|AI Chipset Market Valuation is Estimated to Touch USD 38.46 Billion by 2025 at 39.18% CAGR - Report by Market Research Future (MRFR)|
June 24, 2021 10:00 ET | Source: Market Research Future
New York, US, June 24, 2021 (GLOBE NEWSWIRE) -- Market Overview:
According to a comprehensive research report by Market Research Future (MRFR), “Global AI Chipset Market information by Components, by Technology and Application – forecast to 2027” the market is predicted to touch USD 38.46 Billion at a whopping 39.18% CAGR between 2019- 2025.
The global artificial intelligence chipset market is growing rapidly, witnessing advances in AI chipset technologies. Advancements in AI, 5G, and IoT technologies contribute to the AI chipset market growth. Moreover, increasing government initiatives to drive the development of IoT-based modules create significant market opportunities.
As the world becomes more digitized and connected, advanced technologies like AI gain significant prominence in the industrial spectrum. This, as a result, is estimated to enable AI chipsets to emerge as solutions for large-scale data processing, and the AI chipset market would garner significant accruals.
The market is majorly driven by an increase in the number of smart connected devices, the need to improve company efficiency, and an increase in reliance on the Internet. The increased need for real-time networking across industry sectors such as manufacturing, automobile, transportation, energy & utility, aerospace, and oil & gas is also aiding the market growth.
Dominant Key Players on AI Chipset Market Covered Are:
- Micro Technology (US)
- IBM Corporation (US)
- Samsung Electronics Co. Ltd (South Korea)
- Huawei Technologies Co. Ltd (China)
- Advanced Micro Devices (US)
- Intel Corporation (US)
- NVIDIA Corporation (US)
- Qualcomm Technologies Inc. (US)
Market USP exclusively encompassed:
AI chipsets, also known as AI accelerators, play a causal role in achieving the high speeds and efficiencies necessary for large-scale AI-specific calculations. Artificial intelligence is driving rapid transformation across the industrial landscape. With companies becoming more data-driven, the demand for AI is growing too.
Speech recognition, security systems, recommendation systems, medical imaging, and better supply-chain management are the areas in which AI technology has enabled organizations to execute their work efficiently, with the tools, algorithms, and computing power. AI chipsets are expected to be the most important component of future smart devices.
Rising demand for AI chipsets in industries like finance, education, logistics, transportation, and healthcare boosts the artificial intelligence chipset market growth. Besides, increasing AI-backed applications have significantly increased the demand for AI chipsets. Solution providers are making substantial investments to foster R&D activities to develop and improve AI chips.