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AI Chips Market to Grow by USD 389.25 Billion (2024-2028), Driven by Rising Adoption in Data Centers, Market Evolution Powered by AI – Technavio

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NEW YORK, Nov. 21, 2024 /PRNewswire/ — Report on how AI is driving market transformation – The global artificial intelligence (AI) chips market size is estimated to grow by USD 389.25 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of over 68.13% during the forecast period. Increasing adoption of ai chips in data centers is driving market growth, with a trend towards convergence of AI and IoT. However, dearth of technically skilled workers for ai chips development poses a challenge.Key market players include Advanced Micro Devices Inc., Alphabet Inc., Baidu Inc., Broadcom Inc., Cerebras, Fujitsu Ltd., Graphcore Ltd., Huawei Technologies Co. Ltd., Intel Corp., International Business Machines Corp., MediaTek Inc., Microchip Technology Inc., NVIDIA Corp., NXP Semiconductors NV, Qualcomm Inc., SambaNova Systems Inc., Samsung Electronics Co. Ltd., SenseTime Group Inc., Taiwan Semiconductor Manufacturing Co. Ltd., and Tesla Inc..

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Artificial Intelligence (Ai) Chips Market Scope

Report Coverage

Details

Base year

2023

Historic period

2018 – 2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 68.13%

Market growth 2024-2028

USD 389251.3 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

53.8

Regional analysis

North America, Europe, APAC, South America, and Middle East and Africa

Performing market contribution

North America at 51%

Key countries

US, China, UK, Germany, and Taiwan

Key companies profiled

Advanced Micro Devices Inc., Alphabet Inc., Baidu Inc., Broadcom Inc., Cerebras, Fujitsu Ltd., Graphcore Ltd., Huawei Technologies Co. Ltd., Intel Corp., International Business Machines Corp., MediaTek Inc., Microchip Technology Inc., NVIDIA Corp., NXP Semiconductors NV, Qualcomm Inc., SambaNova Systems Inc., Samsung Electronics Co. Ltd., SenseTime Group Inc., Taiwan Semiconductor Manufacturing Co. Ltd., and Tesla Inc.

Market Driver

Artificial Intelligence (AI) is revolutionizing industries from healthcare to retail, finance, and automotive. Deep learning and machine learning algorithms require powerful hardware components like AI chips. Advanced Micro and Nvidia lead the market with their Trainium2 chip and A100 chip, respectively. Quantum computing and highbandwidth memory are the next frontiers. Major cloud providers like Microsoft Azure, Amazon Web Services, and Google Cloud offer AI technologies. Edge computing reduces latency for real-time applications. AI chip lines, including CPU, GPU, FPGA, and ASICs, power data processing in centralized cloud servers and edge devices. Emerging trends include generative AI, cognitive computing, and image recognition. Ethical concerns are rising as AI is integrated into everyday life, from wearable devices to smart homes and connected cars. Energy efficiency is crucial as AI data centers grow. Patent filings for AI technologies are surging. ML and DL are key to computer vision, pose detection, and behavioral pattern analysis. AI applications in healthcare, elder care, and IoT devices are transforming industries. Industry 4.0 and smart manufacturing machines benefit from AI and parallel computing. Despite advancements, system failure and malfunctioning remain concerns. Mobile applications, health monitoring, and personalized health treatments are driving demand. ML and DL are essential for big data processing and AI applications. AI chips, GPUs, FPGAs, CPUs, DSPs, and microcontrollers power various applications, from graphic applications to frame buffer and display devices. Theoretical and algorithmic basis are crucial for visual understanding and human-like AI.

The Internet of Things (IoT) market is experiencing significant growth due to the numerous advantages it offers in various industries such as aerospace and defense, automotive, consumer electronics, healthcare, and others. IoT devices, which include cameras, drones, smart speakers, smartphones, smart TVs, and more, are making decisions based on data they receive without human intervention. To enable power-efficient data processing and machine learning computation in these devices, IoT manufacturers are integrating Artificial Intelligence (AI) chips. This integration allows IoT devices to perform complex tasks and learn from data, enhancing their functionality and value to users. The demand for AI chips in IoT devices is expected to continue growing as the market expands.

