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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..

Key insights into market evolution with AI-powered analysis. Explore trends, segmentation, and growth drivers- View Free Sample PDF

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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SOURCE Technavio

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New Survey Shows TikTok Has Major Influence on Holiday Gift Ideas, With 55% Stating They Have Already Found Ideas on the Platform This Season

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Data also reveals the impact of content on purchasing decisions, with 69% of those surveyed placing importance on product videos, unboxings and user reviews before purchasing a holiday gift on the platform

BALTIMORE, Nov. 22, 2024 /PRNewswire/ — With the season’s biggest shopping holiday around the corner, marketing agency MGH today revealed the results of a new survey highlighting TikTok’s influence on holiday gift idea generation. The survey found that more than half (55%) of survey respondents stated they have already found ideas for holiday gifts this year while scrolling on the popular platform, and 39% have purposefully searched TikTok for holiday gift ideas. 

TikTok users are looking for gift ideas in many different categories. Those who have already found or searched TikTok for holiday gifts this year were looking for food and beverage gifts (45%), personalized gifts (42%), technology gadgets (41%), beauty and skincare products (39%); clothing and accessories (39%); DIY gifts (38%); home decor and lifestyle items (36%); and experiences (36%). Additionally, 33% of respondents were seeking toys and games for children.

Not only will these survey respondents search for gifts on TikTok, but they will often purchase items directly on the platform. In fact, 47% percent of respondents have purchased items for themselves on the TikTok Shop, and 37% have purchased items for others on the TikTok Shop.

When it comes to the influence of content on TikTok, videos of unboxings, user experiences and reviews greatly impact purchasing decisions. Overall, 69% of respondents found these videos important when deciding whether to purchase an item.

“With more than 170 million users in the U.S. and expectations that TikTok sales will rise tenfold this year to $17.5 billion, this survey demonstrates the undeniable influence TikTok will have on holiday gift idea generation and purchasing decisions this season,” commented Ryan Goff, EVP, Chief Marketing Officer and Social Media Marketing Director at MGH. “Content creators and businesses alike should take note of the opportunity the platform presents, and the impact that compelling content and reviews have on purchasing decisions as we dive head first into the competitive holiday season.”

Results were collected on Nov. 13, 2024 and are based on 1,142 U.S. adults ages 18+ who watch TikTok videos. The survey was conducted via the SurveyMonkey Audience Panel by MGH, a full-service marketing agency specializing in TikTok and social media marketing. The survey results have a +/- 2.959% margin of error.

To read more about the survey results, visit our blog.

About MGH
Based in Hunt Valley, Md., MGH is an integrated marketing and communications agency offering advertising, social media marketing, public relations, media planning/buying, creative design and production, website design and development, market research, and influencer marketing. The agency works across a variety of industries, including food and beverage, CPG, tourism, education, home services, healthcare, and more.

Visit our website for more information on MGH and its marketing services.

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SOURCE MGH

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Legal Notice Regarding ESHA Data Security Incident

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FORT WORTH, Texas, Nov. 22, 2024 /PRNewswire/ — ESHA, Inc (“ESHA”) provide certain revenue cycle management services to healthcare providers, including Aamir Zuberi, M.D. P.A., Acton Medical Clinic, Adil M Choudhary, M.D., P.A., Apex Wound Care, Benecia Williams, D.O., Farrukh Bhatti, Dr. Lan Le, Hanane Chichane, MD PA, ID Experts, PLLC, iMedicine & Primary Care Associates PLLC, Imran Patel, Johnna Jones, D.O., FACOS PA, Khalid Bazir, M.D., Lung & Sleep Specialists of North Texas, Medical Associates of North Texas, Meria Aulds, M.D., P.A., North Texas Lung & Sleep Clinic PA, The Lung Consultants LLC, Trinity Heritage, PLLC, Valor Interventional Pain LLC, Hayden Smith, Omar Selod, Austen Watkins, Gastroenterology Center PA, TCIDA Pharmacy, Texas Center Infectious Disease Association, and Premier Gastroenterology of Texas (collectively “the Facilities”).  ESHA recently identified and addressed a security incident that may have involved personal information and/or protected health information of the current, former or prospective residents and/or staff members of the Facilities.  ESHA began providing notice on November 15, 2024 to all individuals potentially impacted by this incident.  This notice describes the incident, outlines measures that ESHA has taken in response, and advises potentially impacted individuals on steps that they may take to further protect their information.  This notice constitutes substituted services for those clients whom ESHA does not have sufficient contact information to make individual notice as required under applicable law. 

