According to the latest market research report “Artificial Intelligence (Chipsets) Market by Technology (Machine Learning, Natural Language Processing, Context-Aware Computing, Computer Vision), Hardware (Processor, Memory, Network), End-User Industry, and Geography – Global Forecast to 2025″, published by MarketsandMarkets™, the overall market is estimated to be valued at USD 7.06 Billion in 2018 and is expected to be worth USD 59.26 Billion by 2025, growing at a CAGR of 35.5% from 2018 to 2025.
The availability of big data, coupled with AI algorithms for an extensive range of application areas, is fueling the growth of the AI (chipsets) market. Increased productivity and improved customer satisfaction are the other key factors driving this market.
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Machine learning to hold largest market share from 2018 to 2025
Machine learning is expected to hold the largest share of the AI (chipsets) market from 2018 to 2025. Machine learning enables systems to automatically improve their performance with experience. ML aims to develop a computer program/algorithm that can access data and use it to train itself with no human intervention. Machine learning’s ability to collect and handle big data, and its applications in real-time speech translation, autonomous robots, and facial analysis are fueling its growth.
AI (chipsets) market for memory to grow at highest CAGR from 2018 to 2025
The AI (chipsets) market for memory is expected to grow at the highest CAGR during the forecast period. Increasing demand for memory to run large and complex AI algorithms based on AI technologies such as machine learning, computer vision, and predictive analytics is driving the growth of memory devices. In addition, high-bandwidth memory is being developed and deployed for AI applications, independent of its computing architecture.
Marketing to account for largest market size among other end-user industries between 2018 and 2025
The AI (chipsets) market is currently led by the marketing end-user industry. This is attributed to the increasing use of AI for performance improvement of marketing campaigns through better decision-making and offering personalized content to the target markets. Search advertising, social media advertising, and sales and marketing automation are the major applications of AI in marketing.
North America to lead AI (chipsets) market in terms of market size
North America held the largest share of the AI (chipsets) market in 2017. The increasing adoption of AI technology in various end-user industries, such as healthcare, manufacturing, automotive, agriculture, retail, marketing, law, and fintech, and strong presence of industry giants and emerging AI companies in the region are the key factors supporting the growth of the AI (chipsets) market in North America.
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Companies that are profiled in this report are NVIDIA (US), Intel (US), Xilinx (US), Samsung Electronics (South Korea), Micron Technology (US), Qualcomm Technologies (US), IBM (US), Google (US), Microsoft (US), and AWS (US). Some of the key start-ups included in this report are Graphcore (UK), Wave Computing (US), Mythic (US), Adapteva (US), and Koniku (US).
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