Machine Learning Chips Market to grow by USD 22,276.52 million from 2022 to 2027

NEW YORK, July 31, 2023 /PRNewswire/ -- The machine learning chips market size is estimated to grow by USD 22,276.52 million from 2022 to 2027, according to Technavio. The market is estimated to grow at a CAGR of 30.91%. The growth momentum will progress during the forecast period. North America is estimated to account for 46% of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. In North America, the growth of the machine learning chips market is fueled by increasing investments in autonomous vehicles. These vehicles are equipped with advanced systems like ADAS, HUD, LiDAR, and RADAR, which rely on electronic components such as sensors, microcontrollers, microprocessors, and RF components to generate and process real-time data. Automotive OEMs are actively working on commercializing autonomous vehicles, presenting significant opportunities for machine-learning chip manufacturers in the market. The integration of advanced HMI technologies and advancements in wired and wireless communication for automotive applications is expected to positively impact the market's growth in North America during the forecast period. For more insights on the historic period (2017 to 2021) and forecast market size (2023 to 2027) - Request a sample report

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Machine Learning Chips Market - Segmentation AssessmentSegment OverviewTechnavio has segmented the market based on end-user (BFSI, IT and telecom, Media and advertising, and Others), technology (System-on-chip (SoC), System-in-package, Multi-chip module, and Others), and geography (North America, Europe, APAC, South America, and Middle East and Africa).

The market share growth by the BFSI segment will be significant during the forecast period. The BFSI industry has undergone a revolution with the introduction of machine learning chips. Customer data plays a crucial role in driving the entire industry, and AI is utilized by various marketing technologies like DMPs and CDPs to enhance and personalize user engagements across digital channels. AI enables targeted and relevant marketing, leading to increased online revenue and improved customer interactions. The emergence of machine learning and AI has completely transformed the marketing landscape, bridging the gap between marketers and customers. In the insurance sector, AI can reduce operating costs and enhance customer satisfaction in various services such as policy renewal and claims processing. These factors are expected to drive the demand for machine learning chips in the BFSI industry, contributing to the market's growth during the forecast period.

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Machine Learning Chips Market – Market DynamicsKey factor driving market growth

The adoption of machine learning chips in autonomous vehicles is the major factor notably driving market growth. The automotive industry recognizes the significance of machine learning chips to achieve high levels of vehicle automation, leading to increased demand in this field. Sensors, cameras, radar, LIDAR, and ultrasonic instruments generate large amounts of data, requiring processors to analyze the unstructured data and make quick decisions while the vehicle is in operation. Autonomous vehicles come equipped with advanced features like ADAS, multimodal user interfaces, and automotive cloud services. Deep learning in ADAS offers advantages over traditional algorithms, such as object recognition, power efficiency, prediction, and improved perception. The growing investments in autonomous vehicles create opportunities for vendors to expand their market presence and revenues. These factors will drive the growth of the global machine learning chips market during the forecast period.

Leading trends influencing the market

Increasing investments in AI start-ups is an emerging trend shaping market growth. The rapid growth of AI technology in various industries has led to the increasing implementation of machine learning chips. Many start-ups are entering the market to capitalize on the growing demand for AI technology, and they have been receiving significant investments from venture capitalists and major chip manufacturers for AI platform and chipset development. For example, Shanghai-based start-up Innostar Semiconductor raised USD 100 million in funding for the development of storage and resistive RAM chips. Similarly, Tessolve received USD 40.0 million in funding to expand its chip and ASIC design business and embedded service offerings. These factors will drive the market's growth during the forecast period.

Major challenges hindering the market growth

The cyclical nature of the semiconductor industry is a major challenge hindering market growth. Forecasting in the global machine learning chips market is challenging due to fluctuations in demand for electronic products like consumer electronic devices and mobile devices. These fluctuations can result in oversupply or undersupply of semiconductor ICs, affecting machine learning chip manufacturers' capital spending and manufacturing capacity. Vendors may face high inventory and manufacturing costs before actual sales, requiring substantial working capital. Additionally, inaccurate forecasts or order cancellations/delays can adversely impact vendors' operations, leading to significant losses. These factors may hinder market growth during the forecast period.

Insights on Market Drivers, trends, & Challenges, historic period(2017 to 2021) and forecast period(2023 to 2027)- Request a sample report!

What are the key data covered in this Machine Learning Chips Market report?

