deep learning chip market
The market size of deep learning chips is expected to grow significantly due to the advent of quantum computing and increasing implementation of deep learning chips in robotics. North America has the highest adoption rate of deep learning chips. On the other hand, the Asia-Pacific region is expected to grow at a faster pace and is predicted to have favorable growth.
Allied Market According to a recent report published by Research titled “Deep Learning Chip Market by Chip Type, Technology and Industry: Global Opportunity Analysis and Industry Forecast, 2021-2030”, the deep learning chip market was valued at $4,465.2 million in 2020 and is projected to reach $81,776.8 million by 2030, registering a CAGR of 35.2% from 2021. From 2021 to 2030.
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Deep learning is a branch of machine learning based on artificial neural networks. Deep learning algorithms use neural networks to find associations between a set of inputs and outputs. Deep learning is a special type of machine learning that achieves great power and flexibility by learning to represent the world as a nested hierarchy of concepts. It powers some of the world’s most interesting applications, such as self-driving cars and real-time translation. Applications where deep learning chips are widely used include healthcare, automotive, retail, IT and communications, and industry. The automobile industry is expected to grow at a significant growth rate during the forecast period.
The constantly evolving retail, automotive, and healthcare industries are major drivers of the growth of the deep learning chip market. Additionally, the rise in electric vehicles and emergence of quantum computing, increasing number of AI applications, and development of smarter robots are driving the growth of the deep learning chip market. However, lack of skilled workforce is expected to hinder the growth of the deep learning chip market.
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The deep learning chip market by GPU chip type contributed the most to the market in terms of revenue, accounting for around 34.1% share in 2020. Factors such as the development of smarter robots and increasing adoption of deep learning chips in developing regions are driving market growth. Deep learning chips with system-on-chip technology is expected to dominate the market growth during the forecast period.
Impact of the new coronavirus infection
The coronavirus disease (COVID-19) is impacting the global electronics and semiconductor sector, causing production facilities and new projects to come to a halt. Although the growth of the deep learning chip market in 2020 slowed due to the emergence of the new coronavirus infection (COVID-19), it is estimated that significant growth is expected until the end of 2021. The implementation of partial or complete lockdowns across countries is the main reason for the decline in growth rates.
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Main results of the study
By chip type, the GPU segment generated the highest revenue in the deep learning chip market in 2020.
By technology, the system-on-chip segment held the largest market share revenue in the deep learning chip market in 2020.
By industry sector, the automotive sector is expected to witness significant growth during the forecast period.
The major companies operating in this market are AMD (Advanced Micro Devices), Google, Inc., Intel Corporation, NVIDIA, Baidu, Bitmain Technologies, Qualcomm, Amazon, Xilinx, and Samsung. These leading companies are adopting strategies such as product portfolio expansion, mergers and acquisitions, agreements, regional expansion, and collaborations to enhance their market penetration.
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Allied Market Research (AMR) is the full-service market research and business consulting division of Allied Analytics LLP, based in Portland, Oregon. Allied Market Research provides unparalleled quality of Market Research Reports and Business Intelligence Solutions to global corporations and small businesses. AMR has a focused perspective in providing business insights and consulting to help clients make strategic business decisions and achieve sustainable growth in their respective market areas.
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