Machine Learning Chip Market Forecast 2024-2033: Anticipated Size and Growth Trends
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What is the Expected Growth Rate of the Machine Learning Chip Market from 2024 to 2033?
The machine learning chip market will grow from $15.28 billion in 2023 to $21.12 billion in 2024, at a CAGR of 38.3%. The growth is attributed to the rise of big data analytics, the increasing adoption of cloud services, the emergence of edge computing, and the growing AI applications across various industries.
The machine learning chip market is projected to reach $75.17 billion by 2028, growing at a CAGR of 37.4%. Growth is fueled by the integration of AI in edge devices, the increasing complexity of AI algorithms, a focus on energy efficiency, and the global push for autonomous systems. Major trends include technological partnerships, AI R&D investments, advancements in AI, and open-source hardware initiatives.
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What Key Factors Are Fueling the Growth of the Machine Learning Chip Market?
The increase in cyberattacks is expected to propel the machine learning chip market forward. Cyberattacks target systems and devices to compromise or disrupt them, and machine learning chips assist in cybersecurity by enabling algorithms to assess data, identify patterns, and predict potential threats. In 2022, the Australian Cyber Security Centre reported 76,000 cybercrime incidents, up 13% from the previous year, and the Anti-Phishing Working Group saw a 15% rise in phishing attacks, recording over 1 million in the first quarter of 2022. Therefore, increasing cyber threats are driving the machine learning chip market.
What Are the Major Segments of the Machine Learning Chip Market?
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
What New Trends Are Transforming the Machine Learning Chip Market?
Companies in the machine learning chip market are focusing on creating innovative products, such as advanced system-on-chips (SoCs), to maintain their market position. An SoC is an integrated circuit that consolidates all components of an electronic system onto one chip. In January 2022, UK-based Silicon Labs introduced new AI/ML chips and an edge toolkit designed to support AI and machine learning at the IoT edge. This wireless SoC integrates an AI accelerator, wireless radio, ultra-low-power capabilities, and IP-based connectivity like Matter and Zigbee.
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Which Regions Are Driving Growth in the Machine Learning Chip Market?
North America was the largest region in the machine learning chip market in 2023. The regions covered in the machine learning chip market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The Machine Learning Chip Global Market Report 2024 offers a comprehensive overview of the audio equipment market, covering historical data from 2010 to 2021 and providing a ten-year forecast from 2023 to 2032. This report examines the size of the machine learning chip market, its market share, and analyzes key competitors along with their market positions.
The Table Of Content For The Machine Learning Chip Market Include
1. Machine Learning Chip Market Executive Summary
2. Machine Learning Chip Market Segments
3. Machine Learning Chip Market Size And Template Market Growth Rate
4. Key Machine Learning Chip Market Trends
5. Major Machine Learning Chip Market Drivers
……
25. Key Mergers And Acquisitions In The Machine Learning Chip Market
26. Top Machine Learning Chip Companies
27. Machine Learning Chip Market Opportunities And Strategies
28. Machine Learning Chip Market, Conclusions And Recommendations
29. Appendix
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