LONDON, Dec. 05, 2022 (GLOBE NEWSWIRE) — According to The Business Research Company’s research on the artificial intelligence chip market, an increase in demand for smart homes and smart cities is expected to propel the growth of the artificial intelligence chip market going forward. A “smart city” refers to a city that uses digital or information-communication technology to improve the comfort and efficiency of human life. One strategy for urbanisation that aims to achieve sustainable growth is making cities equipped with cutting-edge features for residents to live, walk, shop, and enjoy a safer and more convenient existence. For instance, in March 2022, according to an article shared by Arab News, a Middle East English-language daily newspaper, Saudi Arabia launched a new smart city project in Jeddah for light industries and auto repair, opening the first two stages of the city, the second of which is a 500,000 square metre labour city. A total of 5 million square metres is covered by the Smart City initiative. Further, According to Saudi Vision 2030, a Saudi Arabia-based strategic framework, the city is distinguished by an interconnected infrastructure and the application of digital and smart technology to offer automated services to customers. Therefore, the increase in demand for smart homes and smart cities is driving the artificial intelligence chip market growth.
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The global artificial intelligence chip market size is expected to grow from $10.55 billion in 2021 to $15.01 billion in 2022 at a compound annual growth rate (CAGR) of 42.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, effecting many markets across the globe. The market is expected to grow to $49.26 billion in 2026 at a CAGR of 34.6%.
Technological advancement is a key trend gaining popularity in the artificial intelligence chip market. Major companies in the artificial intelligence chip market are advancing in their new technologies and research and developments in the artificial intelligence chip market, such as the NVIDIA A100 chips to streamline AI training and inference and improve efficiency. For instance, in May 2020, NVIDIA, a US-based company that specialises in the development and production of chipsets, processors, and related multimedia software for computers operating in the artificial intelligence chip market, launched the EGX A100 and EGX Jetson. The first edge AI product based on the NVIDIA Ampere architecture is the EGX A100. The EGX Jetson is the world’s smallest and most powerful AI supercomputer for microservers, and the product has unique features such as providing high-performance, secure AI processing at the edge. There are two models: the EGX A100 for bigger commercial off-the-shelf servers and the compact EGX Jetson Xavier NX for micro-edge servers. Hospitals, shops, farms, and factories can process and secure the enormous volumes of data pouring from trillions of edge sensors with the NVIDIA EGXTM Edge AI platform.
Major players in the artificial intelligence chip market are Intel Corporation, Mediatek Inc, NVIDIA Corporation, Qualcomm Technologies Inc, Advanced Micro Devices Inc, Alphabet Inc, NXP Semiconductors N.V, Micron Technology Inc, IBM Corporation, Apple Inc, Huawei Technologies Co. Ltd, Mythic Inc, Samsung Electronics Co. Ltd, LG Corporation, and Google LLC.
North America was the largest region in the artificial intelligence market in 2021. The regions covered in this artificial intelligence chip market research are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
The global artificial intelligence chip market is segmented by chip type into GPU, ASIC, FPGA, CPU, other chip types; by processing type into edge, cloud; by technology into system-on-chip (SoC), system-in-package (SIP), multi-chip module, other technology; by application into natural language processing (NLP), robotics, computer vision, network security, other application; by industry into media and advertising, BFSI, IT and telecom, retail, healthcare, automotive and transportation, other industry.
Artificial Intelligence Chip Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026 is one of a series of new reports from The Business Research Company that provide artificial intelligence chip market forecast size and growth, artificial intelligence chip market segments, artificial intelligence chip market trends, drivers and restraints, leading competitors’ revenues, profiles and market shares in its competitive landscape section for over 3,000 industry reports, covering more than 2,500 market segments and 60 geographies.
The report also gives in-depth analysis of the impact of COVID-19 on the market. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.
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