What are the Historical Developments and Current Growth Metrics of the Machine Learning Chip Market?
The machine learning chip market has seen considerable growth due to a variety of factors.
• The market size for machine learning chips has seen a remarkable surge in recent periods. The sector is projected to enlarge from $21.12 billion in 2024 to $28.97 billion in 2025, demonstrating a compound annual growth rate (CAGR) of 37.2%.
The previous growth can be credited to the surge in big data analytics, wider use of cloud services, the dawn of edge computing, increasing applications of AI across different industries, and the proliferation of IoT devices.
What is the Forecasted Market Size and CAGR for the Machine Learning Chip Market?
The machine learning chip market is expected to maintain its strong growth trajectory in upcoming years.
• Expectations for the machine learning chip market size indicate a significant increase in the coming years, as it's predicted to reach $103.35 billion by 2029, with a compound annual growth rate (CAGR) of 37.4%.
The projected expansion through this period is due to factors such as the incorporation of AI into edge devices, the continuous evolution of AI algorithms, growing emphasis on energy efficiency, the broadening application of AI, and the global drive towards autonomous systems. Key trends for this forecast period include collaborations and partnerships in technology, enhanced investments in AI research and development, advancements in AI technology, initiatives for open-source hardware, and customization and specialization.
What Key Factors and Trends Are Driving The Growth Machine Learning Chip Market?
The surge in cyberattacks is anticipated to drive the expansion of the machine learning chip market. Cyberattacks involve any aggressive action aimed at computer systems, networks, infrastructures, or personal devices, with the purpose of collecting, disrupting, denying, degrading, or annihilating system resources or data. Machine learning chips are vital for cybersecurity, as they allow the application of machine learning algorithms to continually assess data, recognize patterns, and make precise predictions to counter potential cyber threats. For example, the Australian Cyber Security Centre reported in February 2023, the cybercrime reports received in 2022 were 76,000, an increase of 13% from the previous year. In addition, the Anti-Phishing Working Group, a U.S.-based entity, documented 1,025,968 phishing attacks in the first quarter of 2022 in June 2022, indicating a 15% rise from the fourth quarter of 2021, with 888,585 reported attacks. Therefore, the increasing cyberattacks are fuelling the expansion of the machine learning chip market.
What Are The Market Segments In The Machine Learning Chip Market?
The machine learning chip market covered in this report is segmented –
1) By Chip Type: Graphics Processing Unit (GPU), Application-Specific Processor (ASIC), Field Programmable Gate Array (FPGA), Central Processing Unit (CPU), Other Chips
2) By Technology: System-On-Chip (SoC), System-In-Package, Multi-Chip Module, Other Technologies
3) By Industry Vertical: Banking, Financial Services, And Insurance (BFSI), IT And Telecom, Media And Advertising, Retail, Healthcare, Automotive, Other Industry Verticals
Subsegments:
1) By Graphics Processing Unit (GPU): Dedicated GPUs, Integrated GPUs
2) By Application-Specific Integrated Circuit (ASIC): Custom ASICs For AI, General-Purpose ASICs
3) By Field Programmable Gate Array (FPGA): Configurable FPGAs, Embedded FPGAs
4) By Central Processing Unit (CPU): Multi-Core CPUs, High-Performance CPUs
5) By Other Chips: Neuromorphic Chips, Digital Signal Processors (DSP), Tensor Processing Units (TPU)
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What New Trends Are Influencing The Machine Learning Chip Market?
Leading firms in the machine learning chip market are endeavoring to create novel products, like advanced system-on-chips (SoCs), to establish a competitive advantage. Essentially, an SoC is an integrated circuit (IC) that encapsulates all the elements of a comprehensive electronic system onto a single chip. Take for instance, in January 2022, Silicon Labs, a semiconductor manufacturing company based in the UK, introduced new AI/ML chips and a toolkit for the edge. This move is targeted at facilitating the execution of artificial intelligence (AI) and machine learning (ML) at the IoT edge. The latest wireless SoC launched includes an AI and machine learning accelerator, wireless radio, ultra-lower-power features, and compatibility for IP-based connectivity protocols such as Matter and Zigbee.
Who Are the Key Players In The Machine Learning Chip Market?
Major companies operating in the machine learning chip market report are:
• Google LLC
• Samsung Electronics Co. Ltd.
• Tencent Holdings Limited
• Amazon Web Services Inc.
• Taiwan Semiconductor Manufacturing Company Limited (TSMC)
• Intel Corporation
• International Business Machines Corporation (IBM)
• SoftBank Group Corp
• Qualcomm Incorporated
• Micron TechnologyInc. (US)
• NVIDIA Corporation
• Toshiba Corporation
• Advanced Micro Devices Inc.
• Texas Instruments Incorporated
• Baidu Inc.
• NXP Semiconductors
• Synopsys Inc.
• Lattice Semiconductor Corporation
• Horizon Robotics
• Hailo
• Cerebras Inc.
• BitMain Technologies Holding Company
• Graphcore
• Mythic
• Gyrfalcon Technology
• Flex Logix Technologies
• Wave ComputingInc.
• Esperanto Technologies
• BrainChip Holdings
What Are The Regional Insights Into The Machine Learning Chip Market?
North America was the largest region in the machine learning chip market in 2024. The regions covered in the machine learning chip market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
