AI Chip Market is anticipated to grow at a CAGR of 44.9% from 2020 to 2030.

Market Industry Reports (MIR) has published a new report titled “AI Chip Market- Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020–2030.” According to the report, the Global AI Chip Market accounted for over ~US$ 9.7 billion in 2019. It is anticipated to grow at a CAGR of 44.9% from 2020 to 2030.

Artificial intelligence (AI) chips refer to a new generation of microprocessors that are specifically designed to process artificial intelligence tasks more quickly, using less power. These chips process a large amount of data, detect underlying dynamics, analyze trends, and utilize the content to accomplish particular objectives. AI chips might play a critical role in economic growth as they will be featured in autonomous cars, smart homes, and electronic devices, among others.

Factors such as developing economies, rising interest in smart city projects & autonomous cars, the development of smarter robots, and rising investments in AI startups are boosting the demand for the AI chips market. Various core players have been innovative in building a dedicated platform; for instance, Mythic 's software has the advantage of handling digital/analog memory measurements, resulting in improved performance, precision, and power life. Moreover, increased government spending on cybersecurity solutions combined with real-time analytics & AI is likely to boost the growth of the artificial intelligence chip market.

However, the dearth of skilled workforce is likely to hamper the growth of the AI chip market. AI service providers face challenges when it comes to deploying/servicing their solutions at their client sites. It is due to the lack of awareness regarding technology and the limitation of AI experts.

North America is estimated to account for the largest market share in the AI chip market owing to factors such as demand for smart homes, rising investments in AI startups, and the emergence of quantum computing. Asia Pacific is estimated to account for the highest CAGR in the AI chip market during the forecast period owing to factors such as rising economies, increasing smart city projects, and technological advancements shifting the market towards smart devices. More start-ups are developing artificial intelligence chips. China is one of the most active countries in AI chip start-ups. Cambricon Technologies is one of the most valuable AI chip start-ups in China with a worth of US$ 2.5 billion.

Browse key industry insights spread across 180 pages with market data tables & figures & charts from the report, AI Chip Market By Chip Type (Graphical Processing Units (GPUs), Application Specific Integrated Circuit (ASIC), Field Programmable Gate Arrays (FPGAs), and Central Processing Unit (CPU)), By Technology (System-on-Chip (SoC), System-in-Package (SIP), and Multi-chip Module), By Application (Machine Learning, Natural Language Processing (NLP), Network Security, and Computer Vision), By Industry Vertical (Automotive & Transportation, Healthcare & Medical Devices, Banking, Financial Services and Insurance (BFSI), IT & Telecom, Media & Advertising, Semiconductor & Electronics, Aerospace & Defense, and Retail) – Global Analysis & Forecast 2020-2030 in detail along with the table of contents:

Some of the prominent players in the AI chip market include Advanced Micro Devices, Inc, Intel Corporation, NVIDIA Corporation, Xilinx, IBM, Qualcomm Technologies, Inc., Alphabet Inc., Huawei Technologies Co., Ltd., SAMSUNG, and others.

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