“The global deep learning chip market accounted to US$ 2.04 Bn in 2018 and is expected to grow at a CAGR of 30.0% during the forecast period 2020 – 2027, to account to US$ 21.31 Bn by 2027.”
North America leads the global deep learning chip market, and it is anticipated to be the highest revenue contributor throughout the forecast period. Deep learning chip development is backed by large-scale investment from technological giants to develop patterns from huge amount of generated data. The rise of quantum computing and implementation of deep learning chips in robotics is driving the growth of the deep learning chip market in the North American countries.
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- Advanced Micro Devices, Inc.
- Alphabet Inc. (Google)
- Amazon.com, Inc.
- Baidu, Inc.
- Huawei Technologies Co., Ltd
- Intel Corporation
- NVIDIA Corporation
- Qualcomm Incorporated
- Samsung Electronics Co., Ltd.
- Xilinx, Inc.
Prominence of Quantum Computing contribute to the deep learning chip market growth
Quantum computing takes seconds to finish a calculation that would otherwise take more time. Quantum computers are an innovative transformation of artificial intelligence, machine learning, and big data. Therefore, prominence of quantum computing is expected to drive the growth of deep learning chip market. Furthermore, quantum computing is beneficial for various factors including, portfolio optimization, fraud detection and risk management, and the areas where immediate data feedback is required. Thus, it is easier for single processor to perform complex calculations in seconds. Additionally, with the internet’s scale and size, deep learning helps maintaining large data sets at a very low cost. Hence, these factors the expected to boost the growth of the global deep learning chip market.
Real time consumer behavior insights and increased operational efficiency to propel the overall growth of deep learning chip market
The nature of business is becoming very competitive and to compete efficiently, enterprises nowadays relying on useful information and business analytics. Traditionally, business analytical tools were used to project sales from the data about events that were a week or month old. With the advent of artificial intelligence technology which learns in real time and provides recommendations based on patterns, businesses have a tremendous opportunity to apply deep learning in various processes to better understand the business environment and customers.
Considering these factors, artificial intelligence enables businesses to improve operational efficiency, lower operating costs, enhance service quality and customer experience.
Chip Type Insights
Graphic Processing Units (GPUs) held the major deep learning chip market share in 2018, whereas Application Specific Integrated Circuits (ASICs) is expected to be the fastest growing segment during the forecast period. Owing to the factor that ASICs are very specific and less flexible but they are one of the highest performing hardware options available for artificial intelligence applications.
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Frequently Asked Questions
What are reasons behind the North America deep learning chip market growth?
North America is one of the fastest-growing regions in terms of technological development. In the past 3 years, the region witnessed significant adoption of AI solutions across all the sectors. North America contributes the largest market share in terms of revenue, and it is estimated that it will continue its dominance in the market share during the forecast period. Deep learning chip development is backed by large-scale investment from technological giants to develop patterns from huge amount of generated data. The rise of quantum computing and implementation of deep learning chips in robotics drive the growth of the deep learning chip market in the North American countries.
What are market opportunities for deep learning chip?
Presently, the major applications of deep learning chips are in the data center/cloud computing segment, and this trend is expected to continue during the forecast period. Also, majorly due to rising adoption of AI in developing regions, evolving architectures of deep learning chips and increasing applications across various industry verticals. Owing to this growing trend, the companies are anticipated to produce high-quality service by adopting cloud-based artificial intelligence services.
Which industry vertical hold the major share in the deep learning chip market?
The BFSI industry dominated the deep learning chip market in the year 2018. Banking, financial services, and insurance (BFSI) industries have great potential for deep learning chips due to the presence of huge financial and personal data of customers. In this sector, a high amount of sensitive data is generated and exchanged every day. There is growing volume and creation of endpoints and mobile devices in banks, credit card companies, and credit reporting institutions, thus, it becomes important for these industry verticals to harness this data to gain insights about various business aspects.
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