Artificial Intelligence (AI) Chipset Market Projected to Grow at a CAGR of 49 %
Artificial Intelligence is expected to disrupt every business and enterprises across the world. One of the major factors that drive the growth of artificial intelligence chipset market is the growing advancement in big data, and adoption of artificial intelligence enabled devices and services across various different domains. Various internet and technology giants like Google, Facebook, Microsoft, Amazon, and Baidu are discovering a wide range of chipset technologies that can enable the artificial intelligence and can drive the market forward.
The market is segmented on the basis of components, application, technology, and end-user. The hardware component, especially the processor chipsets is leading the market share, where it has seen most of the application in smartphones and wearable devices. Another major factor that drive the market of artificial intelligence chipset is the expansion of human-aware AI systems and the wide scope of AI technologies. On the basis of technology, the natural language processing (NLP) is having the largest market share. This is majorly due to the increasing application of natural language processing for the improvement of consumer services in the retail sector. The market is also segmented under different regions like North America, Europe, Asia Pacific and rest of the world.
Artificial intelligence chipset market offers significant growth opportunities for all the participants and investors involved. The expansion of human-aware AI systems and the wide scope of AI technologies in niche markets are the opportunities that exist today. Further, artificial intelligence technologies are the future for many industries that are striving for efficient, low-cost operations and high profitability in their markets.
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Major Key Players
The artificial intelligence chipset market largely comprises of chipset manufacturers delivering a major proportion of services to smartphone manufacturers and smart device manufacturers. Many of the smartphone manufacturers have their in-house chipset manufacturing, yet other manufacturers acquire services from other firms. Some of the prominent players in artificial intelligence chipset market include Huawei Technologies Co. Ltd (China), Qualcomm, Inc (U.S.), FinGenius Ltd. (U.K.), General Vision, Inc. (U.S.), NVIDIA Corporation (U.S.), Intel Corporation (U.S.), MediaTek Inc (Taiwan), Samsung Electronics Co., Ltd (South Korea), Advanced Micro Devices (U.S.), Apple Inc (U.S.).
The other key players in the market include Numenta, Inc. (U.S.), Sentient Technologies (U.S.), Inbenta Technologies, Inc. (U.S.), Cerebras Systems (U.S.), Microsoft Corporation (U.S.), Google Inc (U.S.), IBM Corporation (U.S.) among others.
Artificial Intelligence Chipset Market Is Estimated To Grow At A CAGR Of 49 % by 2023
By geography, the market is segmented into North America, Europe, Asia Pacific and the rest of the world. North America holds the largest market share of the artificial intelligence chipset. North America is a fastest-growing markets in terms of technological development, production operations and processes, and others. The higher implementation of AI technologies in various industrial sectors like manufacturing, media and entertainment, healthcare is the major reason adding to the growth of the artificial intelligence market in North America. Companies like Tesla, Apple and IBM are innovating to install artificial intelligence enabled chipsets in automobiles, smartphones and medical equipment.
Companies like Apple, Huawei, and Samsung have installed artificial intelligence chips on their latest smartphone and are planning to expand this technology, to various regions. Due to the higher presence of smartphone manufacturers and semiconductor industry, the Asia Pacific region is expected to grow at a fast pace. Countries like China, Taiwan, and South Korea, hold nearly about 80% of global smartphone manufacturers, and most of them turn to be the largest.
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- Artificial Intelligence Chipset services providers
- Software Solution providers
- Semiconductor services providers
- Imaging Analytics vendors
- Cloud Service providers
- Project accounting solution providers
- Value-added resellers
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