According to a recent study from market research firm Global Market Insights, the artificial intelligence chipsets market is set to grow from its current market value of more than $8 billion to over $70 billion by 2026, gaining remarkable traction over the 2020 to 2026 period.
The Artificial Intelligence chipsets market is poised for robust growth on the back of increasing penetration of e-commerce platforms that generate enormous amounts of data.
The need for high-speed processors has prevailed owing to a surge in vital user information and data. This has led to the requirement of AI chipsets across various industries. A rise in the number of smartphone users has also stimulated AI chipsets.
From consumer electronics, BFSI, IT & Telecom, healthcare, media & advertising to retail, AI chipsets are playing a pivotal role in enhancing customer experience.
In the BFSI sector, financial service companies are leveraging AI technology to reduce lending risks by improving fraud detection and profiling applicants.
Increasing demand for smarter robots, which include control of connected devices and virtual assistants, has significantly accelerated the demand for AI-based operations.
Robotic Process Automation with Artificial Intelligence is experiencing wide adoption in facial analysis systems, IQ Bots and autonomous robots. Expansive application of these autonomous robots in various industries will foster artificial intelligence chipsets market size.
Robotic Process Automation (RPA) with AI is meanwhile being implemented across autonomous robots, IQ Bots and facial analysis systems. Companies worldwide are adopting RPA technology and AI chipsets for developing autonomous robots.
Several big organizations are making huge investments in field programmable gate array (FPGA) innovations to offer better features in the AI platform, as it offers custom parallelism in real-time interface with an AI model and high bandwidth memory.
In 2018, Intel developed FPGA technology for Microsoft Azure ML Hardware Accelerated Models, that offers promising AI inferencing performance to the customers.
The Field Programmable Gate Array segment in the artificial intelligence chipsets market is estimated to register a CAGR of nearly 25% through 2026 due to high-performance, low-power requirements and enhanced connectivity features.
On the regional front, Europe’s artificial intelligence chipsets market is expected to record lucrative proceeds, with surging development made in self-driving vehicles.
Automakers are developing cutting-edge autonomous vehicles by using AI chipsets to process large amounts of data from cameras and sensors in real-time to facilitate efficient operations.
Integration of AI chipsets in self-driven vehicles can gather large amounts of data from sensors, cameras, and other sources in real-time, that aids the vehicles to function more safely and efficiently.
Europe’s artificial intelligence chipsets market is expected to witness a growth rate of over 33% over the projected timeframe owing to the rapid development of autonomous vehicles in the region.