Global Machine Learning Chip Market to Reach US$ 33.02 Billion by 2027
Research Reports
Mar 23, 2022
Global Information, Inc. [JASDAQ 4171]
Machine learning (ML) refers to a part of artificial intelligence (AI), which operates on experiential learning instead of programming for making decisions. ML chips are installed to improve intellectual property cores and enhance design and tool flows. They also help automate the tuning and routing of devices to improve the power, performance, and area (PPA) results through ML, analytics, and optimization. The hardware infrastructure of ML chips mainly consists of three components, storage, networking, and computing. Some of the standard ML chips include field-programmable gate arrays (FPGAs), application-specific integrated circuits (ASICs), and graphics processing units (GPUs). These chips are used for error prevention and cost-saving purposes across various industries, such as manufacturing, automotive, media and advertising, transportation, and finance.
The widespread utilization of AI in several industry verticals and the emergence of quantum computing are some of the main factors driving the global machine learning chip market growth. A significant expansion in the gaming industry has led to a shift from central processing units (CPUs) to graphics processing units (GPUs) for simultaneously performing various complex tasks, which is further contributing to the growth of the market. Apart from this, the establishment of smart infrastructure in corporate organizations and the commencement of smart city projects are fueling the market growth. The growing number of machine learning (ML) applications and the increasing demand for smart homes are providing an impetus to the market growth. Moreover, the emergence of the Internet-of-Things (IoT) and the rising development of human-like robots to reduce human intervention and errors are some of the other factors creating a positive outlook for the market across the globe.
The global machine learning chip market reached a value of US$ 5.86 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 33.02 Billion by 2027 exhibiting a CAGR of 31.20% during 2022-2027. The competitive landscape of the industry has also been examined along with the profiles of the key players being Advanced Micro Devices Inc., Amazon Web Services Inc. (Amazon.com Inc.), Cerebras Inc., Google LLC, Graphcore, Intel Corporation, International Business Machines Corporation, NVIDIA Corporation, Qualcomm Incorporated, Samsung Electronics Co. Ltd. and Taiwan Semiconductor Manufacturing Company Limited.
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