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(IT-NEWSWIRE.COM, May 15, 2019 ) North America is the leading geographic region in the artificial intelligence chip market and is anticipated to be the largest revenue contributor throughout the forecast period. In North America, artificial intelligence implementation is backed by large-scale investments from technological giants. North America’s artificial intelligence chip market is primarily driven by the growing demand of artificial intelligence solutions from the BFSI, retail, IT & Telecom and automotive & transportation. A large number of well-funded start-ups have already entered the marketplace with their innovative artificial intelligence based solutions and services. In addition to this, North America also has a well-established cloud infrastructure which is driving the growth of artificial intelligence chip market. With tech giants like NVIDIA, Google, Apple present in the U.S and their focus on artificial intelligence R&D and deployment, U.S. is expected to be the dominant country in the artificial intelligence chip market during the forecast period.
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With the availability of enormous amount of data and vast scalability of cloud-based compute power, artificial intelligence has become a huge trend across industries in these past few years. In today’s digital world, information is the key for enterprises to be successful and to maintain sustainable growth. Most industries especially service sector rely deeply on analytics to provide them with useful business insights and enable them to remain competitive in the market. Enterprises have been continuously automating their business processes that were earlier conducted either programmatically or manually. With advancements in AI chips and introduction of application-specific custom chips, enterprises now have the capability to collect real-time analytics and to transform their data into actionable insights. There are numerous use cases available in the market of AI being successfully implemented across industry verticals. The rising adoption of artificial intelligence among North American countries is set to nurture the artificial intelligence chip market in this region during the forecast period.
Market initiatives by the players propelling the growth of Artificial Intelligence Chip market
In the global artificial intelligence chip market, new market initiative is a strategy adopted by various companies to expand their footprint across the world and meet the growing demand of customers. The market players present in the artificial intelligence chip market are mainly focusing towards product enhancements by implementing advanced technologies. By signing partnership, contracts, joint ventures, and funding, companies are expanding their footprint in the artificial intelligence chip market. Most of the artificial intelligence chip market initiatives were observed in Asia Pacific, North America, and Europe regions, which have high density of AI implementations.
Segment by Type Insights
The artificial intelligence chip market is bifurcated by segment into Data center/Cloud and edge. Artificial intelligence is one of the most disruptive technologies in today’s digital world and hence AI chips are the most disruptive hardware. Artificial intelligence chips are majorly used for training and inference purposes in data center/cloud computing. However, with recent breakthroughs, AI chips have evolved to cater a wide range of applications especially inference at the edge. With tech giants like NVIDIA, Apple, Google, Huawei, and Intel among others investing in edge inferencing, the edge segment is going to drive the growth of artificial intelligence chip market through adoption of specialized AI chips and accelerators during the forecast period.
Segment by End-User Insights
On the basis of industry vertical, the global artificial intelligence chip market is categorized into BFSI, Retail, IT & Telecom, Automotive & Transportation, Healthcare, Media & Entertainment and Others. The others segment include public utilities, government, education, oil & power, and manufacturing among others. Artificial intelligence allows businesses to prioritize and automate decision making, analyze big complex structured and unstructured data to provide deeper insights, and improve efficiency by accurate planning. Industry verticals such as banking and retail generate huge amount of data ranging from operations data to customer feedbacks. Availability of huge data is a perfect opportunity for application of artificial intelligence in various business processes. AI applications such as machine learning, computer vision and, anomaly detection algorithms can be applied for quality control in various industries.
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The Insight Partners
Sameer Joshi
+1-646-491-9876
sam@theinsightpartners.com
Source: EmailWire.Com 
Source: EmailWire.com
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