The AI (chipsets) market is expected to grow from USD 7.06 Billion in 2018 to USD 59.26 Billion by 2025, at a CAGR of 35.5% from 2018 to 2025.
The major drivers for the growth of this market are increasingly large and complex dataset driving the need for AI and the adoption of AI for improving consumer services. Moreover, the increasing number of AI applications, improving computing power, and declining hardware cost are propelling the market growth.
In the technology segment, machine learning holds the largest share of the AI (chipsets) market. Moreover, the market for computer vision is expected to grow at the highest CAGR from 2018 to 2025. The increasing adoption of machine learning technologies, such as supervised learning, deep learning, and unsupervised learning, in various end-user industries, such as marketing, fintech, retail, cybersecurity, healthcare, and automotive, is driving the growth of machine learning technology in the AI (chipsets) market. The growing adoption of computer vision technology for image processing application, especially in manufacturing and automotive industries, is fueling the growth of computer vision in the AI (chipsets) market.
In the hardware segment, processor holds the largest share of the AI (chipsets) market. The market for memory is expected to witness the highest growth during the forecast period. Growing demand for high-computing processors, especially at servers, is driving the growth of CPU in the AI (chipsets) market. GPU offers high parallel computing capabilities necessary to run machine learning and deep learning applications. To cater to the demand for memory to compute large and complex AI algorithms, high-bandwidth memory is witnessing significant demand.
Among the various end-user industries covered in this report, marketing held the largest market share, followed by security. The growth of AI (chipsets) in marketing 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. Additionally, applications such as search advertising, social media advertising, and sales and marketing automation are supplementing the growth of AI (chipsets) in marketing.
Of all the regions, North America held the largest market share in terms of revenue 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 especially in the US are the key factors supporting the growth of the AI (chipsets) market in North America. The market in APAC is expected to grow at the highest CAGR from 2018 to 2025. Improving IT infrastructure and favorable federal policies in countries such as China, Japan, India, South Korea, Australia, and Singapore are supporting this growth.
The key restraining factors for this market are the lack of skilled workforce and absence of standards and protocols. NVIDIA (US), Intel (US), Xilinx (US), AMD (US), Huawei (China), and Qualcomm Technologies (US) were some of the leading players in the AI (chipsets) market in 2017.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Artificial Intelligence (Chipsets) Market, By Technology
7 Artificial Intelligence (Chipsets) Market, By Hardware
8 Artificial Intelligence (Chipsets) Market, By End-User Industry