Deep Learning Chip Market Size to Reach $81,776.8 Million By 2030

The deep learning chip market size is expected to witness considerable growth, owing to emergence of quantum computing and increase in implementation of deep learning chips in robotics. North America exhibits the highest adoption of deep learning chips. On the other hand, the Asia-Pacific region is expected to grow at a faster pace, predicting lucrative growth.

According to a recent report published by Allied Market Research, titled, "Deep Learning Chip Market by Chip Type, Technology, and Industry Vertical: Global Opportunity Analysis and Industry Forecast, 2021-2030", the deep learning chip market was valued at $4,465.2 million in 2020, and is projected to reach $81,776.8 million by 2030, registering a CAGR of 35.2% from 2021 to 2030.

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Deep learning is a branch of machine learning which is based on artificial neural networks. Deep learning algorithms use a neural network to find associations between a set of inputs and outputs. Deep learning is a particular kind of machine learning that achieves great power and flexibility by learning to represent the world as a nested hierarchy of concepts. It powers some of the most interesting applications in the world, like autonomous vehicles and real-time translation. Some of the application where deep learning chips are widely used include healthcare, automotive, retail, IT & telecommunication, and industrial. Automotive industry is expected to grow with the significant growth rate during the forecast period.

The constantly evolving retail industry, automotive and healthcare industry majorly drives the growth of the deep learning chip market. Further, increase in number of electric vehicles and the emergence of the quantum computing, increase in number of AI applications, and development of smarter robots drive the growth of the deep learning chip market. However, dearth of skilled workforce is expected to hinder the growth of the deep learning chip market.

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Deep learning chip market by GPU chip type contributed the maximum in terms of revenue to the market and accounted for around 34.1% share in 2020. Factors such as development of smarter robots and increased adoption of deep learning chips in the developing regions propel the market growth. Deep learning chip by system on chip technology is expected to dominate the market growth during the forecast period.

Covid-19 Impact

COVID-19 has impacted the global electronics and semiconductor sector, due to which production facility as well as new projects have stalled. The emergence of COVID-19 has lowered the growth of the deep learning chip market in 2020, and is estimated to witness significant growth till the end of 2021. Implementation of partial or complete lockdown across countries is the prime reason for the lower growth rate.

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Key Findings Of The Study

By chip type, the GPU segment generated the highest revenue in the deep learning chip market in 2020.
By technology, the system on chip segment held the largest market share revenue in the deep learning chip market in 2020.
By industrial vertical, the automotive segment is expected to grow at a significant rate during the forecast period.

The key players operating in this market are AMD (Advanced Micro Devices), Google, Inc., Intel Corporation, NVIDIA, Baidu, Bitmain Technologies, Qualcomm, Amazon, Xilinx, and Samsung. These key players have adopted strategies, such as product portfolio expansion, mergers & acquisitions, agreements, regional expansion, and collaboration, to enhance their market penetration.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

This release was published on openPR.