Artificial Intelligence Chip Market to Reach $194.9 Bn, Globally, by 2030 at 37.4% CAGR: AMR

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Allied Market Research recently published a report, titled, “Artificial Intelligence Chip Market by Chip Type (GPU, ASIC, FPGA, CPU, and Others), Application (Natural Language Processing (NLP), Robotics, Computer Vision, Network Security, and Others), Technology (System-on-chip, System-in-package, Multi-chip Module, and Others), Processing Type (Edge and Cloud), and Industry Vertical (Media & Advertising, BFSI, IT & Telecom, Retail, Healthcare, Automotive & Transportation, and Others): Global Opportunity Analysis and Industry Forecast, 2021–2030”. As per the report, the global artificial intelligence chip industry was accounted for $8.02 billion in 2020, and is expected to reach $194.9 billion by 2030, growing at a CAGR of 37.4% from 2021 to 2030.

Drivers, restraints, and opportunities

Rise in need for smart homes & smart cities, advent of quantum computing, and surge in investments in AI startups drive the growth of the global artificial intelligence chip market. However, dearth of skilled workforce hinders the market growth. On the contrary, development of smart robots and rise in adoption of AI chips in the developing regions would open new opportunities for the market players in the future.

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Covid-19 scenario:

  • The Covid-19 pandemic resulted in sudden decline in development of artificial chip across the globe, especially in China, the U.S., and across Europe. This made a negative impact on product sales.
  • The prolonged lockdown across the globe disrupted the supply chain and increased the prices of raw materials.

The CPU segment held the largest share

By chip type, the CPU segment held the largest share in 2020, accounting for nearly two-fifths of the global artificial intelligence chip market, due to ability of CPU to process sequential code. However, the ASIC segment is expected to register the highest CAGR of 39.8% during the forecast period, owing to increase in investment and low cost of production, less power consumption, reduced footprint, and increased reliability of ASIC chips.

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The natural language processing segment dominated the market

By application, the natural language processing segment held the lion’s share in 2020, contributing to more than one-fourth of the global artificial intelligence chip market, due to rise in demand for chatbots and online channels such as Facebook Messenger, Skype, Slack, and others that use NLP to analyze user messages and conversational logic. However, the robotics segment is estimated to manifest the highest CAGR of 41.4% from 2021 to 2030, as it increases employee satisfaction, productivity, and engagement.

North America held the largest share

By region, the market across North America dominated in 2020, holding more than one-third of the market, due to advancements in sensory technologies, increase in applications of deep learning, and need for large internet-enabled data sets. However, the global artificial intelligence chip market across Asia-Pacific is projected to portray the highest CAGR of 41.3% during the forecast period, owing to adoption of new technologies and increase in appeal for online videos and smartphones.

Major market players

  • Advanced Micro Devices
  • NXP Semiconductors N.V.
  • Apple
  • Intel Corporation
  • Analog Devices, Inc.
  • NVIDIA Corporation
  • Mediatek, Inc.
  • Microsemi Corporation
  • Qualcomm Incorporated