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The global artificial intelligence (AI) chipsets market size is expected to reach USD 108.85 billion by 2027. The growing integration of AI chips to enhance analytical functions in virtual reality (VR), and augmented reality (AR) will foster the growth of the market, mentioned in a report, titled “Artificial Intelligence (AI) Chipsets Market Size, Share & COVID-19 Impact Analysis, By Chipset Type (Graphics Processing Unit (GPU), Field Programmable Gate Arrays (FPGAs), Application-specific Integrated Circuit (ASIC) and Others), By Application (Natural Language Processing (NLP), Robotic Process Automation (RPA), Machine Learning, Computer Vision and Others), By Computing Technology (Cloud Computing and Edge Computing), By Function (Training and Inference), By Industry (Consumer Electronics, Healthcare, BFSI, IT & Telecom, Manufacturing, Automotive, Retail, and Others), and Regional Forecast, 2020-2027.” The market size stood at USD 8.14 billion in 2019 and is expected to exhibit an excellent CAGR of 38.9% between 2020 and 2027
Introduction of New AI Chip by ARM to Strengthen Market
ARM, a leading semiconductor technology firm owned by SoftBank Group announced that it has introduced a chip technology aimed at putting artificial intelligence functions on tiny devices such as sensors designed to detect patterns in human speech or other streams of data. ARM has provided chip technology to mobile phone semiconductor suppliers such as Qualcomm and device manufacturers such as Apple. The company has expanded its area of the target, focusing on the Internet of things to automate agricultural irrigation systems through connected sensors. Furthermore, the new Cortex M55 processor launched by the company is paired with Ethos-U55 "neural processing unit." Besides, the technology is designed to function with very low amounts of electricity, thus allowing devices such as sensors to last for years
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Lack of Familiarity about AI systems to Retard Development
The lack of workforces with notable experience and certain skill sets to develop manage, and deploy AI systems by enterprises can dampen the growth of the market. AI consists of complex algorithms, thus requires proper knowledge to operate. the integration of AI-based solutions in the existing systems is another challenge expected to restrict the growth of the market. Besides, the lack of professional certifications and standards in advanced technologies such as AI, ML, and others will further restrain the development of the market during the forecast period.
Rising Importance on Advanced AI Chipsets by Key Players to Intensify Competition
Companies such as IBM Corporation, Google LLC, Intel Corporation, Xilinx, Inc., Samsung Electronics Co., Ltd., and Micron Technology, Inc. are constantly developing new technologies to remain at the forefront. Players are focused on developing AI chipsets with advanced technology such as cloud, big data, and others to strengthen their portfolio and financially grow. Also, the high competition in the market is forcing service providers to emphasize acquisition strategy for strengthening their position in the market. Prominence on product innovation to offer cost-effective solutions will further enable speedy expansion of the market.
The Report Lists the Key Players in the Artificial Intelligence (AI) Chipsets Market:
Further Report Findings:
The Global Market for AI Chipsets is Segmented into:
2016 – 2027
2020 – 2027
2016 – 2018
Value (USD billion)
By Chipset Type
By Computing Technology