Machine Learning Chip Global Market Report 2024 - By Demand, Size, Share, Growth, Forecast To 2033

The machine learning as a service market size has grown exponentially in recent years. It will grow from $8.18 billion in 2023 to $11.21 billion in 2024 at a compound annual growth rate (CAGR) of 37.0%. The growth in the historic period can be attributed to advancements in machine learning algorithms, increased data availability, rise in adoption of cloud computing, business need for predictive analytics, demand for automated machine learning.

The machine learning as a service market size is expected to see exponential growth in the next few years. It will grow to $38.94 billion in 2028 at a compound annual growth rate (CAGR) of 36.5%. The growth in the forecast period can be attributed to industry-specific solutions, emergence of explainable ai, focus on edge computing, expansion of natural language processing (nlp), ai integration with internet of things (iot). Major trends in the forecast period include global adoption of industry 4.0, integration with big data technologies, explainable ai (xai) integration, federated learning for privacy preservation, vertical-specific solutions.

Market Overview -
Machine-learning chips are specialized hardware components designed to accelerate the processing of machine-learning algorithms. These chips are crafted to handle the complex mathematical computations involved in training and inference tasks associated with machine-learning models more efficiently than general-purpose ones.

Download Free Sample of Report -
https://www.thebusinessresearchcompany.com/sample.aspx?id=13694&type=smp

Surge In Cybersecurity Threats Fuels Demand For Machine Learning Chips
The rise in cyberattacks is expected to propel the growth of the machine learning chip market going forward. A cyberattack refers to any offensive maneuver that targets computer information systems, networks, infrastructures, or personal devices with the intent to collect, disrupt, deny, degrade, or destroy information system resources or information. Machine learning chips are helpful in cybersecurity by enabling the use of machine learning algorithms to constantly evaluate data, identify patterns, and make accurate predictions to mitigate potential cyber-attacks. For instance, in February 2023, according to the Australian Cyber Security Centre, an Australia-based cyber security agency, the cybercrime reports received in 2022 were 76,000, up from 13% from the previous year. Furthermore, in June 2022, according to the Anti-Phishing Working Group, a US-based organization, the APWG recorded a total of 1,025,968 phishing attacks in the first quarter of 2022, representing a 15% rise from the fourth quarter of 2021, when 888,585 attacks were reported. Therefore, the rise in cyberattacks is driving the growth of the machine learning chip market.

Competitive Landscape -
Major companies operating in the machine learning chip market report are Google LLC, Samsung Electronics Co. Ltd., Tencent Holdings Limited, Amazon Web Services Inc., Taiwan Semiconductor Manufacturing Company Limited (TSMC), Intel Corporation, International Business Machines Corporation (IBM), SoftBank Group Corp, Qualcomm Incorporated, Micron Technology, Inc. (US), NVIDIA Corporation, Toshiba Corporation, Advanced Micro Devices Inc., Texas Instruments Incorporated, Baidu Inc., NXP Semiconductors, Synopsys Inc., Lattice Semiconductor Corporation, Horizon Robotics, Hailo, Cerebras Inc., BitMain Technologies Holding Company, Graphcore, Mythic, Gyrfalcon Technology, Flex Logix Technologies, Wave Computing, Inc., Esperanto Technologies, BrainChip Holdings

Innovation In Advanced System-On-Chips (SoCs) To Gain Competitive Advantage
Major companies operating in the machine learning chip market are focused on developing innovative products, such as advanced system-on-chips (SoCs), to gain a competitive edge in the market. A system-on-chip (SoC) refers to an integrated circuit (IC) that incorporates all the components of a complete electronic system onto a single chip. For instance, in January 2022, Silicon Labs, a UK-based semiconductor manufacturing company, launched new AI/ML chips and a toolkit for the edge, aiming to enable the implementation of artificial intelligence (AI) and machine learning (ML) at the IoT edge. It is a new wireless SoC that includes an AI and machine learning accelerator, wireless radio, ultra-lower-power capabilities, and support for IP-based connectivity protocols, such as Matter and Zigbee.

Browse Full Report
https://www.thebusinessresearchcompany.com/report/machine-learning-chip-global-market-report

Key Segments -
The machine learning chip market covered in this report is segmented -
1) By Chip Type: Graphics Processing Unit (GPU), Application-Specific Processor (ASIC), Field Programmable Gate Array (FPGA), Central Processing Unit (CPU), Other Chips
2) By Technology: System-on-Chip (SoC), System-in-Package, Multi-chip Module, Other Technologies
3) By Industry Vertical: Banking, Financial Services, And Insurance (BFSI), IT And Telecom, Media And Advertising, Retail, Healthcare, Automotive, Other Industry Verticals

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info

Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model"

Want To Know More About The Business Research Company?
The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialise in various industries including manufacturing, healthcare, financial services, chemicals, and technology.

Global Market Model - World's Most Comprehensive Database
The Business Research Company's flagship product, Global Market Model (www.thebusinessresearchcompany.com/global-market-model) is a market intelligence platform covering various macroeconomic indicators and metrics across 60 geographies and 27 industries. The Global Market Model covers multi-layered datasets which help its users assess supply-demand gaps

This release was published on openPR.