Deep Learning Chip Market to Grow at a CAGR of 30.0% to reach US$ 21.31 Bn Million from 2019 to 2027
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Some of the companies competing in the Deep Learning Chip market are Advanced Micro Devices, Inc., Amazon Web Services, Inc., Bitmain Technologies Holding Company, Baidu, Inc., Google, Inc., Intel Corporation, NVIDIA Corporation, Qualcomm Technologies, Inc., Samsung Electronics Co. Ltd., and Xilinx Inc. among others.
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, the prominence of quantum computing is expected to drive the growth of the 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 a single processor to perform complex calculations in seconds. Additionally, with the internet's scale and size, deep learning helps to maintain large data sets at a very low cost. Hence, these factors are expected to boost the growth of the global deep learning chip market.
Deep Learning Chip Market: Industry Overview
The deep learning chip market by industry vertical is segmented into media & advertising, BFSI, IT & telecom, retail, healthcare, automotive & transportation, and others. The BFSI holds a significant share in the market, whereas, healthcare is expected to be the fastest-growing solution during the forecast period. The healthcare segment generates a huge amount of data ranging from customer’s personal data to clinical research data. The deep learning chip market is experiencing high growth in the medical sector with huge investments and projects made by companies to develop treatments based on the concept of machine learning. There are various areas where artificial intelligence is being applied in the healthcare sector. Some of these areas include Diagnosis and Treatment Systems, Image Analytics & Diagnosis and others. On the other hand, BFSI Institutions face a dynamic & challenging environment with superior competition from specialized Fin-Tech enterprises, increasing regulatory supplies and pressure on interest margins in a low-interest rate market. All of this at a time when consumer behavior is transforming and traditional banking practices and models are no longer adequate to achieve the increasing consumer demands.
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