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AI Chip Market worth $311.58 billion by 2029 – Exclusive Report by MarketsandMarkets™

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CHICAGO, Aug. 20, 2024 /PRNewswire/ — The AI Chip Market is projected to grow from USD 123.16 billion in 2024 and is estimated to reach USD 311.58 billion by 2029; it is expected to grow at a Compound Annual Growth Rate (CAGR) of 20.4% from 2024 to 2029 according to a new report by MarketsandMarkets™. AI chips have emerged as the epitome of technological growth. The growing emphasis on parallel computing in Al data centers is bound to drive innovation across industries such as BFSI, Healthcare, Retail, and E-commerce. Moreover, the growth in AI server shipment is likely to fuel the demand for AI chips. Moreover, the growth of the market is attributed to growing adoption of industrial robotics and automation that rely on AI capabilities.

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Browse in-depth TOC on “AI Chip Market” 100 – Tables50 – Figures210 – Pages
AI Chip Market Report Scope:
Report Coverage
Details
Market Revenue in 2024
$ 123.16 billion
Estimated Value by 2029
$ 311.58 billion
Growth Rate
Poised to grow at a CAGR of 20.4%
Market Size Available for
2020–2029
Forecast Period
2024–2029
Forecast Units
Value (USD Million/Billion)
Report Coverage
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered
By Offerings, Memory, Network, Function & Region
Geographies Covered
North America, Europe, Asia Pacific, and Rest of World
Key Market Challenge
Addressing delivery delays due to supply chain disruptions
Key Market Opportunities
Planned investments in data centers by cloud service providers
Key Market Drivers
Increasing adoption of AI servers by hyperscalers
By technology, the natural language processing segment is projected to grow at a significant CAGR of the AI Chip market during the forecast period.
The segment for natural language processing technology is expected to grow at a significant rate from during the forecast period. Applications, such as chatbots, virtual assistants, language translation services, sentiment analysis, and text analytics, all need NLP in processing and understanding human languages. Since the application is very wide, huge demand has been created for the powerful AI chips that could handle extensive computational requirements for NLP tasks, hence driving growth in the AI chip market. From the invention of large-scale language models like GPT-4 and BERT, complexity and size for NLP models increased. For instance, last May 2024, OpenAI released GPT-40, which is capable of reasoning on text, video, and audio in real-time; deployment in applications from content generation to virtual assistants underlines the fast-rising demand for AI chips supporting NLP.
By offering, the memory segment is projected to grow at a significant rate during the forecast period.
The memory segment is expected to grow at the high CAGR during the forecast period. There is a rapid growth in AI applications due to which there is increase in data generation and processing requirements. This increase in data volumes leads to increasing demand for advanced memory solutions such as High Bandwidth Memory (HBM), and DDR5 which are capable of storing and accessing large amounts of data efficiently. AI applications involving machine learning and deep learning require high-speed processing capabilities and rapid data access. Dynamic Random-Access Memory (DRAM) supports the need for faster computational performance with increasing complexity of AI algorithms. Advancements in DRAM such as shift to DDR5 provides high data transfer rate and improved energy efficiency. For instance, in May 2024, Micron Technology, Inc. (US) launched 32GB server DRAM with 128GB DDR5 memory that provides 22% better energy efficiency, 45% better bit density, and offers a speed of 5,600 MT/s on server platforms. The high-speed memory module is designed to support the most critical data center applications, such as artificial intelligence, machine learning, in-memory databases, high-performance computing, and efficient processing. Improvements in these technologies for memory solutions driving the workload of AI are drivers for the adoption of DRAM solutions and fuel memory segment growth.
The Healthcare segment is projected to grow at a high CAGR of the AI Chip market during the forecast period.
The adoption rate for AI chips in healthcare is currently on the rise. The medical institutions and technology companies have started spurring advanced AI capabilities for improved diagnostics, treatment planning, and personalized medicine. In this respect, the adoption of AI chips in the development of large language models and other AI-driven medical applications has totally revolutionized health sectors in terms of their enabling more accurate and timely medical interventions. In October 2022, Cerebras announced it was partnering with the Mayo Clinic to develop large language models for medical applications. They created the Rheumatoid Arthritis diagnostic model using the Cerebras CS-2 to integrate patient records, DNA data, and drug information to pair patients with the most effective therapeutics. Such AI chips would thus be most critical in furthering personalized medicine, in which treatment plans are tailored for a unique genetic and medical profile for each patient, within the processing of these vast data sets and intricate algorithms.
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Noth America is poised for high growth in the AI Chip market by 2029.
The US, Canada, and Mexico are the major contributors to the North American AI chip industry. North America is a dominant contributor to the AI chip market in terms of market share. The AI chip manufacturers in North America collaborate with industry partners, research institutions, and government agencies to expand market reach and drive technological innovation. These players are participating in strategic alliances to accelerate the adoption of AI chips technology in emerging sectors thus supporting the market growth in North America. Leading companies in North America, such as Qualcomm Technologies, Inc. (US), Advanced Micro devices, Inc. (AMD) (US), Intel Corporation (US), Google (US), provide AI chips for data centers and various industries. These companies significantly invest in R&D to improve the reliability, performance, and efficiency of AI Chip technology. This includes advancements in manufacturing processes and design techniques to meet the evolving demands of different industries in the region. Extensive focus of regional players in new product development and innovations will boost the AI chip market growth across North America over the forecast timeline.
Key Players
Key companies operating in the AI Chip companies are NVIDIA Corporation (US), Advanced Micro Devices, Inc. (AMD) (US), Intel Corporation (US), Micron Technology, Inc. (US), Google (US), Qualcomm Technologies, Inc. (US), Apple Inc. (US), Huawei Technologies Co., Ltd. (China), SK Hynix Inc. (South Korea), Samsung (South Korea), Imagination Technologies (UK), Graphcore (UK), and Cerebras (US).
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Browse Adjacent Market: Semiconductor and Electronics Market Research Reports &Consulting
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About MarketsandMarkets™
MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
Earlier this year, we made a formal transformation into one of America’s best management consulting firms as per a survey conducted by Forbes.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.
Contact: Mr. Rohan SalgarkarMarketsandMarkets™ INC. 630 Dundee RoadSuite 430Northbrook, IL 60062USA: +1-888-600-6441Email: [email protected] Our Web Site: https://www.marketsandmarkets.com/Research Insight: https://www.marketsandmarkets.com/ResearchInsight/artificial-intelligence-chipset-market.aspContent Source: https://www.marketsandmarkets.com/PressReleases/ai-chipset.asp
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Artificial Intelligence

