Deep Learning Chip Market to hit 21.31 Billion, Globally, by 2027 at 30.0% CAGR: The Insight Partners

December 15 20:24 2021
Deep Learning Chip Market to hit 21.31 Billion, Globally, by 2027 at 30.0% CAGR: The Insight Partners
The Insight Partners
The prominence of Quantum Computing contribute to the deep learning chip market growth

According to The Insight Partners study on “Deep Learning Chip Market to 2027 – Global Analysis and Forecasts By Chip Type (GPU, ASIC, FPGA, CPU, Others); Technology (System-on-Chip, System-in-Package, Multi-chip Module, Others); Industry Vertical (Media & Advertising, BFSI, IT & Telecom, Retail, Healthcare, Automotive & Transportation, and Others),” the market is projected to reach US$ 21.31 Billion by 2027 from US$ 2.04 Billion in 2021; it is expected to register a CAGR of 30.0% during 2019–2027.

Strategic Insights        

Report Coverage

Details

Market Size Value in

 US$ 2.04 Billion in 2018

Market Size Value by

 US$ 21.31 Billion by 2027

Growth rate

 CAGR of 30.0% from 2019-2027

Forecast Period

 2019-2027

Base Year

 2019

No. of Pages

 185

No. Tables

 83

No. of Charts & Figures

 82

Historical data available

 Yes

Segments covered

 Chip Type; Technology; Industry Vertical

Regional scope

 North America; Europe; Asia Pacific; Latin America; MEA

Country scope

 US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina

Report coverage

 Revenue forecast, company ranking, competitive landscape, growth factors, and trends

 

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With the increasing demand for application-based deep learning chips for specific problems in an industry vertical, various startups and established companies are focusing on new hardware innovations that support rapid, and efficient deep learning processing. Deep learning is the part of the range of AI applications offered by AI chipset architectures along with machine learning, and natural language processing among others for both training and inference. To address the increasing demand and variety of AI workloads, vendors are now mixing a wide range of chip technologies in their products. There are various application-specific SoCs available for intelligent robotics and mobile apps. A large number of start-ups have come up in the artificial intelligence ecosystem, and they have received impressive funding from various big organizations. ASICs and application-specific custom/hybrid deep learning chips will be the future of deep learning chip market and therefore is expected to be a trending factor impacting the growth of the deep learning chip market.

The deep learning chip market by industry vertical is segmented into media & advertising, BFSI, IT & telecom, retail, healthcare, automotive & transportation, and others. The BFSI holds a significant share in the market, whereas, healthcare is expected to be the fastest-growing solution during the forecast period. The healthcare segment generates a huge amount of data ranging from customer’s personal data to clinical research data. The deep learning chip market is experiencing high growth in the medical sector with huge investments and projects made by companies to develop treatments based on the concept of machine learning. There are various areas where artificial intelligence is being applied in the healthcare sector. Some of these areas include Diagnosis and Treatment Systems, Image Analytics & Diagnosis and others. On the other hand, BFSI Institutions face a dynamic & challenging environment with superior competition from specialized Fin-Tech enterprises, increasing regulatory supplies and pressure on interest margins in a low-interest rate market. All of this at a time when consumer behavior is transforming and traditional banking practices and models are no longer adequate to achieve the increasing consumer demands.

Impact of COVID-19 Pandemic on Deep Learning Chip Market

The Covid-19 (coronavirus) pandemic is impacting society and the overall economy across the world. The impact of this pandemic is growing day by day as well as affecting the supply chain. The COVID-19 crisis is creating uncertainty in the stock market, massive slowing of supply chain, falling business confidence, and increasing panic among the customer segments. The overall effect of the pandemic is impacting the production process of several industries. This report on ‘Deep Learning Chip Market’ provides the analysis on impact on Covid-19 on various business segments and country markets. The reports also showcase market trends and forecast to 2028, factoring the impact of Covid -19 Situation.

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The prominence of Quantum Computing contribute to the deep learning chip market growth

Quantum computing takes seconds to finish a calculation that would otherwise take more time. Quantum computers are an innovative transformation of artificial intelligence, machine learning, and big data. Therefore, the prominence of quantum computing is expected to drive the growth of the deep learning chip market. Furthermore, quantum computing is beneficial for various factors including, portfolio optimization, fraud detection, and risk management, and the areas where immediate data feedback is required. Thus, it is easier for a single processor to perform complex calculations in seconds. Additionally, with the internet’s scale and size, deep learning helps to maintain large data sets at a very low cost. Hence, these factors expected to boost the growth of the global deep learning chip market

Real-time consumer behavior insights and increased operational efficiency to propel the overall growth of deep learning chip market

The nature of business is becoming very competitive and to compete efficiently, enterprises nowadays relying on useful information and business analytics. Traditionally, business analytical tools were used to project sales from the data about events that were a week or month old. With the advent of artificial intelligence technology which learns in real-time and provides recommendations based on patterns, businesses have a tremendous opportunity to apply deep learning in various processes to better understand the business environment and customers.

Deep Learning Chip Market: Competitive Landscape and Key Developments

Advanced Micro Devices, Inc., Amazon Web Services, Inc., Bitmain Technologies Holding Company, Baidu, Inc., Google, Inc., Intel Corporation, NVIDIA Corporation, Qualcomm Technologies, Inc., Samsung Electronics Co. Ltd., and Xilinx Inc are among the key players in the global Deep Learning Chip market. The leading companies focus on the expansion and diversification of their market presence, and acquisition of new customer base, thereby tapping prevailing business opportunities.

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2019: NVIDIA has partnered with Hackster.io to launch the AI at the Edge Challenge, a competition where developers utilize the NVIDIA Jetson Nano Developer Kit for building creative and unique projects and earn a chance to win from $100K in prizes.

2019: Intel announced its plans to expand the Oregon factory to produce a 7nm chip. Intel’s new factory will be the third phase of D1X, a massive factory Intel began in 2010. Each of the first two phases was 1.1. Million square feet, creating a combined facility equivalent to 15 Costco warehouse stores. The third phase will apparently increase D1X’s manufacturing space by about 50 percent. Further, Intel says its factory expansion will enable it to respond 60 percent faster to chip shortages.

2019: Huawei launched HiSecEngine USG12000, Industry’s first T-level AIFW. The HiSecEngine USG12000 is equipped with Ascend AI chips, which provides intelligent detection capabilities as well as intelligent border defense for enterprise networks.

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