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Global AI chip market to reach $91m by 2025

The global artificial intelligence (AI) chip market would be headed for a compound annual growth rate of 45.2% between 2019 & 2025, according to a new report from ResearchAndMarkets.

The document shows how the global AI chip market size was valued at $6,638 million in 2018 and is now projected to reach $91,185.1 million by 2025.

North America would be at the forefront of this growth, due to the recent flourishing of R&D activities in autonomous vehicles, healthcare, cybersecurity, and security & access control.

Head-up display screens in luxury cars, smart wearables, and growth in venture capital investments would also be responsible for the US increase in chip production.

According to the report, while the US dominated the North America chip market in 2018, the UK was at the forefront of the overall AI chip market in Europe.

In the Asia-Pacific region, China is currently dominating the market. Many tech companies in China, such as Baidu, are investing substantially heavily in AI technologies, with the country’s State Council announcing in 2017 a plan to grow the national AI industry into a $150 billion behemoth.

Another trend the new report has highlighted is the one seeing chip manufacturers acquiring AI startups to enhance and strengthen their AI chip capabilities. A prime example of this would be Intel acquiring Nervana, a small AI software firm known for its deep learning accelerator GPU chip.

In terms of major AI chip makers for the smartphone market, the ResearchAndMarkets report names Apple, Qualcomm, Huawei, MediaTek, and Samsung. Nvidia and AMD would also be the top sellers when it comes to GPU for AI-based services.

However flourishing this industry might be, the document warns, the lack of a skilled workforce would be slowing down the AI chip market growth.

Interested in the report? You can check it out in its entirety and purchase a copy of it on the ResearchAndMarkets website here.

Image via Freepik on flaticon.

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BY SHACK15

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