Artificial Intelligence Chipset Market Trends and Industry Forecast | Industry Players are NVIDIA Corporation (US), Qualcomm Technologies Inc. (US), Intel Corporation (US) and Huawei Technologies Co. Ltd (China)

Market Highlights

The global artificial intelligence (AI) chipset market is set to exhibit a compound annual growth rate of 31.03% during the forecast period (2018-2023) projects Market Research Future (MRFR) in its latest report. Artificial intelligence (AI) chipsets supports an array of AI technologies include machine learning, deep learning, natural language processing, and neural network processing.

AI is making its way into key verticals such as healthcare, consumer electronic, and manufacturing. AI applications require compatible hardware and software components with high computational power and low energy consumption. AI chipsets such as GPUs, FPGAs, and ASICs provide high levels of computing power to enable the operation of applications on various devices. The rising popularity of AI application is fueling the demand for AI chipsets. There is a high application potential of AI in the future, which indicates towards a strong market prospect for AI chipsets.

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Segmentation:

MRFR reports includes a detailed segmental analysis of the market based on component, technology, application, vertical and region.

By component, the market has been segmented into hardware and software. The hardware segment is further sub-segmented into processors, CPU, GPU, ASIC, FPGA, memory and network. The hardware segment is expected to remain highly attractive during the assessment period. In addition, the segment currently accounts for more than 80% market share in terms of value. In 2017, the segment stood at a market valuation of USD 2.97 Billion and is expected to witness a CAGR of 31.45% during the review period.

By technology, the market has been segmented into machine learning, natural language processing (NLP), and others (deep learning and computer vision). In terms of value, the machine learning segment accounted for 59.48% in 2017 and is project to capture a CAGR of 30.95% during the assessment period. Machine learning is one of the core technology of AI chipset.

By application, the market has been segmented into smartphones, smart wearable, robotics, automobile, security systems, and medical imaging. In 2017, the smartphones segment accounted for 26.92% market share in terms of value. The segment holds the leading position and is expected to witness a robust CAGR of 29.33% till 2023. The automobile segment is projected to exhibit a relatively higher CAGR.

By vertical, the market has been segmented into consumer electronics, automotive, retail, IT & Telecommunication, media & telecommunication, medical & entertainment, healthcare, and BFSI. The consumer electronics segment is expected to remain highly attractive during the foreseeable future. The segment was valued at USD 901.80 Million in 2017 and is likely to post a CAGR 28.36% from 2018 to 2023.

Regional Analysis:

Regions that are considered in MRFR's study are Asia Pacific (APAC), Europe, North America, the Middle East & Africa (MEA) and Latin America. North America is the largest market for artificial intelligence (AI) chipset. In 2017, North America accounted for close to 40% share of the market. During the forecast period, the North America AI chipset market is expected to exhibit a CAGR 31.56%. This is mainly owing to the presence of suitable infrastructure for the research and development of AI centric technologies - quantum computing, robotics, automation and 5G network. Meanwhile, APAC is set to witness a relatively higher CAGR during the review period. The market in the region is valued at USD 1.18 billion in 2017. China's dominant position in the global consumer electronics manufacturing is one of the key factors supporting the growth of the market in APAC.

Major Key players

Some of the leading market players profiled in MRFR's report include NVIDIA Corporation, Xilinx Inc, Intel Corporation, IBM Corporation, Samsung Electronics Co Ltd., Micron Technology Inc., Qualcomm Technologies Inc., Advanced Micro Devices Inc., Fujitsu Limited, Huawei Technologies Co. Ltd.

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This release was published on openPR.