According to a new report, published by KBV research, The Global Machine Learning Chip Market size is expected to reach $45.0 billion by 2031, rising at a market growth of 22.0% CAGR during the forecast period.
The System-on-Chip (SoC) segment is experiencing a CAGR of 21.3 % during the forecast period. SoCs integrate multiple components, including processors, memory, and I/O functions, onto a single chip. This integration leads to improved efficiency, lower power consumption, and a smaller footprint, which are essential for performing ML applications across various industries such as consumer electronics, automotive, and data centers.
The GPU Chip segment led the maximum revenue in the Global Machine Learning Chip Market by Chip Type in 2023, thereby, achieving a market value of $11.2 billion by 2031. . Graphics Processing Units (GPUs) are highly specialized for parallel processing. They are particularly well-suited for the large-scale computational needs of ML algorithms, especially in deep learning and neural network applications. GPUs handle the intensive matrix and vector operations required by ML models, providing a significant performance boost compared to CPUs in many tasks.
The IT & Telecom segment is growing at a CAGR of 20.6 % during the forecast period. This sector has been a major driver of demand for machine learning chips due to the increasing reliance on data analytics, network optimization, and automation in telecommunications and IT infrastructure. ML chips are crucial in improving network performance, enhancing security through anomaly detection, and enabling faster data processing for cloud computing services.
Full Report: https://www.kbvresearch.com/machine-learning-chip-market/
The North America region dominated the Global Machine Learning Chip Market by Region in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $16.1 billion by 2031. The Europe region is anticipated to grow at a CAGR of 21.6% during (2024 - 2031). Additionally, The Asia Pacific region would witness a CAGR of 22.7% during (2024 - 2031).
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