcare sector, the rise in demand for data centers, and rapid growth of the financial services sector have opened new growth avenues for the artificial intelligence chipset business growth. Furthermore, emergence of new technologies such as deep learning and the increasing popularity of internet-connected devices has also contributed to artificial intelligence chipset market development.
  • Another key trend is the emergence of advanced technologies such as 5G and edge computing, which enable faster and more reliable connections for AI-driven applications. Additionally, the increased adoption of cloud computing is also providing businesses with access to powerful computing resources and the ability to store large amounts of data.

Key Findings of Artificial Intelligence Chipset Market

  • The COVID-19 pandemic has led to increased e-commerce purchases. Rise in demand for home electronics has also increased the demand for intelligent chipset-based gadgets. The pandemic has also seen an increase in creative educational technology. Several ed-tech companies are utilizing artificial intelligence-based technologies, which have opened new growth avenues for the global market. The reliance on intelligent technology is estimated to increase with the application of AI-based technologies.
  • Edge AI chips provide privacy and security and enable processor AI computation, which helps in transferring huge amounts of data to remote places

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Artificial Intelligence Chipset Market: Regional Dynamics

North America is anticipated to witness lucrative growth due to the escalating adoption of electronic design automation, which has propelled the market. Rise in disposable income of people in this region, coupled with ongoing infrastructure investments, has led to market expansion. Subsequently, increasing focus by governments on developing in-house AI applications has created multiple business opportunities for the market. Governments have implemented this strategy to improve access to high-quality data and cyber infrastructure.

Artificial Intelligence Chipset Market: Competitive Landscape

Key players operating in the global market are concentrating on product development and indulging in novel product launches, which are likely to create immense growth opportunities for the global market. Strategic collaborations with IoT chip companies are estimated to boost the growth of the artificial intelligence chipset industry.

Leading companies operating in the market are:

  • Qualcomm Technologies, Inc.
  • Intel Corporation
  • Advanced Micro Devices, Inc.
  • Apple Inc.
  • Huawei Technologies Co., Ltd.

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Artificial Intelligence Chipset Market: Segmentation

By Chipset Type

  • GPU
  • FPGA
  • ASIC
  • CPU
  • Others

By Deployment

  • Cloud-based AI Chips
  • Edge-based AI Chips

By Application

  • Natural Language Processing (NLP)
  • Computer Vision
  • Robotics
  • Network Security

End-use Industry

  • Healthcare
  • Industrial
  • Automotive
  • IT & Telecommunication
  • Consumer Electronics
  • BFSI
  • Others

By Regions

  • North America
  • Europe
  • Asia Pacific
  • South America
  • Middle East & Africa

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About Transparency Market Research

Transparency Market Research registered at Wilmington, Delaware, United States, is a global market research company providing custom research and consulting services. TMR provides in-depth insights into factors governing demand in the market. It divulges opportunities across various segments based on Source, Application, Sales Channel, and End-Use that will favor growth in the market over the next 9 years.

Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.

Contact Us:

Nikhil Sawlani
Transparency Market Research Inc.
CORPORATE HEADQUARTER DOWNTOWN,
1000 N. West Street,
Suite 1200, Wilmington, Delaware 19801 USA
Tel: 1-518-618-1030
USA - Canada Toll Free: 866-552-3453
Website: https://www.transparencymarketresearch.com
Blog: https://tmrblog.com
Email: sales@transparencymarketresearch.com

SOURCE: Transparency Market Research Inc.



View source version on accesswire.com:
https://www.accesswire.com/737648/Artificial-Intelligence-Chipset-Market-Size-to-Reach-US-7174-Billion-by-End-of-2031-Transparency-Market-Research-Inc

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