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Market Challenges

Artificial Intelligence (AI) is revolutionizing industries from healthcare to retail, finance, and automotive. However, the growth of AI technologies relies heavily on the development of efficient AI chips. These hardware components, including CPUs, GPUs, FPGAs, and ASICs, power deep learning and machine learning algorithms. Companies like Advanced Micro Devices and Nvidia are leading the AI chip market with their Trainium2 chip and A100 chip, respectively. However, challenges persist. Energy efficiency is a major concern as AI applications require high computing power, leading to increased energy consumption. Quantum computing and generative AI are pushing the boundaries of AI technologies, requiring even more powerful chips. Ethical concerns also arise as AI is integrated into various industries, from healthcare to manufacturing. Major cloud providers like Microsoft Azure, Amazon Web Services, and Google Cloud are investing in AI data centers, while edge computing gains popularity for real-time applications. Edge devices, such as IoT devices and autonomous vehicles, require specific integrated chips for data processing. As AI applications expand, so do the challenges. System failure and malfunctioning are concerns for mobile applications, while big data requires advanced parallel computing capabilities. Patent filing and theoretical/algorithmic basis are crucial for the development of AI technologies. In conclusion, the AI chip market is evolving rapidly, with companies investing in high-performance chips to meet the demands of various industries. However, challenges such as energy efficiency, ethical concerns, and system failure must be addressed to ensure the continued growth of AI technologies.The AI chips market is witnessing significant expansion due to the potential financial gains that businesses can reap from artificial intelligence. However, the absence of a sufficient workforce with technical expertise in AI is posing a significant challenge to market growth. Companies are keen on integrating AI into their operations but face high research and development costs and the need for information from experienced AI professionals. The scarcity of talent with the necessary knowledge of AI technology is currently impeding the growth of enterprise AI applications.

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Segment Overview

This artificial intelligence (ai) chips market report extensively covers market segmentation by

Product1.1 ASICs1.2 GPUs1.3 CPUs1.4 FPGAsEnd-user2.1 Media and advertising2.2 BFSI2.3 IT and telecommunication2.4 OthersGeography3.1 North America3.2 Europe3.3 APAC3.4 South America3.5 Middle East and Africa

1.1 ASICs- Artificial Intelligence (AI) chips, specifically Application-Specific Integrated Circuits (ASICs), are becoming increasingly popular in data center applications due to their superior performance and speed. ASICs are customized, non-configurable chips that offer an instruction set and libraries for local data processing, acting as an accelerator for parallel algorithms. Google’s Tensor Processing Unit (TPU) is a prime example, designed for deep neural networks and already in use for Google Search and Google Street View. ASICs provide faster performance than GPUs, FPGAs, and CPUs, making them a preferred choice for data centers. TPUs have an instruction set that allows TensorFlow programs to be modified and new algorithms to be developed, making them a valuable asset for managing data effectively. The use of ASIC-based AI chips is expected to witness significant growth in the forecast period.

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Research Analysis

Artificial Intelligence (AI) Chips Market: The global AI Chips Market is experiencing significant growth due to the increasing adoption of AI technologies in various industries. Deep learning and machine learning algorithms are driving the demand for AI chips, which are specialized hardware components designed to accelerate AI computations. These chips are essential for robotics, quantum computing, and advanced AI applications. The market includes CPU, FPGA, GPU, System on Chip (SoC), and Multichip Module (MCM) solutions. AI chips are finding applications in sectors like healthcare, retail, finance, automotive, autonomous vehicles, IoT devices, and more. High-performance AI chips are crucial for training generative AI models and powering supercomputers. Ethical concerns surrounding AI are also fueling the development of specific integrated circuits. Key technologies include highbandwidth memory and Trainium2 chip. The market is evolving with the shift from cloud to edge computing.

Market Research Overview

Artificial Intelligence (AI) Chips Market: Overview The AI Chips Market is witnessing significant growth due to the increasing demand for advanced AI technologies such as deep learning and machine learning in various industries. AI chips are specialized hardware components designed to accelerate AI algorithms and technologies, including neural networks, quantum computing, and cognitive computing. These chips are essential for powering AI applications in robotics, computer vision, natural language processing, and other fields. The market for AI chips includes various types of hardware components, such as CPUs, GPUs, FPGAs, ASICs, DSPs, and microcontrollers. Companies are investing heavily in the development of AI chip lines, including Nvidia’s A100 chip, Ascend 910B chipset, and H200 chipset, to meet the growing demand for energy-efficient and high-performance AI solutions. AI applications are widespread across industries, including healthcare, retail, finance, automotive, and manufacturing. The use of AI in healthcare for health monitoring, health information access, personalized health, and treatment devices is gaining popularity, especially for the elderly population. In retail, AI is used for customer behavior analysis, inventory management, and personalized marketing. In finance, AI is used for fraud detection, risk assessment, and algorithmic trading. The automotive industry is also adopting AI technologies for autonomous vehicles, advanced driver assistance systems, and connected cars. The use of AI in manufacturing machines, smart homes, and IoT devices is increasing, leading to the growth of AI data centers and edge computing. However, ethical concerns surrounding AI and the potential for system failure or malfunctioning are major challenges for the market. The development of specific integrated chips and multichip modules is a potential solution to address these challenges. The AI Chips Market is expected to continue growing due to the increasing demand for real-time applications, low latency, and big data processing. The market is also being driven by the development of generative AI, large language models, and other advanced AI technologies. The use of AI in mobile applications, gaming consoles, and personal computers is also expected to drive market growth. In conclusion, the AI Chips Market is a rapidly growing market, driven by the increasing demand for advanced AI technologies and applications across various industries. The market is expected to continue growing due to the development of energy-efficient and high-performance AI solutions, the increasing use of AI in various industries, and the growing demand for real-time applications and low latency. However, ethical concerns and the potential for system failure or malfunctioning are major challenges that need to be addressed.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

