According to the latest report by IMARC Group, titled "Machine Learning Chip Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028," the global machine learning chip market size reached US$ 7.8 Billion in 2022. A machine learning (ML) chip is a microprocessor or integrated circuit (IC) designed to perform ML tasks. It is optimized for the computational requirements of deep learning and other ML algorithms, which involve processing a large amount of data and making complex calculations to identify patterns and make predictions. It comprises specialized hardware like tensor processing units (TPUs) that can accelerate the execution of mathematical operations that are common in ML tasks. It assists in improving the performance area results through ML, power, optimization, and analytics.
Global Machine Learning Chip Market Trends:
ML chip finds application in the automotive industry to enhance the performance and safety of the vehicles. It is used in driver assistance systems, including adaptive cruise control and lane departure warnings, to identify and respond to changes in the environment, such as the presence of other vehicles and obstacles. This, coupled with the increasing sales of autonomous and self-driving vehicles on account of rapid urbanization and inflating income levels, represents one of the key factors augmenting the growth of the market around the world. Moreover, the rising integration of ML chip with artificial intelligence (AI), big data, the internet of things (IoT), and natural language processing (NLP) to provide better insights and more accurate predictions is contributing to the market growth. Apart from this, the growing usage of ML chip in the e-commerce sector to improve customer experience, increase sales, and optimize supply chain management is creating a positive outlook for the market. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 35.0 Billion by 2028, exhibiting a CAGR of 25.4% during 2023-2028.
- On the basis of the technology, the market has been segmented into system-on-chip (SoC), system-in-package (SIP), multi-chip module, and others. Presently, system-on-chip (SoC) holds the largest market share.
- Based on the chip type, the market has been segregated into GPU, ASIC, FPGA, CPU, and others. GPU currently accounts for the biggest market share.
- Based on the industry vertical, the market has been classified into BFSI, IT and telecom, media and advertising, retail, healthcare, automotive, and others. BFSI currently represents the biggest market segment.
- Region wise, the market has been divided into North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. Amongst these, North America (the United States and Canada) enjoys the leading position in the market.
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market. Some of the key players include 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.
|Base Year of the Analysis
||Technology, Chip Type, Industry Vertical, Region
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||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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