Report Ocean has recently published a research report on the global artificial intelligence (chipsets) market, analyzing its growth prospects over the period from 2020 to 2027. The report is titled as “Global Artificial Intelligence (Chipsets) Market Size study, by Hardware (Processor, Memory and Network), by Technology (Machine Learning, Natural Language Processing, Context-aware Computing, Computer Vision and Predictive Analysis), by Function (Training and Inference), by End-Use Industry (Healthcare, Manufacturing, Automotive, Agriculture, Retail, Cybersecurity, Human Resources, Marketing, Law, Fintech and Government) and Regional Forecasts 2020-2027.”
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Artificial intelligence (AI) chipsets are specialized silicon chips that incorporate AI technology to remove complicated calculations and issues faced by individuals in a number of industry verticals. The demand for these chipsets is significantly high in machine learning (ML), where these are applied to solve crucial mathematical and computational problems effectively. The efficiency of these chipsets in increasing the operational performance of virtual reality (VR) and augment reality (AR) devices with and analytical functions and enhancing the user experience has augmented their popularity, which in turn, is adding to the growth of the global AI chipsets market. The high computing capabilities to smart devices, such as smartphones, laptops, and smart wearables, offered by these chipsets are likely to boost this market in the years to come.
The overall valuation of the global artificial intelligence (chipsets) market was US$5.4 bn in 2019. The market is anticipated to report a massive rise at a CAGR of more than 40.10% over the forecast period from 2020 to 2027. The increasingly large and complex data set, fueling the need for AI, is expected to drive this market in the near future. In addition, the rising uptake of AI to improve consumer services and reduce operational cost, increasing number of AI applications, enhancing computing power, and augmenting adoption of deep learning and neural networks are projected to fetch growth in the market over the forecast period. However, the dearth of skilled AI workforce may restrict this growth in the years to come.
Impact of Covid 19 on Global Artificial Intelligence (Chipsets) Market
The ongoing pandemic has damaged the business in many markets but the global AI chipsets market is certainly not one of them. In fact, with touchless operations in trend, artificial intelligence has taken the center stage and the demand for these chipsets has risen multifold. The market is likely to continue deriving growth from this situation in the near future.
North America to Report Highest Growth
Regionally, the worldwide market for AI chipsets reports its presence across Asia Pacific, North America, Europe, Latin America, and the Rest of the World. North America has been leading the global market over the past few years and it is likely to remain dominant in the years to come as well. The increasing concerns pertaining to the security of critical infrastructure and sensitive data has resulted in raised government intervention, which in turn, is leading to a high uptake of AI chipsets in this region. Among other regional markets, Asia Pacific is anticipated to register a high growth rate during the period of the forecast, states the research report.
Key Findings:
The global artificial intelligence (chipsets) market is as follows:
By Hardware
By Technology
By Function
By End-use Industry
By Region
Companies Mentioned in the Report
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