ProductASICsGPUsCPUsFPGAsEnd-userMedia And AdvertisingBFSIIT And TelecommunicationOthersGeographyNorth AmericaEuropeAPACSouth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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Unimoni Makes a Resounding Debut at the World Travel Market in London

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KOCHI, India, Nov. 22, 2024 /PRNewswire/ — Unimoni, a global leader in financial and travel services, proudly marked a significant milestone by debuting at the prestigious World Travel Market (WTM) in London. This landmark participation underscores Unimoni’s commitment to expanding its horizons and strengthening its international travel and financial ecosystem presence. CA. Krishnan R, Director & CEO, Unimoni India, and Mr John George, Vice President & Business Head of Unimoni Travel and Holidays, represented the company at this three-day event held at Excel London from 5th Nov – 7th Nov 2024. WTM London, renowned as one of the most influential travel expos in the world, provides a premier platform for businesses to showcase their innovative solutions to a global audience.

Unimoni’s first-ever participation in this international event, featuring thousands of exhibitors and tens of thousands of attendees, demonstrates its readiness to offer exceptional services and customer-centric solutions on a broader global stage. As part of the India Tourism contingent, Unimoni India showcased India’s diverse tourism offerings under the ‘Bharat Dekho’ campaign. This featured special packages for ecotourism, weddings, adventure, spirituality, wellness, MICE, and more, catering to a global audience.

Showcasing Excellence at WTM

At WTM London, Unimoni India showcased its comprehensive suite of services that cater to the diverse needs of international travelers. These include:

Travel and Holidays Services: We offer customized holiday packages, flight ticket bookings, hotel reservations, and travel insurance to make every trip, whether international or domestic, memorable and worry-free.Visa Assistance and Certificate Attestation: Expert support for visa processing and documentation, simplifying the complexities of international travel.Foreign Currency Exchange: Competitive rates and a hassle-free process to exchange currencies for a smooth travel experience.Forex Cards: Secure and convenient prepaid cards designed for travelers, ensuring easy access to funds anytime, anywhere.International Money Transfers: Seamless and secure outward remittance solutions tailored to support education, family maintenance, medical expenses, and travel and more.

Visitors to the Unimoni booth were introduced to its end-to-end solutions that blend cutting-edge technology with personalized customer service.

A Commitment to Customer-Centric Excellence

Unimoni has earned its reputation as a trusted financial partner through its unwavering commitment to customer satisfaction. By placing customer needs at the core of its operations, the brand has successfully created a wide-reaching network that spans over 300+ branches and 15,000+ partner locations across India.

This robust infrastructure, combined with an extensive global partner network, allows Unimoni to provide seamless cross-border solutions that are fast, secure, and reliable. At the WTM, this commitment to service excellence was reflected in the brand’s innovative offerings, drawing admiration from both industry experts and attendees alike.

Forging New Partnerships and Exploring Opportunities

Unimoni’s debut at the WTM was more than just an exhibition—it was a strategic initiative to forge partnerships, explore new opportunities, and expand its footprint in international markets. The event allowed Unimoni to connect with global travel experts, industry leaders, and potential collaborators.

A Legacy of Trust and Innovation

With over 25 years of experience, Unimoni has continually evolved to meet the changing demands of its customers. Its innovative use of technology, coupled with its customer-first approach, has made it a preferred choice for millions of individuals and businesses.

Unimoni’s focus on transparency, security, and efficiency has enabled it to deliver top-notch services, particularly in areas such as education-related remittances, medical payments, and travel expenses. Its offerings align perfectly with the needs of modern-day travelers who seek convenience, affordability, and reliability.

