Artificial Intelligence Chip Market to Reach $194.9 Bn By 2030

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The global artificial intelligence chip market across Asia-Pacific is projected to portray the highest CAGR of 41.3 per cent during the forecast period, owing to adoption of new technologies and increase in appeal for online videos and smartphones

The global artificial intelligence chip industry was worth $8.02 billion in 2020. The same, as per a report by Allied Market Research, is expected to reach $194.9 billion by 2030, growing at a CAGR of 37.4 per cent from 2021 to 2030.

“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,” read the report.

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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 per cent 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.

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. However, the robotics segment is estimated to manifest the highest CAGR of 41.4 per cent from 2021 to 2030, as it increases employee satisfaction, productivity, and engagement.

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 per cent during the forecast period, owing to adoption of new technologies and increase in appeal for online videos and smartphones.

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Mukul Yudhveer Singh
Mukul Yudhveer Singh
Mukul Yudhveer Singh is an Editor at EFY. He’s an experienced business journalist who is both an enthusiast and a cynic of technology. Believes in data, as well as hunch-based journalism. He defines journalism as- reporting facts which help the audience take their own decisions, not ones that influence them!

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