Press release
Leading Companies Reinforce Their Presence in the Artificial Intelligence Chip Market
Artificial Intelligence Chip
Projected Market Size and Growth Path for the Artificial Intelligence Chip Industry
The artificial intelligence chip market is poised for significant growth, expected to reach $157.98 billion by 2029. This reflects a staggering compound annual growth rate (CAGR) of 40.8%. The surge in market value will be propelled by the rising need for data-heavy applications, improvements in machine learning algorithms, expansion within the automotive sector, growing financial services, and rapid urbanization. Important trends influencing the market during this period include the development of customized AI hardware, acceleration of edge AI, integration of quantum computing, advances in neuromorphic computing, and a focus on energy-efficient AI chips.
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Leading Companies Driving the Artificial Intelligence Chip Market
The market features a range of influential players driving innovation and competition. Key companies include Intel Corporation, Mediatek Inc, NVIDIA Corporation, Qualcomm Technologies Inc., Advanced Micro Devices Inc, Alphabet Inc, NXP Semiconductors N.V, Micron Technology Inc, IBM Corporation, Apple Inc, Huawei Technologies Co Ltd, Mythic Inc, Samsung Electronics Co Ltd, LG Corporation, Google LLC, Baidu, Mellanox Technologies, Xilinx Inc., Graphcore, Cerebras Systems, Habana Labs, Vinova Pte Ltd., MemryX Inc., BrainChip Holdings Ltd., and NeuReality Ltd.
In August 2023, Advanced Micro Devices Inc., a US-based semiconductor giant, acquired Mipsology, a France-based AI software and tools company, for an undisclosed sum. This strategic acquisition aims to enhance AMD's portfolio of artificial intelligence tools and bolster its competitive position in the chip sector.
Emerging Trends and Technological Advancements in the AI Chip Market
Top companies in the AI chip market are heavily investing in new technologies and research to stay ahead. For example, Rebellions Inc., a South Korean firm specializing in generative AI chips, introduced the Atom AI chip in February 2023. Atom incorporates a unique decentralized programming model that equips users with powerful yet energy-efficient AI hardware, alongside seamless software integration.
This innovative chip is designed to consume merely 20% of the power used by other high-performance chips, targeting domain-specific AI processing combined with software optimized for its capabilities. This development exemplifies the push toward more sustainable and specialized AI hardware solutions.
View the full artificial intelligence chip market report:
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Segment Analysis and Market Forecast for the Global Artificial Intelligence Chip Industry
The global AI chip market is divided into several crucial segments to better understand its structure and future direction. These segments include:
1) Chip Type: GPU, ASIC, FPGA, CPU, and other chip varieties
2) Processing Type: Edge computing and Cloud computing
3) Technology: System-On-Chip (SoC), System-In-Package (SIP), Multi-Chip Module, and additional technologies
4) Application Areas: Natural Language Processing (NLP), Robotics, Computer Vision, Network Security, among others
5) Industry Verticals: Media and Advertising, Banking, Financial Services, and Insurance (BFSI), IT and Telecom, Retail, Healthcare, Automotive and Transportation, plus other industries
Further subdivision includes:
- GPUs categorized into Consumer GPUs, Data Center GPUs, and Integrated GPUs
- ASICs split into Deep Learning ASICs and Neuromorphic ASICs
- FPGAs divided into Standard and High-Performance variants
- CPUs encompassing General-Purpose and AI-Optimized processors
- Other chip types such as Digital Signal Processors (DSP), RISC-V chips, and hybrid chip technologies
This detailed segmentation provides a clear roadmap for understanding the diverse applications and technological advances shaping the AI chip market's future.
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