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The global market share for AI chipsets is being dramatically increased by the rise in demand for intelligent consumer electronics products

Wilmington, Delaware, United States, July 31, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The global market for artificial intelligence chipset was estimated to have acquired a market valuation of around US$ 45.5 billion in 2021. The market is likely to garner a robust 31.8% CAGR from 2022 to 2031 and by 2031, the market is likely to gain US$ 717.4 billion.

Smart gadgets that are being utilized in daily life are becoming more and more common. During the forecast period, growth in the market is projected to be driven by an increase in demand for AI chips within consumer electronics products, including as high-end mobile devices, tablets, intelligent speakers, and wearables.

Leading smartphone companies are working to create AI-based devices that use less power and can do up to 5 trillion processes per second. AI image recognition is even being used to enhance the quality of photos.

General-purpose CPUs struggle to manage the growing volume of data created by smart devices for AI applications. ASIC and GPU chips are therefore utilized in AI applications. ASICs integrate established algorithms and are created for certain purposes, such as artificial intelligence or cloud computing.

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Market Snapshot:

Report Coverage

Details

Market Revenue

US$ 45.5 Bn

Estimated Value

US$ 717.4 Bn

Growth Rate - CAGR

31.8%

Forecast Period

2023-2031

No. of Pages

178 Pages

Market Segmentation

By Type, By Placement, By Distribution Channel

Regions Covered

North America, Europe, Asia Pacific, Middle East & Africa, South America

Companies Covered

Chipset Type, Deployment, Application, End-use Industry

Key Findings of the Market Report

Story continues

Market Trends for Artificial Intelligence Chipsets

Consumer goods including smartphones, computers, tablets, smart home appliances, smart speakers, as well as cameras are increasingly using AI processors.

General-purpose chips that are capable of being used in robots, washing machines, vacuum cleaners, and freezers are being developed by businesses.

Artificial intelligence (AI) semiconductor chips have been created to improve user experience. During the projection period, market statistics are anticipated to be driven by an increase in consumer electronics demand.

Home appliance producers are concentrating on creating cutting-edge items to meet the growing customer demand. They are working to create their own chips to lessen their dependency on other parties for supply chain reliability. For example, the Midea Group founded the Shanghai Meiren Semiconductor Co Ltd subsidiary, which engages in the design, manufacture, and marketing of intelligent power module chips alongside micro control unit chips utilized in electrical control systems, allowing the producer of home appliances to compete in the AI chip market.

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Global Artificial Intelligence Chipset Regional Market Outlook

During the projected period, North America is anticipated to lead the worldwide market. The United States is predicted to have considerable growth potential in the next years due to the growing use of electronic design automation (EDA) technologies to create cutting-edge AI hardware.

The biggest markets for consumer electronics and automobiles are in Asia Pacific. In terms of manufacturing and the use of lower-edge nodes to produce AI hardware, China complies with the lead of the United States.

Global Artificial Intelligence Chipset: Key Players

A number of significant AI software firms are working to create their own AI chips to maximize their uses. In the near future, this is anticipated to greatly increase market competitiveness. Numerous vendors, including new and established companies, are actively developing and selling AI chipsets.

Some manufacturers of AI chipsets are placing a strong emphasis on integrating neural networks into their AI hardware. Some of the top players within the global artificial intelligence chipset market are Alphabet, NVIDIA Corporation, Intel Corporation, IBM, Apple, Huawei, MediaTek, Google, Intel, Baidu, and Graphcore. Some developments by the key players in the global market for artificial intelligence chipsets are:

In 2023, AMD introduced new mobile CPUs as well as GPUs, featuring the first x86 PC CPU with a specialized AI engine. AMD also introduced a new 3D stacked desktop CPU with exceptional gaming performance at CES 2023, as well as a data center APU and an AI inference accelerator.

In 2022, MediaTek introduced the Dimensity 1080. It is the most recent chipset available for 5G smartphones within the Dimensity range. Compared to the Dimensity 920, it had superior performance and updated camera functions.

In 2022, the National Institute of Standards and Technology (NIST) of the United States Department of Commerce inked a joint research and development agreement alongside Google to create and manufacture chips for novel semiconductors as well as nanotechnology devices.

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Global Artificial Intelligence Chipset Market Segmentation By Chipset Type

By Deployment

Cloud-based AI Chips

Edge-based AI Chips

By Application

By End Use Industry

Automotive

IT and Telecommunication

Healthcare

Consumer Electronics

BFSI

Industrial

Others

By Region

North America

Europe

Asia Pacific

Middle East & Africa

South America

About Transparency Market Research

Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants use proprietary data sources and various tools & techniques to gather and analyses information.

Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.

Contact:

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Global Market for Artificial Intelligence Chipset Anticipated to Surpass US$ 700 billion, Rising at a CAGR of 31.8% from 2022 to 2031: TMR study -...