Artificial Intelligence Chips, or AI Hardware, are specifically created accelerators for Artificial Neural Networks (ANN). Field-Programmable Gate Arrays (FPGAs), Graphics Processing Units (GPUs), Artificial Intelligence Processor, Artificial Intelligence Brain Chip, and Application-Specific Integrated Circuits (ASICs) are the components of AI chips, and each of them is specifically created for AI. The general-purpose devices known as Central Processing Units (CPUs) can also be employed for some fundamental AI operations. However, they are becoming less valuable as AI develops and is extensively used.
According to a new report published by Allied Market Research, titled, “Artificial Intelligence (AI) Chip Market, by Chip Type, Processing Type, Technology, Application, Industry Vertical, and Region: Global Opportunity Analysis and Industry Forecast, 2022–2031“, the Artificial Intelligence (AI) Chip Market was valued at $11.2 billion in 2021 and is estimated to reach $263.6 billion by 2031, growing at a CAGR of 37.1% from 2022 to 2031.
The key players profiled in the Artificial Intelligence (AI) Chip Market growth report include Advanced Micro Devices, Alphabet Inc. (Google Inc.), Apple, NXP Semiconductors N.V., Analog Devices, Inc., Intel Corporation, Mediatek, Inc., NVIDIA Corporation, Qualcomm Incorporated, and Microsemi Corporation. Market players have adopted various strategies such as acquisition, product launch, collaboration, partnership, expansion, and investment to expand their foothold in the Artificial Intelligence (AI) Chip Market.
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The Artificial Intelligence (AI) Chip Market share is expected to witness considerable growth in coming years, owing to the increasing neuromorphic research in an emerging field within the areas of AI hardware which is anticipated to boost the demand for AI chips during the forecast period.
According to Artificial Intelligence (AI) Chip Market analysis, among chip types, the CPU segment was the highest contributor to the market in 2021, whereas CPU and GPU segments collectively accounted for a notable market share in 2021. Among processing types, the edge segment was the highest revenue contributor in 2021. Among technology, the System On Chip segment was the highest contributor to the Artificial Intelligence (AI) Chip Market in 2021. Among application nature, the language processing segment accounted for a notable market share in 2021. Among industry verticals, healthcare and BFSI, segments collectively accounted for around notable market share in 2021.
The semiconductor industry globally has been impacted by the spread of Covid-19 and improvements are expected to be completed in the upcoming years with more efficiency in order to make up for lost opportunities during lockdowns.
Region-wise, the Artificial Intelligence (AI) Chip Market trends are analyzed across North America (the U.S., Canada, and Mexico), Europe (UK, Germany, France, Russia, and the rest of Europe), Asia-Pacific (China, Japan, India, Australia, and the rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa). North America, specifically U.S., remains a significant participant in the Artificial Intelligence (AI) Chip Market. Major organizations and government institutions in the country are intensely putting resources into the technology to develop and deploy advanced technology solutions in the Healthcare, BFSI, and automotive and transportation industry verticals during the forecast period.
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KEY FINDINGS OF THE STUDY
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The CPU segment was the highest revenue contributor to the Artificial Intelligence (AI) Chip Market size, with $4,239.7 million in 2021, and is estimated to reach $92,511.3 million by 2031, with a CAGR of 36.0%.
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The edge segment was the highest revenue contributor to the artificial intelligence chip industry, with $6,896.8 million in 2021, and is estimated to reach $189,049.3 million by 2031, with a CAGR of 39.1%.
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The system-on-chip and system-in-package segments collectively accounted for around 72.7% Artificial Intelligence (AI) Chip Market share in 2021.
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The natural language processing and robotics segments collectively accounted for around 55.3% Artificial Intelligence (AI) Chip Market share in 2021.
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The healthcare and BFSI segments collectively accounted for around 37.9% market share in 2021.
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North America and Europe collectively accounted for around 61.8% share in 2021.
