The Asia Pacific Machine Learning Chip Market would witness market growth of 22.7% CAGR during the forecast period (2024-2031).
The China market dominated the Asia Pacific Machine Learning Chip Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $3,338.6 million by 2031. The Japan market is registering a CAGR of 21.9% during (2024 - 2031). Additionally, The India market would showcase a CAGR of 23.6% during (2024 - 2031).
These chips are essential in the robotics and industrial automation sectors, where they control robotic arms, drones, and other automated systems. These chips enable robots to learn from their environment, adapt to new tasks, and make real-time decisions without human intervention. ML chips are increasingly integrated into smart factories, where they help streamline production processes and improve efficiency.
The adoption of these chips has been accelerating, driven by the growing demand for AI-powered applications across various industries. As the volume of data generated by businesses, devices, and consumers grows exponentially, the demand for efficient data processing solutions becomes more urgent. With their ability to handle large datasets and complex computations, these chips are essential in managing this data deluge. Companies across sectors adopt these chips to enable faster processing and real-time decision-making.
The significant growth in India's BFSI sector and the booming IT industry in China are critical drivers for expanding this market. India's banking sector, renowned for its stability, has witnessed remarkable growth. From FY 16 to FY 21, the percentage of people with bank accounts surged from 53% to 78%. The country boasts over 1.6 lakh bank branches, translating to approximately 15 branches per 100,000 people. The IT industry's expansion is closely tied to adopting ML technologies for data analysis, cybersecurity, automation, and software development. These applications require efficient and high-performance ML chips to handle extensive data processing and sophisticated computational tasks. The escalating growth of China's IT industry thus propels the demand for ML chips, fostering advancements and increasing the market's overall growth trajectory. Thus, the rising BFSI sector in India and the booming IT industry in China are pivotal in driving the growth of the machine learning chip market.
Free Valuable Insights: The Global Machine Learning Chip Market is Predict to reach USD 45.0 Billion by 2031, at a CAGR of 22.0%
Based on Technology, the market is segmented into System-on-Chip (SoC), System-in-Package, Multi-chip Module, and Other Technology. Based on Chip Type, the market is segmented into GPU Chip, ASIC Chip, CPU Chip, FPGA Chip, Flash-Based Chip, Neuromorphic Chip, and Others. Based on Industry Vertical, the market is segmented into IT & Telecom, Consumer Electronics, BFSI, Retail, Automotive, Healthcare, Media & Advertising, Robotics Industry, and Others. Based on countries, the market is segmented into China, Japan, India, South Korea, Australia, Malaysia, and Rest of Asia Pacific.
By Technology
By Chip Type
By Industry Vertical
By Country
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