Global Artificial Intelligence Chip Market to Reach USD 173.5 Billion by 2033, Propelled by Significant Growth in BFSI Sector

November 13, 2024 | Technology & Media

According to the latest report by IMARC Group, titled "Artificial Intelligence Chip Market Report by Chip Type (GPU, ASIC, FPGA, CPU, and Others), Technology (System-on-Chip (SoC), System-In-Package (SIP), Multi-Chip Module, and Others), Processing Type (Edge, Cloud), Application (Natural Language Processing (NLP), Robotics, Computer Vision, Network Security, and Others), Industry Vertical (Media and Advertising, BFSI, IT and Telecom, Retail, Healthcare, Automotive and Transportation, and Others), and Region 2025-2033," the global artificial intelligence chip market size reached USD 23.7 Billion in 2024. Artificial intelligence (AI) chip, also known as AI accelerator, is an integrated circuit designed to perform the complex calculations needed for machine learning (ML) and AI tasks, such as image and speech recognition and natural language processing (NLP). It is designed to handle the massive amount of data and process data much faster and more efficiently as compared to the traditional central processing unit (CPU). AI chip is widely integrated with smartphones as it offers usability, data privacy, and security.

Global Artificial Intelligence Chip Market Trends:

The increasing volume of information generated by businesses, consumers, and connected devices represents one of the major factors driving the demand for AI chips around the world. Moreover, the rising use of AI chips in the banking, financial services and insurance (BFSI) industry to identify and prevent fraudulent activities, such as credit card fraud, money laundering, and identify potential risks, is augmenting the market growth. In addition, there is an increase in the utilization of AI chips in the automotive industry to enable autonomous driving in vehicles and power driver assistance features, including lane departure warnings, adaptive cruise control, and automatic emergency braking. This, coupled with the growing sales of autonomous vehicles (AVs) due to rapid urbanization and inflating income levels, is influencing the market positively. Apart from this, AI chip is employed in the e-commerce industry to extract specific insights and improve customer engagement. This, along with the increasing reliance on online shopping, is strengthening the growth of the market. On account of the aforementioned factors, the market is anticipated to reach a value of USD 173.5 Billion by 2033, exhibiting a CAGR of 24.8% during 2025-2033.

Market Summary:

On the basis of the chip type, the market has been segmented into GPU, ASIC, FPGA, CPU, and others. Presently, GPU holds the largest market share.
Based on the technology, the market has been categorized into system-on-chip (SoC), system-in-package (SIP), multi-chip module, and others. System-on-chip (SoC) currently accounts for the biggest market share.
On the basis of the processing type, the market has been bifurcated into edge and cloud. At present, cloud dominates the market.
Based on the application, the market has been segregated into natural language processing (NLP), robotics, computer vision, network security, and others. Natural language processing (NLP) exhibits a clear dominance in the market.
On the basis of the industry vertical, the market has been classified into media and advertising, BFSI, IT and telecom, retail, healthcare, automotive and transportation, and others. BFSI currently represents the biggest market segment.
Based on the region, the market has been divided into North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others); Europe (Germany, France, United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico and others); and the Middle East and Africa. Amongst these, North America (the United States and Canada) enjoys the leading position in the market.
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market. Some of the key players include Advanced Micro Devices Inc., Huawei Technologies Co. Ltd., Intel Corporation, LG Electronics Inc. (LG Corporation), Mediatek Inc., Micron Technology Inc., Mythic Inc., Nvidia Corporation, NXP Semiconductors N.V., Qualcomm Technologies Inc, SK hynix Inc., and Toshiba Corporation.

Report Scope:

Report Features	Details
Base Year of the Analysis	2024
Historical Period	2019-2024
Forecast Period	2025-2033
Units	Billion USD
Segment Coverage	Chip Type, Technology, Processing Type, Application, Industry Vertical, Region
Region Covered	Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered	United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Companies Covered	Advanced Micro Devices Inc., Huawei Technologies Co. Ltd., Intel Corporation, LG Electronics Inc. (LG Corporation), Mediatek Inc., Micron Technology Inc., Mythic Inc., Nvidia Corporation, NXP Semiconductors N.V., Qualcomm Technologies Inc, SK hynix Inc. and Toshiba Corporation
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Post-Sale Analyst Support	10-12 Weeks
Delivery Format	PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

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Global Artificial Intelligence Chip Market to Reach USD 173.5 Billion by 2033, Propelled by Significant Growth in BFSI Sector

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