AI Accelerator Chips Market Share to Generate $332,142.7 Mn by 2031Download Sample Reports Overview
The Global AI Accelerator Chips Market Size is predicted to be valued at $332,142.7 million by 2031, surging from $14,948.6 million in 2021, at a noteworthy CAGR of 39.3%.
Impact Analysis of COVID-19 on the AI Accelerator Chips Market
The global outbreak of the COVID-19 pandemic has influenced practically every industry. As things begin to stabilize, the manufacturing industry is expected to accelerate smart manufacturing processes through the use of IoT, AI, and blockchain technology. Industries may save expenses, improve process efficiency, and significantly reduce the human touch by implementing these technologies. At the moment, AI is mostly used for predictive maintenance, but it is projected to be used to predict demand and revenue in the supply chain in the future. As a result of the pandemic, educational industries have had a beneficial influence, with ed-tech organizations rapidly adopting AI technology to provide instruction during the lockdown. AI tools have been applied by ed-tech businesses to improve online learning and virtual classroom experiences for students. The increasing use of artificial intelligence in a variety of sectors is boosting AI accelerator chip market demand for data center accelerators.
May 2021: NEC X formed a partnership with Alchemist Accelerator, a venture-backed initiative aimed at expediting the development of early-stage enterprises. This partnership aims to provide technological entrepreneurs with full-service assistance, including NEC R&D technologies and business launch coordination.
Global AI Accelerator Chips Market Analysis
An artificial intelligence accelerator is a type of specialized hardware accelerator or computer system designed to speed artificial intelligence chips, namely artificial neural networks, machine learning, robotics, and other data-intensive or sensor-driven applications. The main advantage of AI accelerator chip hardware acceleration is speed. In this article, we will look at the most common hardware AI accelerators. A graphics processing unit (GPU) is a specialized processor that can do quick processing, particularly for image rendering. They have become a key component of modern supercomputing. They've been utilized to build new hyper scale data centers and have evolved into accelerators, speeding up everything from encryption to networking to AI. GPUs triggered an AI boom, have become an essential component of current supercomputers, and continue to fuel breakthroughs in gaming and professional graphics.
However, because there is so much data and so much variation in the accuracy and response times needed, designers must be extremely picky about whatever architecture they use. A storage system, for example, is massively data-intensive, and because the emphasis is on crunching that data as quickly as possible, power consumption is not an explicit factor, though energy efficiency is always beneficial to extend component lifespan and reduce overall facility power and cooling costs.
AI is becoming increasingly extensively employed; recent advancements in education, healthcare, marketing, telecommunications, transportation, consumer electronics, and several other industries have all been based on AI. The value AI solutions provide to customers may be utilized to predict their success in the consumer electronics (CE) sector. For example, recommending the best music playlist based on the consumer's current mood may help businesses add value to their offerings and increase their chances of retaining consumers. Furthermore, the importance of edge AI in the healthcare business will propel the global market forward. One of AI's defining features is its ability to automate processes. AI algorithms may collect and analyze data from a range of sensors to determine the best course of action. Edge AI takes this to the next level. It uses computer vision and data from various sensors to enable autonomous monitoring of hospital rooms & patients.
Global AI Accelerator Chips Market, Segmentation
The AI accelerator chips market is segmented based on chip type, processing type, application, industry vertical, and region.
The chip type segment is further classified into graphics processing unit (GPU), application-specific integrated circuit (ASIC), field programmable gate arrays (FPGA), central processing unit (CPU) and others. Among these, the central processing unit (CPU) sub-segment is accounted for a dominant market share in 2021. A central processing unit (CPU) accelerator is a software application that accelerates program execution by changing how memory and processing power are allocated for executing programs. This is commonly done to speed up a computer or improve performance when running software such as graphics or video editors, as well as computer games. While it is possible to overclock one's CPU rather than utilizing a CPU accelerator, this is often more complex and might result in hardware damage.
The processing type segment is further classified into edge and cloud. Among these, the cloud sub-segment accounted for a dominant market share in 2021. Cloud Accelerator creates a safe and operationally effective cloud environment, allowing businesses to focus on what matters: giving value to their customers. It saves businesses time and money while also hastening cloud adoption.
The application segment is further classified into natural language processing (NLP), computer vision, robotics, and network security. Among these, the natural language processing sub-segment is anticipated to have a dominant market share in 2021. Natural language processing (NLP) is a part of everyday lives, both at home and at work. Consumers transmit voice orders to virtual home assistants, cellphones, and even automobiles without much thinking.
The industry vertical segment is further classified into financial services, automotive and transportation, healthcare, retail, telecom, and others. Among these, the healthcare sub-segment is anticipated to have a dominant market share in 2021. AI in healthcare may improve preventative care and quality of life, provide more accurate diagnosis and treatment plans, and result in overall improved patient outcomes. By analyzing data from government, healthcare, and other sources, AI can also anticipate and track the spread of dangerous illnesses.
The AI accelerator chips market in the North America region is projected to show the fastest growth. AI is intended for high-potential seed-stage startups based in North America that have AI-driven solutions with market-ready products aimed at addressing financial concerns. Pre-seed and later-stage company applications will also be considered depending on their fit with the program's themes and focus areas. International startups are encouraged to apply but must demonstrate their worth to the North American market.
Key Players in the Global AI Accelerator Chips Market
Some of the leading AI accelerator chips market players are
- NVIDIA Corporation
- Intel Corporation
- Qualcomm Technologies Inc.
- International Business Machines Corporation
- Micron Technology Inc.
- Microsoft Corporation
- Alphabet Inc. (Google Inc.)
- NXP Semiconductors N.V.
- Advanced Micro Devices Inc. (AMD)
- Graphcore Limited.