Machine Learning Chips Market Scope
Machine learning chip is the hardware accelerator or application-based computer system designed to accelerate machine learning applications. Machine learning applications involve algorithms for robotics, the internet of things and other data-intensive or sensor-driven tasks. These chip provides much more data security, latency and consumes much less power. They are designed to do certain AI problems faster at lower power than traditional processors. In the market, more than 100 companies are working on building next-generation chips and hardware architecture that would match the capabilities of algorithms. These machine-learning chips are capable of enabling deep learning applications on smartphones and other edge computing devices. The companies are using machine learning technology to improve business decisions, increase productivity, and detect disease, forecast weather, and others. The applications of machine learning involve virtual personal assistants, predictions while commuting, video surveillance, social media services, email spam and malware filtering, online fraud detection, and others.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Key Companies Profiled | Wave Computing Inc. (United States), Graphcore (United Kingdom), IBM (United States), Alphabet (United States), Qualcomm Technologies Inc. (United States), Intel Corporation (United States), NVIDIA Corporation (United States) and Taiwan Semiconductor Manufacturing Company Limited (China) |
CAGR | % |
The global machine learning chips market is strongly competitive and having a few key players. In concerns of the market share, some of the leading players are highly dominating the global machine learning chips market. The market players operating in this market are focusing on the growth of strategic initiatives to enhance their market share and improve their profitability. Research Analyst at AMA estimates that United States Players will contribute to the maximum growth of Global Machine Learning Chips market throughout the predicted period.
Wave Computing Inc. (United States), Graphcore (United Kingdom), IBM (United States), Alphabet (United States), Qualcomm Technologies Inc. (United States), Intel Corporation (United States), NVIDIA Corporation (United States) and Taiwan Semiconductor Manufacturing Company Limited (China) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research are Xilinx, Inc. (United States) and Cerebras Systems (United States).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Machine Learning Chips market by Type and Region with country level break-up.
On the basis of geography, the market of Machine Learning Chips has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
region held largest market share in the year 2023.
Market Leaders and their expansionary development strategies
In June 2023, Navidia in February acquired OmniML a two year artificial intelligence Startup whose.
In March 2024, Artificial intelligence startup Cerebra's Systems announced a new version of its dinner-plate-sized chips on Wednesday, claiming the hardware will offer twice the performance for the same price as its predecessor
Influencing Trend:
Rising Demand from Mobile Phones and Huge Acceptance of Smart Devices
Market Growth Drivers:
Rising Demand for Machine Learning Chips Owing to the Development of Autonomous Robots and Vehicles that Control themselves ithout Human Intervention also Propelling the Market Growth
Challenges:
High Susceptibility to Errors and Absence of Standards and Protocols
Restraints:
Lack of Skilled Workforce in the Market and Rising Requirement of Massive Data Sets
Opportunities:
Technological Advancement in Micro Electronic and Wireless Chips
Key Target Audience
Venture Capitalists and Private Equity Firms, New Entrants/Investors, Analysts and Strategic Business Planners, Machine Learning Chips Manufacturers, Suppliers and Distributors, Raw Material Suppliers, Government Regulatory and Research Organizations and End-Use Industries