The global AI chip market is expected to garner a large revenue by growing at a remarkable CAGR throughout the forecast period, i.e. 2021 – 2030, owing to the surging adoption of artificial intelligence technologies globally, increasing need to solve mathematical and computational problems effectively, and growing volume of data stored. More than $11 billion were spent on AI based business operations globally in 2019. Furthermore, rising investments in smart homes and cities is also estimated to fuel the expansion of market in the coming years.
Research Nester published a report titled “AI Chip Market: Global Demand Analysis & Opportunity Outlook 2030” which delivers detailed overview of the global AI chip market in terms of market segmentation by type, application, end user, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The market is segmented by type, end user and application. On the basis of end user, the IT & telecom segment is anticipated to grab the largest share during the forecast period accounting to the growing demand for smart appliances and increasing need of devices offering improved user experience. Additionally, the BFSI segment is also expected to occupy a notable market share in the near future on the back of availability of huge amount of data in this industry vertical.
Regionally, the AI chip market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and the Middle East & Africa. Asia Pacific is projected to witness the highest market growth during the forecast period, which can be attributed to the escalating use of AI technologies and intensifying investments to establish AI startups in the region.
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Growing Adoption of Artificial Intelligence to Drive Market Growth
Increasing developments in emerging economies such as China and India across a number of industries has created a major potential for the development of AI based technologies. Furthermore, growing investments by government agencies to build more number of smart homes and smart cities globally is anticipated to offer opportunities to develop devices embedded with an in-built AI chip, which is assessed to drive growth to the market in the coming years.
However, dearth of skilled IT professionals is expected to operate as key restraint to the growth of the AI chip market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global AI chip market which includes company profiling of NVIDIA Corporation (NASDAQ: NVDA), Intel Corporation (NASDAQ: INTC), Apple Inc. (NASDAQ: AAPL), Huawei Technologies Co., Ltd., International Business Machines Corporation (NYSE: IBM), Advanced Micro Devices, Inc (NASDAQ: AMD), Baidu, Inc. (HKG: 9888), Microsoft Corporation (NASDAQ: MSFT), Arm Limited, Graphcore Limited, and others. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the AI chip market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
“The Final Report will cover the impact analysis of COVID-19 on this industry (Global and Regional Market).”
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