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The Global Artificial Intelligence Chip Market size is expected to reach $10.8 billion by 2023, rising at a market growth of 53.6% CAGR during the forecast period. Artificial Intelligence is a fast-evolving technology and industry leaders are investing into the technology to gain higher market share within a competitive market space. The AI systems consist of software and also require high-end hardware functionality to support calculations. Therefore, market participants are working on building custom chips, designed to support AI development. Therefore, market participants are working on building custom chips, designed to support AI development. Google is the best example, where the company has designed an ASIC or application-specific integrated circuit, which is specifically used in deep neural nets, an AI technology that would revolutionize internet services. It is a network of hardware and software that is capable of learning specific tasks by analyzing vast data sets. Despite being a powerful technology, ASIC can only perform one function really well. Channing functions in ASIC would mean, redesigning another chip.
Based on Technology, the market report segments the market into FPGA, ASIC, CPU, and GPU. Based on Vertical, the market report segments the market into BFSI, Government, Retail & Ecommerce, Automotive, Media & Entertainment, and Others. Based on Regions, the Artificial Intelligence Chip market segments the market into North America, Europe, Asia Pacific, Latin America, Middle East and Africa. The market research report covers the analysis of key stake holders of the Artificial Intelligence Chip Market.
Key companies profiled in the report include Google, Inc., Advanced Micro Devices, Inc., Intel Corporation, Nvidia Corporation, Baidu, Inc., Graphcore Ltd., Qualcomm Incorporated, Adapteva, Inc., Microsoft Corporation, and IBM Corporation.