According to a recent report published by Allied Market Research, titled, "Artificial Intelligence Chip Market by Chip type, Application, Technology, and Industry vertical: Global Opportunity Analysis and Industry Forecast, 2018-2025," the global artificial intelligence chip market was valued at $4,515 million in 2017, and is projected to reach $91,185 million by 2025, growing at a CAGR of 45.4% from 2018 to 2025.
At present, North America dominates the market, followed by Europe. In 2017, U.S. dominated the North America market and UK led the overall market in Europe. However, in Asia-Pacific, the China currently dominates the market.
The growth of the global artificial intelligence chip market is driven by increase in demand for smart homes, development of smart cities, and emergence of quantum computing. However, development of smart cities restrain the market growth. Further, in the near future, increased adoption of AI chips in the developing regions and development of smarter robots are expected to create lucrative opportunities for the key players operating in the artificial intelligence chip market.
In 2017, the GPU segment dominated the global artificial intelligence chip market in the design chip type, in terms of revenue. However, the others segment is expected to grow at a highest CAGR over the forecasted period. Furthermore, based on application, machine learning led the global market in 2017, followed by Natural Language Processing (NLP). By technology, the system-on-chip segment is anticipated to dominate the market throughout the forecast period (2018-2025). Moreover, the BFSI segment dominates the overall AI chip market, in terms of industry vertical. The artificial intelligence chip market holds high potential for the semiconductor industry. The current business scenario has been witnessing an increase in the demand for an artificial intelligence chip, particularly in the developing regions, such as China, India, and others. Companies in this industry have been adopting various innovative techniques to provide customers with advanced and innovative product offerings.
On the basis of chip type, the GPU led the AI chip market in the year 2017. However, the ASIC segment is anticipated to overtake the GPU type in the near future, in terms of revenue.
The machine learning application dominated the global artificial intelligence chip market in 2017.
The North America region held the majority of market share in 2017.
By industry vertical, the BFSI segment has been dominating the global artificial intelligence chip market in the year 2017. However, the others segment is expected to grow at the highest CAGR over the forecast period (2018-2025).
LAMEA is anticipated to exhibit the highest CAGR during the forecast period.
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