CAGR of the market during the forecast period

Detailed information on factors that will drive the growth of the machine learning chips market between 2023 and 2027

Precise estimation of the machine learning chips market size and its contribution to the market in focus on the parent market

Accurate predictions about upcoming trends and changes in consumer behaviour

Growth of the machine learning chips market across North America, Europe, APAC, South America, and the Middle East and Africa

A thorough analysis of the market's competitive landscape and detailed information about vendors

Comprehensive analysis of factors that will challenge the growth of machine learning chips market vendors

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Machine Learning Chips Market Scope

Report Coverage

Details

Base year

2022

Historic period

2017-2021

Forecast period

2023-2027

Growth momentum & CAGR

Accelerate at a CAGR of 30.91%

Market growth 2023-2027

USD 22,276.52 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

24.49

Regional analysis

North America, Europe, APAC, South America, and Middle East and Africa

Performing market contribution

North America at 46%

Key countries

US, China, Taiwan, UK, and Germany

Competitive landscape

Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks

Key companies profiled

Advanced Micro Devices Inc., Alphabet Inc., Baidu Inc., Broadcom Inc., Cerebras Systems Inc., Fujitsu Ltd., Graphcore Ltd., Huawei Technologies Co. Ltd., Intel Corp., International Business Machines Corp., MediaTek Inc., Microchip Technology Inc., NVIDIA Corp., NXP Semiconductors NV, Qualcomm Inc., SambaNova Systems Inc., Samsung Electronics Co. Ltd., SenseTime Group Inc., Taiwan Semiconductor Manufacturing Co. Ltd., and Tesla Inc.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Table of contents

1 Executive Summary

1.1 Market overview

2 Market Landscape

2.1 Market ecosystem

3 Market Sizing

3.1 Market definition

3.2 Market segment analysis

3.3 Market size 2022

3.4 Market outlook: Forecast for 2022-2027

4 Historic Market Size

4.1 Global machine learning chips market 2017 - 2021

4.2 End-user Segment Analysis 2017 - 2021

4.3 Technology Segment Analysis 2017 - 2021

4.4 Geography Segment Analysis 2017 - 2021

4.5 Country Segment Analysis 2017 - 2021

5 Five Forces Analysis

5.1 Five forces summary

5.2 Bargaining power of buyers

5.3 Bargaining power of suppliers

5.4 Threat of new entrants

5.5 Threat of substitutes

5.6 Threat of rivalry

5.7 Market condition

6 Market Segmentation by End-user

6.1 Market segments

6.2 Comparison by End-user

6.3 BFSI - Market size and forecast 2022-2027

6.4 IT and telecom - Market size and forecast 2022-2027

6.5 Media and advertising - Market size and forecast 2022-2027

6.6 Others - Market size and forecast 2022-2027

6.7 Market opportunity by End-user

7 Market Segmentation by Technology

7.1 Market segments

7.2 Comparison by Technology

7.3 System-on-chip (SoC) - Market size and forecast 2022-2027

7.4 System-in-package - Market size and forecast 2022-2027

7.5 Multi-chip module - Market size and forecast 2022-2027

7.6 Others - Market size and forecast 2022-2027

7.7 Market opportunity by Technology

8 Customer Landscape

8.1 Customer landscape overview

9 Geographic Landscape

9.1 Geographic segmentation

9.2 Geographic comparison

9.3 North America - Market size and forecast 2022-2027

9.4 Europe - Market size and forecast 2022-2027

9.5 APAC - Market size and forecast 2022-2027

9.6 South America - Market size and forecast 2022-2027

9.7 Middle East and Africa - Market size and forecast 2022-2027

9.8 US - Market size and forecast 2022-2027

9.9 China - Market size and forecast 2022-2027

9.10 UK - Market size and forecast 2022-2027

9.11 Germany - Market size and forecast 2022-2027

9.12 Taiwan - Market size and forecast 2022-2027

9.13 Market opportunity by geography

10 Drivers, Challenges, and Trends

10.1 Market drivers

10.2 Market challenges

10.3 Impact of drivers and challenges

10.4 Market trends

11 Vendor Landscape

11.1 Overview

11.2 Vendor landscape

11.3 Landscape disruption

11.4 Industry risks

12 Vendor Analysis

12.1 Vendors covered

12.2 Market positioning of vendors

12.3 Advanced Micro Devices Inc.

12.4 Alphabet Inc.

12.5 Broadcom Inc.

12.6 Cerebras Systems Inc.

12.7 Graphcore Ltd.

12.8 Huawei Technologies Co. Ltd.

12.9 Intel Corp.

12.10 International Business Machines Corp.

12.11 MediaTek Inc.

12.12 NVIDIA Corp.

12.13 NXP Semiconductors NV

12.14 Qualcomm Inc.

12.15 Samsung Electronics Co. Ltd.

12.16 Taiwan Semiconductor Manufacturing Co. Ltd.

12.17 Tesla Inc.

13 Appendix

13.1 Scope of the report

13.2 Inclusions and exclusions checklist

13.3 Currency conversion rates for US$

13.4 Research methodology

13.5 List of abbreviations

About UsTechnavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

ContactTechnavio ResearchJesse MaidaMedia & Marketing ExecutiveUS: +1 844 364 1100UK: +44 203 893 3200Email: [email protected]: www.technavio.com

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