Global AI Chip Market to Generate USD 304.09 Billion by 2030, Outlines a New Report by Next Move Strategy Consulting

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The rising adoption of artificial intelligence (AI) in several industries, such as healthcare, finance, autonomous vehicles, and robotics has created extensive demand for AI chips. Which ultimately fosters the global AI chip market.

New York, May 19, 2023 (GLOBE NEWSWIRE) — According to a report published by Next Move Strategy Consulting, the global Artificial Intelligence (AI) Chip Market size generated USD 28.83 billion in 2022, and is projected to generate USD 304.09 billion by 2030, witnessing a CAGR of 29.0% from 2023 to 2030. The study provides a detailed analysis of market drivers, constraints, and opportunities to highlight changing market dynamics. Furthermore, the research gives a thorough analysis of major segments and their sub-segments to identify the fastest-growing and highest revenue-generating segments.

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Equipping the extensive analysis of each and every aspect of the market in 198 pages, accompanied by 133 tables and 134 figures, the report aims to become a source of guidance for market players, investors, and startups to determine strategies for the next few years and achieve sustainable growth.

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Report Coverage Details
Forecast Period 2023–2030
Base Year 2022
Market Size in 2022 USD 28.83 Billion
Market Size in 2030 USD 304.09 Billion
CAGR 29.0%
No. of Pages 198
Tables 133
Figures 134
Segments covered Chip Type, Processing Type, Application, End User, and Region
Drivers Increase in demand for smart homes & smart cities
Rising use of ADAS features in cars
Opportunities Increasing focus on human-aware AI systems and development of smarter robots

The report offers a comprehensive analysis of the AI chip market dynamics based on drivers, restraining factors, and opportunities. Growing urbanization, efficient resource management, demand for fast transport, public safety concerns, and the need for a healthy environment with efficient energy consumption drives the growth of the global AI chip market. However, the lack of a skilled AI workforce due to its complexities restrains the market growth.

Lead Analyst for Information & Technology at Next Move Strategy Consulting, stated, “The growth of edge computing and IoT presents significant opportunities for AI chip manufacturers. Edge AI chips enable real-time data processing at edge devices, facilitating faster decision-making and reducing reliance on cloud data transmission. AI chips for IoT devices enable advanced analytics, predictive maintenance, and intelligent automation, creating new avenues for growth.”

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North America accounted for the highest share in 2022. This is attributed to factors such as the widespread utilization of AI, including machine learning and deep learning, in areas like cloud computing, digital assistants, and autonomous vehicles contribute to market growth. Moreover, the prominent presence of tech giants like NVIDIA, Google, and Apple, which prioritize research and development (R&D) activities and the deployment of AI. For instance, in February 2023, South Korean startup Rebellions launched a new AI chip called Atom, which is designed to compete against U.S. chipmaker Nvidia in the AI chip market. The Atom chip is an inference-only chip that is designed to run computer vision and chatbot AI applications. On the other hand, Europe is estimated to grow steadily during the forecast period, owing to the integration of AI chips in edge devices drives market growth. As industries are extensively investing in AI, IoT, big data, and predictive analytics.

The research offers an analysis of each region and its countries based on segments and their sub-segments to outline steps to be taken to consolidate their presence in the AI chip industry. This analysis is also helpful in determining the highest revenue-generating and fastest-growing segments and taking the next steps accordingly.

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The report offers an extensive analysis of the competitive landscape of the global AI chip market. Some of the major market players in the AI chip market are Advanced Micro Devices, Inc., IBM Corporation, Micron technology, Inc., Qualcomm Incorporated, Xilinx, Inc., Alphabet Inc. (Google), Intel Corporation, NVIDIA Corporation, Samsung electronics Co., Ltd., and Huawei Technologies Co., Ltd. among others.

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About Us:

Next Move Strategy Consulting is a premier market research and management consulting firm that has been committed to provide strategically analyzed well documented latest research reports to its clients. The research industry is flooded with many firms to choose from, what makes Next Move different from the rest is its top-quality research and the obsession of turning data into knowledge by dissecting every bit of it and providing fact-based research recommendations that are supported by information collected from over 500 million websites, paid databases, industry journals and one on one consultations with industry experts across a diverse range of industry sectors. The high-quality customized research reports with actionable insights and excellent end-to-end customer service help our clients to take critical business decisions that enable them to move beyond time and have competitive edge in the industry.

We have been servicing over 1,000 customers globally that includes 90% of the Fortune 500 companies over a decade. Our analysts are constantly tracking various high growth markets and identifying hidden opportunities in each sector or the industry. We provide one of the industry’s best quality syndicates as well as custom research reports across 10 different industry verticals. We are committed to deliver high quality research solutions in accordance to your business needs. Our industry standard delivery solutions that range from the pre consultation to after-sales services, provide an excellent client experience and ensure right strategic decision making for businesses.

CONTACT: Joseph Lawrence Head - Client Engagement & Servicing Next Move Strategy Consulting E-Mail: [email protected] Direct: +1-217-650-7991 You can also email us at - [email protected] Website: www.nextmsc.com

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