July 20, 2020, Valsad, India – According to the study published by Evolve Business Intelligence, the Artificial intelligence (AI) chip market is anticipated to grow at a CAGR of 43.3% from 2020 to 2027. The AI chip market is expected to reach $114.2 billion by 2027. Some of the major factor impacting the overall growth of artificial intelligence chip market include, increasing penetration of edge AI application, and favorable government policies for the AI-based startups and R&D.
According to Evolve Business Intelligence “the recent COVID scenario is expected to reduce the overall investments in AI. However, it is still a common belief that AI will improve the overall development index of a country and the investment will start flowing once. Further, increasing security threats particularly in the AI-based chatbox might require a stronger AI-based security system. This is expected to contribute to the growth in the AI chip market.”
NVIDIA to hold the highest market share in Reception Robotics
The Artificial Intelligence chip market has witnessed several new additions to the number of players offering the product with multiple China-based startups. Some of these startups are Cambricon Technologies, ChipIntelli, Lynxi Technologies, ThinkForce, and WITINMEN. NVIDIA with the prime focus on GPU is expected to continue hold highest market share during the forecast period.
The AI chip market report published today include market revenue generated through the sale of AI-based chipset types such as GPU, CPU, ASIC and FPGA. The report also includes the analysis of the market on the basis of end use industry such as, Media & Advertising, BFSI, IT & Telecom, Retail, Healthcare, and Automotive & Transportation, among others.