Expanding Global Reach Through International Platforms

Unimoni’s participation at the WTM marks a crucial step toward its ambition of expanding its global presence. By leveraging international platforms like WTM, the brand aims to bring its expertise to customers and businesses worldwide.

This move aligns with Unimoni’s vision of becoming a one-stop solution for financial and travel services on a global scale. With a strong foundation in India and growing recognition abroad, Unimoni is poised to redefine the standards of excellence in the industry.

Looking Ahead

As Unimoni India concludes its inaugural presence at the World Travel Market, the brand looks forward to fostering the connections and opportunities established during the event. With plans to further innovate its services and expand its global footprint, Unimoni is set to play a transformative role in the international travel and financial sectors.

Unimoni’s debut at WTM London is not just a celebration of its achievements but also a testament to its commitment to enabling seamless global connectivity for its customers. By integrating financial expertise with a deep understanding of traveler needs, Unimoni is set to continue its journey as a trusted partner for millions worldwide.

About Unimoni India

Unimoni India is a leading provider of financial and travel services, offering a wide range of solutions, including outward remittances, foreign exchange, travel and holiday services, gold loans, forex cards, and more. With over two decades of experience and a customer-centric approach, Unimoni is dedicated to delivering secure and reliable services that empower individuals and businesses alike.

Media Contact: 

Pratheep Thavara
pratheep.thavara@unimoniindia.com  

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Logo: https://mma.prnewswire.com/media/2543135/5043397/Unimoni_Logo.jpg

 

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Real Relax Launches Black Friday Event with Exclusive Deals on Premium Massage Chairs

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RIVERSIDE, S.C., Nov. 22, 2024 /PRNewswire/ — Real Relax , a top online massage chair brand, is committed to offering consumers high-quality, comfortable massage products designed to relieve physical fatigue. With the holiday season approaching, Real Relax has launched its Black Friday event, providing a unique opportunity for consumers in the United States to experience the brand’s innovative products and truly relax. The event will continue through the end of November.

 

Since its inception, Real Relax has been dedicated to innovation, quickly expanding its presence to over 40 countries, including the United States, Canada, the United Kingdom, Australia, Japan, and various regions across Europe and Southeast Asia. The brand’s direct-to-consumer sales model allows customers to enjoy competitive pricing by eliminating the markups usually added by retailers and distributors. For example, while a massage chair with similar features might cost over $5,000 in a physical store, Real Relax offers it for just over $1,000.

This Black Friday, Real Relax is offering a range of massage chairs to American consumers, with items shipped directly from within the United States, making them the perfect holiday gift.

Take the PS5200 4D Massage Chair, for example. This product offers a 4D massage mechanism for a multidimensional experience. Its motor extends rollers 1.1-2.5 inches for a deep Shiatsu and Thai-style massage. With smart muscle fatigue monitoring, it adjusts across five intensity levels, targeting seven body areas, three roller widths, and six massage techniques for a personalized massage. The PS5200 includes 20 auto programs to meet the different needs of customers and a SL-Track system that follows body curves from neck to thighs. Such ergonomic 4D massage mechanism and SL track enhance massage coverage by 50% over standard chairs. Full-body airbags and precision rollers provide targeted relief. The zero-gravity feature simulates weightlessness for ultimate relaxation. Additional features include Bluetooth speakers, Touch Pad interface control, aroma therapy, Thai stretch, and waist/back heating. Originally priced at $7,999.99, the PS5200 is available for $2,999.99 during Black Friday, offering a 63% discount.

Another featured product is the Favor-06 3D Massage Chair. In addition to the SL-Track system, full-body airbag massage, zero gravity, and Thai stretch massage, its 3D massage mechanism fits the user’s body curves perfectly and delivers a comprehensive and intelligent massage, easing tension in the shoulders, spine, lumbar region, and gluteal muscles. With precise body scanning, the system identifies key areas of the neck and back, ensuring optimal pressure throughout the massage. Far-infrared technology enhances blood flow just beneath the skin, reducing muscle fatigue and poor circulation associated with prolonged sitting. It aids in treating lumbar disc herniation, waist and leg pain, and cervical spondylosis. Originally priced at $3,999.99, the Favor-06 is available for $1,699.99 during Black Friday, offering a 58% discount.

In addition to the opportunity to own a massage chair at more than 50% off, consumers can also purchase a select range of products for under $1,500 during Black Friday.

