Artificial Intelligence (AI) Chipsets Market: Surge in Inference Applications Drives 37.1% CAGR by 2031 | SkyQuest Technology

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Jul 10, 2024, 10:10 ET

WESTFORD, Mass., July 10, 2024 /PRNewswire/ -- According to SkyQuest, the global Artificial Intelligence (AI) Chipsets Market size was valued at USD 15.36 billion in 2022 and is poised to grow from USD 21.05 billion in 2023 to USD 262.78 billion by 2031, growing at a CAGR of 37.1% during the forecast period (2024-2031).

The market is driven by increased data availability and the need for more computing power. The increasing adoption of autonomous vehicles and parallel computing in AI data centers is driving the increase in the use of chipsets and other. AI technologies in these industries. AI is becoming an integral part of consumer electronics, including everything. Along with this growth in the semiconductor industry comes new opportunities. The ability to handle increasing amounts of data is a key factor in growing the market size of AI chipsets. Artificial intelligence (AI) is creeping into almost every aspect of consumer electronics. Its usage is increasing beyond mobile phones along with the automotive industry.

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Artificial Intelligence (AI) Chipsets Market Overview:

Report Coverage	Details
Market Revenue in 2023	USD 21.05 Billion
Estimated Value by 2031	USD 262.78 Billion
Growth Rate	Poised to grow at a CAGR of 37.1%
Forecast Period	2024–2031
Forecast Units	Value (USD Billion)
Report Coverage	Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered	Hardware, Computing Technology, Technology, End User and Function
Geographies Covered	North America, Europe, Asia Pacific, Middle East & Africa, Latin America
Report Highlights	Updated financial information / product portfolio of players
Key Market Opportunities	Product Innovations in AI Chipsets Market Shaping the Future
Key Market Drivers	Growing Demand for Autonomous Vehicles

Segments covered in Artificial Intelligence (AI) Chipsets Market are as follows:

Hardware
- Processor (Graphic Processing Unit (GPU), Application-Specific Integrated Circuit (ASIC), Field Programmable Array (FPGA), Central Processing Unit (CPU), Digital Signal Processor (DSP), Microcontroller (MCU)), Memory, Network (Interconnects and Ethernet Adapters)
Computing Technology
- Edge AI Computing, Cloud AI Computing
Technology
- Machine Learning (Deep learning, Supervised Learning, Unsupervised Learning, Reinforcement Learning, and others), Natural Language Processing, Context-Aware Computing, Computer Vision, Predictive Analysis
End-User
- Consumer Electronics, Automotive and Transportation, Manufacturing, Agriculture, Retail, Healthcare, Cybersecurity, Human Resources, Marketing, Law, Fintech, Government, Others
Function
- Training and Inference

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Revolutionizing Computing: Cutting-Edge Technologies in AI Chipsets

Cloud AI computing had the largest market share in the AI chipset market by 2023, the year the technology was widely used in business-based chipset training. The driving forces behind the growth of the cloud-AI computing segment were as follows: 70% of companies access their AI capabilities through cloud-based software, and 65% of them access cloud services and AI applications.

In contrast, the Edge A.I. Most artificial chipsets running at the edge today are used for simulation, while artificial intelligence chipsets for edge are in early development Many big players compete in the market with AI chipsets in both cloud and edge, and it has used examples such as Google Inc, Baidu Inc, Graphcore Established and edge-driven for accounting for AI chipsets.

Empowering End-Users: The Reach of AI Chipsets Across Industries

Consumer electronics holds the largest marketplace proportion inside the marketplace by way of 2023. The emergence of AI-powered technologies has dramatically changed consumer electronics, formed consumer expectations, revolutionized commercial enterprise fashions and created new market channels. As people turn out to be accustomed to clever gadgets of their everyday life, expectancies and goals for convenient electronics develop schools, using power. It also emphasizes integrated systems harnessing the power of AI.

However, automobiles and transportation have made rapid advances in AI and its products. Furthermore, increased disposable income is directly related to the power of the consumer in the automotive industry. From that perspective, the automotive industry is booming and at the same time, it will increase the demand for AI chipsets. In addition to using AI chipsets in the automotive industry to make vehicles sense and react to their environment, which can improve safety and comfort. AI chipsets are used in vehicle systems, including advanced driver assistance systems (ADAS), autonomous driving and entertainment drives.

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Accelerating Innovation: The Future of AI Chipsets Market

The artificial intelligence (AI) chipsets market is evolving and changing at a rapid pace, driven by the growing demand for powerful and efficient computing solutions to support artificial intelligence. As businesses around the world embrace AI technologies, there's a huge need for specialized chipsets that are powerful AI. handle tasks quickly and efficiently.

Advances in semiconductor technology and continuous innovation in AI algorithms are the major drivers of the market. Companies are developing more advanced specialized AI chipsets, such as neural processing units (NPUs) and graphics processing units (GPUs), to meet the increasing computing needs of AI applications.

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