Machine learning is a sub-set of artificial intelligence which performs tasks related to AI. It is currently being approved by numerous industries everywhere in world. This technology uses procedures and computational methods to teach processors to think the way individuals and animals may react in a specific situation. The presentation of this machine learning procedure can be better by growing the number of trials.
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The key factors that drive the growth of the global machine learning chip market are emergence of quantum computing, growth in number of machine learning applications, and trend in artificial intelligence (AI). However, lack of skilled workforce and AI Phobia hinders the market growth to a certain extent. The market has observed significant growth, owing to rise in demand for smart homes & smart cities, rise in efforts to make more human-like robots and popularity of IoT across the globe.
The trend in artificial intelligence (AI), use of machine learning in numerous applications, and emergence of quantum computing are the factors which increase the demand for machine learning chip market. In addition, the expansion of autonomous robots that control themselves without human interference is predicted to provide potential growth openings for the market. Each of these factors is anticipated to have a definite impact on the machine learning chip market during the forecast period.
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The market is segmented on the basis of, chip type, technology, industry vertical, and geographical region. On the basis of chip type, the market is segmented into GPU, ASIC, FPGA, CPU and others. On the basis of technology, the global machine learning chip market is segmented into system-on-chip (SoC), system-in-package (SIP), multi-chip module, and others. By industry vertical, machine learning chip market can be segmented into BFSI, IT & telecom, media & advertising, automotive & transportation, retail, healthcare, and others. Based on industry vertical, the BFSI segment dominated the global machine learning chip market in 2017. However, the others segment is expected to grow at the highest CAGR during the forecast period.
By geographical region the global machine learning chip market is split up into North America, Europe, Asia Pacific, Middle East & Africa and South America. North America is expected to have largest machine learning chip market share during estimated period and is expected to witness significant growth owing to the presence of large manufacturing in this region. The region, along with Europe, is one of the developers in adopting new technologies, which is also one of the key factors for the high CAGR in this region.
Acquisitions and Merger, new product introductions, investments, and corporations & developments are the key strategies adopted by market companies to ensure their growth in the machine learning chip market. The key players are Advanced Micro Devices, Inc, Wave Computing, Graphcore, Intel Corporation, Google Inc., International Business Machines (IBM) Corporation, Qualcomm Technologies, Inc., Nvidia Corporation, Taiwan Semiconductor, and XILINX Inc., Samsung Electronics (South Korea), Micron Technology (US), Qualcomm (US), are some major players in the machine learning chip market.
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