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Artificial Intelligence Chip Market: Global Opportunity Analysis and Industry Forecast, 2019-2025
Artificial Intelligence Chip Market
An Artificial Intelligence (AI) chip is similar to a GPU chip and is designed to perform AI tasks efficiently. These are silicon chips that include AI technology and use machine learning and IoT that have the ability to analyse data and make decisions based on it. It solves computational and mathematical problems efficiently, as large volumes of data makes the decision making process crucial.
AI chips are being used in the automotive, healthcare, aerospace & defence, consumer electronics, and others. AI chips are being used in data centres as they increase server optimization, and provide energy efficiency and better security management, which the conventional technologies do not allow. In addition to these, these chips are widely used in robotics to enable them to work intelligently and smartly.
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The global AI chips market is expected to grow at a CAGR of 44.6% during the forecast period. The increasing demand for smart cities, smart homes, smart robots, smart TVs, smart speakers, and others are driving the market for AI chips. There is a wide use of machine learning in AI chips, which is gaining popularity in the market, thereby increasing the market share. There are huge investments in AI startups and increasing adoption of AI in various developing countries with intensive R&D activities, which will further increase the demand for AI chips.
The BFSI sector has the largest share in the AI chips market, as AI chips can be incorporated in the banking system to help clients in making decisions related to investments. In addition to this, the increasing demand for reliability and safety in the automobile industry makes it important to use AI chips.
AI chips offers highly innovative solutions when it comes to memory, processing, input-output and interconnected technologies. The growing investment and developments in automotive, transportation, retail, finance, healthcare, and media and advertisement in the emerging countries of the Asia-Pacific region will contribute to the rising demand for AI chips in this region.
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