About Real Relax

Founded in 2015, Real Relax introduced the Favor series with FAVOR-01, and later expanded to the FAVOR and PLATINUM series, offering 2D, 3D, and 4D massage chairs. The brand is dedicated to offering products that provide true relaxation, turning massage items into household essentials for both physical and mental well-being. With over a decade of growth, the brand has secured numerous patents and ranks among the top five products by online customers. As a leading massage chair brand on Amazon and recommended by Walmart, Real Relax has sold over two million units globally. With the advantage of its owned factories, Real Relax enables customized requests and ongoing product enhancements based on customer feedback.

For more details, please visit:
Official website: https://realrelaxmall.com/
Facebook: https://www.facebook.com/realrelaxofficialservice
YouTube: https://www.youtube.com/@realrelaxmassage
Instagram: https://www.instagram.com/realrelaxoffical/

 

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Sungrow Partners with Zenith Energy to Power Australia’s Largest Off-Grid Hybrid Project for Mining Operations at Kathleen Valley

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SYDNEY, Nov. 22, 2024 /PRNewswire/ — Sungrow, a global leading PV inverter and energy storage system provider, is proud to announce its pivotal role in the Kathleen Valley Operation, Australia’s largest off-grid hybrid renewable energy system. Developed in collaboration with Zenith Energy and Liontown Resources, this landmark initiative sets a new precedent for integrating renewable energy solutions in the mining sector, driving sustainable practices, and reducing environmental impacts in one of Australia’s most significant industries.

Australia’s mining sector continues to play a vital role in the economy, contributing 10-11% to the nation’s GDP and generating a record $455 billion in export revenue in 2022-23, according to the Australian Bureau of Statistics. Kathleen Valley, located in a remote region of Western Australia, is far from an established power infrastructure but rich in abundant mining resources, utilizing off-grid energy solutions essential for reliable and continuous mining operations. The renewable off-grid solution will reduce reliance on costly and polluting diesel fuel, lower greenhouse gas emissions, and cut energy costs. As Australia moves toward sustainable practices, it also helps mining companies comply with stricter environmental regulations and enhance the overall sustainability of their operations.

This project features an advanced hybrid power system that integrates 17 MW / 20 MWh of battery storage, 17 MW of solar energy, and 30 MW of wind power. Additionally, the system includes 32 MW of thermal generation, comprising 27 MW of gas and 5 MW of diesel. The project applied Sungrow’s SG350HX string inverter, SC4000UD-MV power conversion system, and ST2236UX PowerTitan liquid cooling energy storage system to provide a highly efficient renewable energy solution, supporting sustainability and energy optimization for mining operations. These advanced systems have powered the entire site on 100% renewables continuously for three and a half days since being commissioned on 30 June this year. The system design will enable delivery of up to an 80% renewable energy fraction over the course of a year significantly reducing its carbon footprint and setting new benchmarks for environmentally responsible mining.

The country director of Sungrow Australia, Joe Zhou, said, “We are proud to collaborate with Zenith Energy and Liontown Resources on this transformative project. By integrating advanced renewable solutions, we are driving the mining industry’s energy transition and demonstrating the power of sustainable innovation in one of Australia’s key economic sectors.”

Sungrow, Zenith Energy, and Liontown Resources are leading the charge in transforming Australia’s mining industry by integrating renewable energy systems into mining operations. As Australia works towards achieving its net-zero goals by 2050, this project serves as a benchmark for integrating renewables into traditionally hard-to-decarbonize sectors like mining. Looking ahead, Sungrow is committed to delivering innovative and sustainable solutions across diverse industries.

About Zenith Energy

Zenith Energy is one of Australia’s foremost Independent Power Producers, with a contracted and in-development portfolio exceeding 710 MW. Dedicated to supporting clients on their journey to net-zero, Zenith combines thermal and renewable fuel sources with innovative technology to deliver cost-effective, reliable power solutions. Offering a full-service Build–Own–Operate model, Zenith Energy specializes in customized microgrids for remote off-grid sites and grid-connected precincts. This unique approach positions Zenith as a leader in integrating sustainable energy with innovative systems to meet the demands of Australia’s evolving energy landscape. For more information, please visit www.zenithenergy.com.au

About Sungrow

Sungrow, a global leader in renewable energy technology, has pioneered sustainable power solutions for over 27 years. As of June 2024, Sungrow has installed 605 GW of power electronic converters worldwide. The Company is recognized as the world’s No. 1 on PV inverter shipments (S&P Global Commodity Insights) and the most bankable Asian energy storage company (BloombergNEF). Its innovations power clean energy projects in over 170 countries, supported by a network of 490 service outlets guaranteeing excellent customer experience. At Sungrow, we are committed to bridging to a sustainable future through cutting-edge technology and unparalleled service. For more information, please visit www.sungrowpower.com

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