According to the latest report by IMARC Group, title “Machine Learning Chip Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027“, the global machine learning chip market reached a value of US$ 5.86 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 33.02 Billion by 2027 exhibiting a CAGR of 31.20% during 2022-2027.
Machine learning (ML) refers to a branch of artificial intelligence (AI) that makes decisions through experiential learning instead of programming. ML chips are installed to improve design, tool flows, and intellectual property cores. They consist of three components, namely networking, storage, and computing. Some of the commonly available ML chips include application-specific integrated circuits (ASICs), field-programmable gate arrays (FPGAs), and graphics processing units (GPUs). They help automate device tuning and routing to enhance power, performance, and area (PPA) outcomes through ML, analytics, and optimization. As a result, ML chips find extensive applications in the manufacturing, automotive, media and advertising, transportation, and finance industries for error prevention and cost-saving purposes.
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Machine Learning Chip Market Trends:
The global machine learning chip market is primarily driven by the rising utilization of AI in numerous industry verticals. Moreover, the shifting inclination from central processing units (CPUs) toward graphics processing units (GPUs) for simultaneously performing various complex tasks due to rapid expansion in the gaming industry is positively influencing market growth. Additionally, the increasing demand for smart homes and the rising number of machine learning (ML) applications are other major growth-inducing factors. Besides this, the surging adoption of smart infrastructure in corporate organizations and the launch of smart city projects have catalyzed market growth. Other factors, including the emergence of quantum computing and the Internet-of-Things (IoT), increasing development of human-like robots, and rising digitization, are also anticipated to propel the market growth in the coming years.
Key Market Segmentation:
The report has been segmented the market into following categories:
Breakup by Technology:
- System-on-Chip (SoC)
- System-in-Package
- Multi-chip Module
- Others
Breakup by Chip Type:
- GPU
- ASIC
- FPGA
- CPU
- Others
Breakup by Industry Vertical:
- BFSI
- IT and Telecom
- Media and Advertising
- Retail
- Healthcare
- Automotive
- Others
Breakup by Geography:
- North America
- Asia Pacific
- Europe
- Latin America
- Middle East and Africa
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List of Key Companies Covered in this Market Report:
The major players in the market are Advanced Micro Devices Inc., Amazon Web Services Inc. (Amazon.com Inc.), Cerebras Inc., Google LLC, Graphcore, Intel Corporation, International Business Machines Corporation, NVIDIA Corporation, Qualcomm Incorporated, Samsung Electronics Co. Ltd. and Taiwan Semiconductor Manufacturing Company Limited.
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About IMARC Group:
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IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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