GEEKOM releases a perfect mini PCs with dual 2.5Gbps Ethernet ports – GEEKOM GT1 MEGA

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56 mins ago

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September 20, 2024

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TAIPEI, Sept. 20, 2024 /PRNewswire/ — GEEKOM, a Taiwanese tech company also known as the Green Mini PC Global Leader, recently released a strong lineup of flagship mini PCs with Intel Core Ultra processors and dual Ethernet ports, making it possible for users to enjoy impeccable performance and superb networking functionalities at the same time.

One of these mini PCs is the GEEKOM GT1 Mega, which employs a beautiful aluminum chassis with plenty of I/O, including two full-function 40Gbps USB4 Type-C, six USB Type-A, 2 HDMI2.0, a 3.5mm audio jack, an SD card reader and dual Ethernet ports. The two Ethernet jacks are both of 2.5Gbps standard, which not only delivers high-speed and reliable internet connection for people’s daily computing chores, but also enables the mini PC to serve more sophisticated networking functionalities as a soft router, a virtual machines, a hardware firewall, or even a home server. Besides, dual Ethernet ports can separate internal and external network connections, providing logical and physical separation of trusted and untrusted network traffic and keeping data safe from potential cyber-attacks.
The GT1 Mega is powered by Intel’s latest and smartest Core™ Ultra processor (up to CoreTM U9-185H) and dual-channel DDR5-5600MHz RAM. Thanks to the new CPU, GPU, and NPU three tier multi-processing architecture, the mini PC is ready to harness the superpowers of Artificial Intelligence. It is compatible with more than 500 AI models across 20+ categories and supports high-performance low-power processing in a wide range of computing scenarios, which include enhancing facial features and blurring the background during video calls, removing the vocals from songs to create karaoke tracks, and generating large-scale images based on texts or voice commands. Basically, the GT1 Mega allows users to finish tasks that used to take hours or even days through only a few keystrokes!
The GEEKOM GT1 Mega,is now available on GEEKOM’s official website.
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Artificial Intelligence

Lucinity Partners with Sift for Unified Fraud and AML Case Management

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September 19, 2024

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SAN FRANCISCO, Sept. 19, 2024 /PRNewswire/ — Lucinity and Sift have announced a partnership, unifying fraud and Anti-Money Laundering (AML) into Lucinity’s integrated FinCrime compliance platform for case management, agent-enabled workflow automation, and Generative AI.

