Continuous demand for enhancing the efficiency of a task and eliminating the need of human at hazardous places by replacing humans with robots efficient enough to implement tasks by themselves, as a result, is impelling the demand for artificial intelligence technology. Owing to this demand, various vendors with advanced technologies are investing for implementing artificial intelligence chips in various devices.
Chips which are technologically advanced enough to perform machine learning tasks are generally termed as artificial intelligence chips.
The market of artificial chips is, comparatively, niche and still in development stage, owing to the lack of the complexities associated with the implementation of artificial chips. This poses a high growth opportunity for various vendors (participating in the same market), to expand their business, keeping the demand for artificial intelligence chips and artificial intelligence technology in mind.
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Artificial Intelligence Chip, as still in development stage, has didn’t witness much penetration in the past 4 years but is expected to witness a boom during the forecast period, owing to the continuous advancements in technology and increasing investments for the implementation of artificial intelligence.
Artificial Intelligence Chip Market: Market Dynamics
Increasing investments for the implementation of artificial intelligence chips in robot industry with an aim of launching more human-like robots in considered to be the primary factor fueling the growth of artificial intelligence market, in terms of revenue. In addition to this, replacement of these bots with humans at hazardous places is also a driving factor for the artificial intelligence chips market. Furthermore, increasing demand for smart appliances, smart cities, efficient output and an enhanced experience are also proliferating the implementation of artificial intelligence chips in various products and appliances.
However, issues such as, lack of skilled labor and complexities associated with the implementation of artificial intelligence chip are expected to hinder the growth of artificial intelligence chip networks.
Artificial Intelligence Chip Market: Segmentation
Global artificial intelligence chip market can be segmented on the basis of product type, and region
Segmentation for artificial intelligence chip market by product type:
On the basis of product type, artificial intelligence chip market can be segmented as:
Artificial Intelligence Chip Market: Key Players
Some of the key players in the artificial intelligence chip market are Advanced Micro Device (AMD), Intel, NVIDIA, Google, Amazon (development stage), ARM, Qualcomm, Graphcore, Mythic and Apple,
Many vendors are still in the development stage but are aiming at expanding their business, owing to the growth opportunities associated with artificial intelligence chips market. For instance, In February 2018, ARM launched two artificial intelligence chips for assisting businesses in the manufacturing process of machine learning-powered gadgets. In February 2018, Amazon unveiled its investment plan of manufacturing its own artificial intelligence chip, with an aim of enhancing the features and performance of Alexa.
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Artificial Intelligence Chip Market: Regional Overview
By geography, artificial intelligence chip market can be segmented across North America, Latin America, Western Europe, Eastern Europe, China, Japan, SEA and others in Asia Pacific, and Middle East & Africa. Among these regions, North America is expected to dominate the global artificial intelligence chip market during the forecast period, owing to increasing experimentation for the implementation and adoption of artificial intelligence chips, in the region. U.S. is expected to hold the major share in North America artificial intelligence chip market, throughout the forecast period, because of the presence of technologically strong vendors and skilled labor, in the country. However, China is expected to exhibit the highest growth rate, during the forecast period.