Artificial Intelligence Chipset Market Trends 2021-2026, North America, Europe & APAC Industry Statistics with COVID-19 Impact Analysis: Graphical Research
Europe Artificial Intelligence chipset market size to cross $9 billion valuation by 2026 | GPU segment to boost growth in North American market | Asia Pacific industry to register 40% CAGR through the projected duration
Pune, India – August 5, 2021 /MarketersMedia/ —
Graphical Research added research on Artificial Intelligence chipset market is a detailed analysis of this business space inclusive of the trends, competitive landscape, and the market size. Encompassing one or more parameters among product analysis, application potential, and the regional growth landscape, market also includes an in-depth study of the industry’s competitive scenario.
Some of the key trends that will favor the global AI chipset market growth are listed below:
Network security solutions will foster AI chipsets demand in Europe:
Out of the various segments based on technology like Natural Language Processing (NLP), Robotic Processing Automation (RPA), computer vision and network security, the network security segment is predicted to grow at 30% CAGR up to 2026 in Europe. In fact, this segment held a market share of over 6% in 2019. A major reason for this is that various advanced technologies like cloud computing and big data are increasingly being adopted by industries like telecom, education, IT, banking and many others in recent years.
Intelligent networking solutions like smart IP networks are being implemented to overcome various challenges like connectivity problems, troubleshooting, inconvenience in maintenance and overall operations among others.
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BFSI sector in Europe will increase the use of AI chipsets:
Based on application of AI chipsets market is divided into various sectors like BFSI, IT & telecom, retail, media & advertising, healthcare and automotive. Out of these, the BFSI industry vertical in Europe is predicted to grow at a rate of 27% in the coming years. A major reason for this is that demand for digital banking and mobile wallets has grown exponentially over the years.
When AI-equipped applications are used in various virtual transactions, then its greatly reduces the risk of frauds. According to a research report released by Microsoft in 2019, almost 72% of banks, financial institutions and insurance companies are using AI technologies in the UK.
France will boost revenue share of AI chipsets makers:
France will play a vital role in increasing the demand for AI chipsets. In fact, in 2019, the country’s AI chipset market garnered a regional market revenue of 12% and is estimated to grow at 29% CAGR through 2026. This is because of the incredible rise in the use of AI technologies in the healthcare sector of the country. Initiatives by the government and other authorities like “AI for Humanity” to promote the healthcare industry in the country have given tremendous boost to the use of AI chipsets.
Automation in North America manufacturing sector:
The manufacturing sector in North America is undergoing constant innovations to make it as efficient as possible. This is why various advanced technologies like industrial automation and robotics are being increasingly used. Several manufacturing plants have already started adopting industrial robots, robotic arms and automated forklifts to not just make the overall work easier but to make productive use of time as well.
The use of these automated equipment has positively impacted Artificial Intelligence chipset market growth in the region. For example, according to the statistics released by World Robotics in 2019, North America recorded a growth rate of 20% with 55,212 industrial robots being installed in 2018 alone.
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Scope of Graphics Processing Unit (GPU) in the U.S.:
Based on product, the GPU segment held Artificial Intelligence chipset market share of almost 45% in North America during 2019. This segment is predicted to grow even further in the future as well. GPU is widely used in the gaming industry to provide better graphics while playing video games.
It has several benefits attached to it as well like low cost, low latency, high-quality performance and many others. The U.S., for example, has shown significant progress in its gaming industry as it recorded 75% growth rate in its overall virtual traffic.
Some of the leading companies manufacturing AI chipsets across the world are Horizon Robotics, MediaTec Inc., ThinkForce, Intel Corporation, Google, Groq Inc. and Qualcomm Technologies.
Potential of AI accelerators in Asia Pacific market:
High performance AI accelerators are being increasingly adopted by large-scale enterprises in Asia Pacific region. This is one of the reasons why Artificial Intelligence chipset market in the region will flourish in the coming years. These accelerators are used in data centers for the purpose of using data analytics to process millions of data pieces.
Data centers are increasing in demand as well, thanks to the increasing adoption of 5G technology and high-speed internet connectivity. For example, it was reported that in September 2020, NTT Ltd. will invest around $2 billion in the next four years to establish data centers in the region.
Natural Language Processing (NLP) adoption across APAC:
There are various technologies in Artificial Intelligence chipset market like NLP, RPA, computer vision and network security. Out of these, it is being reported that the NLP segment will contribute significantly towards the demand for AI chipsets in Asia Pacific region. In fact, this segment is reported to showcase an incredible growth rate of 40% in the future.
This is because various speech recognition technologies like voice-controlled systems are seeing massive demand among consumers. NLP is undergoing constant innovations as well which will further contribute towards Artificial Intelligence chipset market growth in the region.
About Graphical Research:
Graphical Research is a business research firm that provides industry insights, market forecast and strategic inputs through granular research reports and advisory services. We publish targeted research reports with an aim to address varied customer needs, from market penetration and entry strategies to portfolio management and strategic outlook. We understand that business requirements are unique: our syndicate reports are designed to ensure relevance for industry participants across the value chain. We also provide custom reports that are tailored to the exact needs of the customer, with dedicated analyst support across the purchase lifecycle.
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