Sift is an AI-powered fraud platform securing digital trust for leading global businesses. Its Global Data Network analyzes more than 1 trillion events and identity signals per year to prevent fraud across the entire consumer journey. Lucinity and Sift formed this new partnership to address the challenges of fragmented fraud and AML systems, aiming to centralize and enhance financial crime investigations.
Sift’s AI-powered solution will now be integrated into Lucinity’s platform. This collaboration enhances Lucinity’s ability to provide a seamless and efficient compliance solution. It allows teams to review and manage fraud alerts more effectively through Lucinity’s unified Case Management system, thanks to the native integration between the systems. Key benefits to Lucinity’s users include:
Real-Time Fraud Screening: Payments are screened for potential fraud in real time, utilizing Sift’s fraud detection capabilities.Automatic Payment Holds: Payments suspected of fraud are temporarily held, ensuring verification before processing.Streamlined Reviews: Compliance teams can conduct thorough reviews of flagged payments within Lucinity’s Case Management solution.Risk Level Adjustments: Fraud detection parameters can be customized to adjust sensitivity levels, adapting to emerging fraud trends and risk appetites.This partnership also enables users to leverage Lucinity’s Generative AI capabilities through the Luci copilot to investigate fraud cases more efficiently.
Udi Nessimyan, President and Chief Revenue Officer of Lucinity, comments, “One of the greatest challenges in fighting financial crime is fragmented systems and data. Our partnership with Sift helps address this challenge by providing a centralized platform for various case types, including AML, fraud, sanctions, and ad hoc cases. Our collaboration significantly enhances the productivity of investigation teams, reducing the time spent on cases from hours to minutes.”
Sift’s Chief Marketing Officer, Armen Najarian, emphasizes the collaborative effort to enhance financial crime prevention, stating, “Cybercriminals are increasingly leveraging AI to bypass traditional anti-money laundering and fraud controls, creating sophisticated and dynamic threats. To combat these evolving risks, companies must adopt a ‘fight fire with fire’ approach by leveraging AI-powered solutions. Through Sift’s partnership with Lucinity, businesses can stay ahead of fraudsters, ensuring robust protection against abuse and enabling fearless growth.”
About Sift: https://sift.com About Lucinity: https://lucinity.com
Media contact:Celina [email protected] +354 792 4321

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Employee Background Check Software Market Size to Grow USD 828.8 Million by 2030 at a CAGR of 4.9% | Valuates Reports

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September 19, 2024

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BANGALORE, India, Sept. 19, 2024 /PRNewswire/ — Employee Background Check Software Market is Segmented by Type (Cloud-Based, On Premises), by Application (SMEs, Large Enterprises): Global Opportunity Analysis and Industry Forecast, 2024-2030.

