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Global Machine Learning Chip Market to Reach US$ 33.02 Billion by 2027, Impelled by Increasing Demand for AI in Various Industries

Published on Oct 25, 2022

According to the latest report by IMARC Group, titled "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. Machine learning (ML) is a part of artificial intelligence (AI), which generally operates on experiential learning, instead of programming for decision making. It uses algorithms and computational methods to teach computers to think about the way humans and animals may react in a particular situation. It can process massive amounts of data, identify the underlying patterns, interpret trends, and use the feed to achieve specific goals. Machine learning chips are installed for enhancing intellectual property cores. These help improve performance area results through ML, power, optimization and analytics. These chips are widely utilized for error prevention and cost-saving purposes across various industries, including automotive, transportation, manufacturing, media and advertising, and finance.

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

Global Machine Learning Chip Market Trends:

The global market is primarily driven by rapid digitalization. In line with this, the expansion of the information technology (IT) industry is significantly contributing to the market. Furthermore, the increasing number of cyber-attacks is encouraging enterprises to employ database management, fraud detection systems and cybersecurity, thus positively influencing the market. Apart from this, the growing integration of machine learning chips with big data analytics and cloud computing to offer enhanced services to various industries is catalyzing the market growth. Moreover, the shifting focus on developing human-aware AI systems is offering numerous growth opportunities to market players worldwide. Besides, the widespread prominence of artificial intelligence (AI) and the emergence of quantum computing are acting as other growth-inducing factors. Additionally, the development of autonomous robots that can function without human intervention is creating a positive outlook for the market. Other factors, including the expansion of smart homes and cities, the growing popularity of IoT, and the numerous efforts to develop human-like robots, are also providing a boost to the market. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 33.02 Billion by 2027, exhibiting a CAGR of 31.20% during 2022-2027. 

Market Summary:

  • On the basis of the technology, the market has been segmented into System-on-Chip (SoC), System-in-Package, Multi-chip Module, and others.
  • Based on the chip type, the market has been classified into GPU, ASIC, FPGA, CPU, and others.
  • On the basis of the industry vertical, the market has been categorized into BFSI, IT and telecom, media and advertising, retail, healthcare, automotive, and others.
  • On the basis of the region, 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, the United Kingdom, Italy, Spain, Russia and others), Latin America (Brazil, Mexico and others) and the Middle East and Africa.
  • The competitive landscape of the market has been studied in the report with detailed profiles of the key players operating in the market. Some 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.
     

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