LONDON–(BUSINESS WIRE)–The global artificial intelligence (AI) chips market size is expected to grow by USD 54.03 billion during 2020-2024. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. We expect the impact to be significant in the first quarter but gradually lessen in subsequent quarters – with a limited impact on the full-year economic growth. Request a free sample report
The growth in the generation of large volumes of data has increased the deployment of data centers across the world. As data centers process massive amounts of data, the need for improving their efficiency and reducing operational costs has become imperative. Hence, data center operators are increasingly adopting AI technologies to improve energy efficiency, infrastructure management, server optimization, security, and others. This is encouraging market vendors to introduce AI chips specifically designed for data center applications, which is driving the growth of the market.
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As per Technavio, the convergence of IoT and AI will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.
Artificial Intelligence (AI) Chips Market: Convergence of IoT and AI
IoT device manufacturers are integrating HMI technologies in devices such as cameras, drones, smart speakers, smartphones, smart TVs, and others. This has created the need for integrating AI chips in these devices to make real-time decisions. With the growing number of smart city projects and smart homes, the adoption of IoT devices will increase significantly during the forecast period. This will have a positive impact on the growth of the global artificial intelligence (AI) chips market.
“Increasing investments in AI start-ups and the growing advances in the quantum computing market will have a significant impact on the growth of the artificial intelligence market value during the forecast period,” says a senior analyst at Technavio.
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Artificial Intelligence (AI) Chips Market: Segmentation Analysis
This market research report segments the artificial intelligence chips market by product (GPUs, ASICs, CPUs, and FPGAs) and geography (North America, Europe, APAC, South America, and MEA).
The North American region led the artificial intelligence chips market share in 2019, followed by Europe, APAC, South America, and MEA respectively. During the forecast period, the North American region is expected to register the highest incremental growth due to the increasing investments in autonomous vehicles, and artificial intelligence technology.
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Some of the key topics covered in the report include:
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
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