The Global Employee Background Check Software Market was valued at USD 587 Million in 2023 and is anticipated to reach USD 828.8 Million by 2030, witnessing a CAGR of 4.9% during the forecast period 2024-2030.
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Major Factors Driving the Growth of Employee Background Check Software Market:
The employee background check software market is growing due to increasing demands for secure hiring processes and regulatory compliance, especially in industries such as finance, healthcare, and IT. As companies look to reduce risks associated with fraud, legal liabilities, and workplace safety, background checks are becoming a critical part of recruitment processes. The rise of remote work has further accelerated the need for digital solutions. However, challenges include concerns over data privacy and varying legal frameworks across regions, which may slow adoption in some areas.
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TRENDS INFLUENCING THE GROWTH OF THE GLOBAL EMPLOYEE BACKGROUND CHECK SOFTWARE MARKET:
Cloud-based background check software is gaining traction due to its scalability, remote access, and cost-effectiveness. With cloud-based systems, businesses can streamline their hiring processes, particularly when operating across multiple locations. The ability to access data and conduct checks in real-time is highly valuable for organizations managing large workforces or remote employees. The flexibility and lower upfront investment of cloud-based solutions make them popular among businesses seeking efficient and adaptable systems for their recruitment processes.
On-premises solutions remain important for organizations with strict security and data control requirements, such as those in government, defense, or finance. These companies often need complete ownership of their data, which on-premises software offers, reducing the risk of external breaches. Although it requires significant upfront investment and maintenance, on-premises software provides a high level of customization and security. It’s especially useful for businesses dealing with sensitive information and industries where compliance with local data protection laws is critical.
Large enterprises, particularly those operating in regulated industries like banking and healthcare, are the major adopters of employee background check software. These organizations deal with large volumes of hires, making streamlined background checks essential for compliance and operational efficiency. The ability to integrate background check systems with existing HR tools, such as applicant tracking systems, allows large companies to manage their recruitment processes more effectively. The need for comprehensive and accurate background checks is crucial for mitigating risk and ensuring legal compliance.
The rise in remote working has increased the demand for background check software that allows companies to vet employees regardless of their location. Digital background checks, particularly cloud-based ones, make it easier for organizations to screen remote workers efficiently. This trend is expected to continue as more companies adopt hybrid or fully remote work models, where geographical barriers no longer restrict talent acquisition but require thorough and remote-friendly verification processes.
As regulatory frameworks for employment practices become more stringent globally, businesses are increasingly relying on background check software to ensure compliance. Laws like the General Data Protection Regulation (GDPR) in Europe and the Fair Credit Reporting Act (FCRA) in the U.S. have made it mandatory for companies to conduct background checks within specific legal parameters. This has led to increased demand for software solutions that can automate these processes while maintaining compliance with regional and international laws.
A major trend in the employee background check software market is the integration of these solutions with human resources management systems (HRMS). Integrating background checks with HR software streamlines the hiring process by consolidating background checks, employee records, and onboarding into one system. This improves operational efficiency for businesses, particularly large enterprises that handle significant recruitment volumes. Integration with HRMS allows for real-time updates, making background screening an even more integral part of the hiring process.
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EMPLOYEE BACKGROUND CHECK SOFTWARE MARKET SHARE
North America dominates the market due to stringent employment regulations and widespread adoption across industries. Europe is another key region, driven by GDPR compliance and demand in finance and healthcare. The Asia-Pacific region is experiencing rapid growth due to increasing awareness of the importance of background checks, especially in countries like China and India, where digital hiring platforms are becoming more popular. The market is also expanding in the Middle East and Africa as businesses prioritize secure hiring practices.
Key Companies:
HireRightGoodHireCheckrSterlingHireologyINTELIFIGood EggPeopleG2VitayCertnGlobal HR ResearchVeritable ScreeningXrefZincPaycomADPVICTIGIntelliCorp (Cisive)SpringVerifyAsurintUniversalAssureHireVerified FirstHireSafePurchase Chapters: https://reports.valuates.com/request/chaptercost/QYRE-Auto-2A10579/Global_Employee_Background_Check_Software 
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DISCOVER MORE INSIGHTS: EXPLORE SIMILAR REPORTS!
–  Employer of Record Services market was valued at USD 128.2 Million in 2023 and is anticipated to reach USD 196 Million by 2030, witnessing a CAGR of 6.8% during the forecast period 2024-2030.
–  Employee Engagement Platform market was valued at USD 805 Million in 2023 and is anticipated to reach USD 2217.4 Million by 2030, witnessing a CAGR of 15.5% during the forecast period 2024-2030.
–  Employee Advocacy Platforms market was valued at USD 533 Million in 2023 and is anticipated to reach USD 1020.8 Million by 2030, witnessing a CAGR of 9.7% during the forecast period 2024-2030.
–  Employee Feedback Software market is projected to grow from USD 499.5 Million in 2024 to USD 1287.8 Million by 2030, at a Compound Annual Growth Rate (CAGR) of 17.1% during the forecast period.
–  Employee Productivity Tracking Software market is projected to reach USD 311.8 Million in 2029, increasing from USD 219 Million in 2022, with the CAGR of 5.2% during the period of 2023 to 2029.
–  Employee Feedback Software market is projected to grow from USD 499.5 Million in 2024 to USD 1287.8 Million by 2030, at a Compound Annual Growth Rate (CAGR) of 17.1% during the forecast period.
–  Employee Rewards and Recognition Software Market
–  Employee Productivity Monitoring Software Market
–  Employee Recognition Software market was valued at USD 2247 Million in 2023 and is anticipated to reach USD 4186.4 Million by 2030, witnessing a CAGR of 8.9% during the forecast period 2024-2030.
–  Employee Lockers Market
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