Rise in demand for smart homes & smart cities, increase in investments in AI startups, and emergence of quantum computing are the factors for the growth of the global AI chip market. Based on applications, the natural language processing segment dominated the market in 2018. Based on geography, North America held the highest share in 2018.
Portland, Nov. 13, 2019 (GLOBE NEWSWIRE) — According to the report published by Allied Market Research, the global AI chip market was pegged at $6.64 billion in 2018 and is projected to attain $91.18 billion by 2025, registering a CAGR of 45.2% during the forecast period. The report provides a detailed analysis of the market size & estimations, top investment pockets, top winning strategies, drivers & opportunities, competitive scenario, and changing market trends.
A surge in demand for smart homes & smart cities, a rise in investments in AI startups, and the appearance of quantum computing are the factors for the growth of the global AI chip market. However, a dearth of skilled workforce impedes the market growth. On the other hand, a surge in the adoption of AI chips in emerging countries and the development of smart robots are expected to bring multiple opportunities in the near future.
The market is bifurcated into chip type, application, industry vertical, technology, processing type, and region. Based on chip type the market is divided into graphical processing unit (GPU), application-specific integrated circuit (ASIC), field-programmable gate array (FPGA), central processing unit (CPU), and others. The GPU chips segment held the lion’s share in 2018, contributing to nearly one-third of the market. On the other hand, the ASIC segment is expected to register the fastest growing CAGR of 51.9% throughout the study period.
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Based on applications, the natural language processing segment dominated the market in 2018, contributing nearly one-third of the total revenue share, and is expected to maintain its dominance throughout the study period. However, the robotics process automation segment is estimated to register the highest CAGR of 49.9% throughout the study period.
Based on geography, North America held the highest share in 2018, accounting for more than one-third of the total revenue. The region is expected to dominate the market throughout the study period. However, the market across the Asia-Pacific region is estimated to manifest the fastest CAGR of 49.7% throughout the forecast period.
The report provides an in-depth analysis of the major market players, including Mythic, Baidu, NVIDIA, Adapteva, UC-Davis, Advanced Micro Devices (AMD), Graphcore, Qualcomm, and Intel Corporation, Google, Inc.
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