Artificial Intelligence Chipset Market: Where the Future is Heading?
With the demand for smartphones booming at a massive pace and the trend for smart homes gaining a massive push, the need for artificial intelligence chips that can perform operations in an efficient manner is extremely high.
Seeing this demand, the startups and giants in the tech space are seen taking various steps to launch new chips. These new chips are such that they can bring innovation around the world and facilitate the functionality of smart systems.
Most recently, Intel was announced to be collaborating with social media giant Facebook in order to develop an inference chip. There are multiple research and development activities ongoing in the market. Researchers from the Electrical Engineering Department of the National Taiwan Normal University collaborated with T1 Technologies Inc. to develop the smallest artificial intelligence chip in the world. Apple, the global leader in the tech space, had recently announced its all-new A12 Bionic AI chip. The chip holds the ability to perform close to 5 trillion operations every second. All these activities and more are aimed at developing new chips and improving the market of AI chipsets.
Massive Growth on the Horizon
AI chipsets are designed in a manner wherein they consume low levels of power and offer high computing capabilities to various smart devices like laptops, smartphones, and smart wearables. The chipsets aid in increasing the operational performance of the device with the help of several advanced technologies like virtual reality augmented reality and analytical functions.
Global Artificial Intelligence Chipset Market is projected to garner a massive CAGR of 31.03% during the forecast period of 2018 to 2023 as per Market Research Future (MRFR). The valuation of the market is expected to reach USD 16.65 Billion by the end of the forecast period.
Due to the technology’s high-performance capacity and power efficiency level, the market is garnering massive traction from the semiconductor manufacturers and from the various other key industries like aerospace & defense and automotive.
The proliferating growth of artificial intelligence across healthcare, manufacturing, telematics, consumer electronics, and others is subsequently reflecting a favorable growth of the AI chipset market. AI chipsets like FPGAs, GPUs, and ASICs can perform various highly complicated computation tasks, making it a highly sought-after chipset solution.
North America Leading the Global Standings
Among the number of regions covered in the artificial intelligence chipset market, the North American region holds the highest share. The region held more than 40% of the market share back in 2017 and is expected to grow during the forecast period at an annual pace of 31.56%.
Countries like the US and Canada are advanced and established in the technological front and are witnessing fast-paced adoption of AI-centric technologies like 5G network, robotics, automation, and quantum computing. Add to this, the economic upsurge in Mexico is also driving growth towards the regional market.
The global artificial intelligence chipset market includes a host of key and emerging players. It includes names such as Qualcomm Technologies Inc., NVIDIA Corporation, IBM Corporation, Micron Technology Inc., Samsung Electronics Co Ltd., Huawei Technologies Co. Ltd, Xilinx Inc, Intel Corporation, Advanced Micro Devices Inc., Fujitsu Limited, and others.
June 2019, Luminous Computing announced the development of an optical microchip which holds the capability to run AI models much faster than other semiconductors, all the while using much less power. The company most recently had raised USD 9 million seed funding from some of the most prominent investors across the globe, including the CEO of Uber and, multi-billionaire and tech pioneer, Bill Gates. The company has a highly ambitious plan of accelerating AI with a new chip.
For More Information, Visit: https://www.marketresearchfuture.com/reports/artificial-intelligence-chipset-market-4987