On July 19, 2024, ESHA became aware of a data security incident, including ransomware, which impacted its server infrastructure and took its systems offline.  ESHA immediately undertook efforts to restore its servers and undertook additional affirmative steps to safeguard the security of data maintained on its systems.  ESHA also simultaneously retained a forensic investigation firm to determine the nature of the security compromise and identify any individuals whose information may have been compromised.

The forensic investigation determined that access to ESHA’s systems occurred on approximately July 13, 2024 through July 17, 2024.  The investigation also identified certain files that may have been accessed or acquired in connection with the incident.  In continuing its thorough investigation, ESHA undertook a comprehensive manual review process to review these files and identify the specific individuals with personal information and/or protected health information contained therein.  This comprehensive manual review process concluded on or about September 16, 2024.

As stated above, following the data security incident, ESHA immediately undertook all efforts to restore its servers, and also undertook additional affirmative steps to safeguard the security of data maintained on its systems.  ESHA retained a forensic investigation firm to thoroughly investigate the incident and are providing notification to all individuals whose personal and/or protected health information may have been accessed and/or acquired in connection with the incident in an abundance of caution.  ESHA has obtained confirmation to the best of its ability that the information is no longer in possession of the third party(ies) associated with this incident, and it is entirely possible that any specific personal and/or protected health information was not compromised as a result of the incident.  Nonetheless, ESHA has also offered to the impacted individuals access to complimentary credit monitoring. Please be advised that we are continuing to work closely with leading security experts to identify and implement measures to further strengthen the security of ESHA’s systems to help prevent this from happening in the future. 

Individuals who have received a notification or who believe that they may have potentially been impacted by this incident are invited to contact 888-458-5630 between the hours of 9:00am to 9:00pm EST, Monday through Friday.  ESHA and the Facilities understand the importance of protecting the protected health information and personal information maintained on its systems and deeply regrets any concern that this may have caused the potentially impacted individuals.   

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SOURCE ESHA, Inc.

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Project Liberty, WeAre8, and Frequency Network Foundation Partner to Ignite a People-First Social Media Revolution

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Building on their shared mission to give people control of their digital lives, Project Liberty, Frequency Network Foundation, and WeAre8 are transforming social media through the Frequency blockchain, empowering people with ownership, transparency, and the freedom to engage in a healthier, fairer digital world

WASHINGTON, Nov. 22, 2024 /PRNewswire/ — Project Liberty, Frequency Network Foundation, and WeAre8, a transformational social media platform, today announced a collaboration that will accelerate their innovative, people-first digital solutions, delivering a more transparent and economically beneficial social media experience. Project Liberty, Frequency Network Foundation and WeAre8 have built digital experiences that prioritizes individual empowerment, economic fairness, and genuine digital interactions, breaking away from Big Tech’s profit-driven algorithms – and together are embarking on the next phase of this revolution.

This collaboration marks a major milestone toward putting control of our digital experiences back into the hands of the people. WeAre8 plans to integrate with the Frequency blockchain, which will allow users to benefit from increased financial value and regain control of their digital identity. This revolutionary internet infrastructure was developed by the Frequency Network Foundation and Project Liberty. 

“WeAre8 is living proof that a digital world free from Big Tech’s addictive algorithms can be amazing,” said Frank McCourt, Founder of Project Liberty. “By placing power back in the hands of people, individuals can control their own experiences and benefit financially from their interactions with content. Project Liberty is honored to join forces with WeAre8 as we usher in a new digital era of people’s platforms powered by a people’s internet.”

“This collaboration with Project Liberty marks a pivotal moment for a reimagined digital world that serves the people and supports the planet,” said Zoe Kalar, Founder and Chief Executive Officer of WeAre8. “We have transformed social media by eliminating toxic content, removed algorithms so people can reach all their followers with every post, and built a transformational economic model where the ad revenues are shared with people. Project Liberty brings all our citizens another layer of independence, protection and freedom and we are excited about what our partnership means for people when we are all truly free from big tech control.”

A transformational feature of WeAre8 is its commitment to redistributing wealth back into the hands of people through its business model: 60% of its ad revenue is returned directly to citizens (users), charities, creators, and planet-impact projects. Unlike traditional platforms that force advertising into people’s feeds and encourage endless scrolling,  WeAre8 separates the ads from the feeds, enabling people to discover and even link off-platform from feed posts, while giving them choice on when they watch ads. And people are happy to watch them when they are valued. Every ad dollar is shared with people for every completed ad view, empowering them to direct these funds toward community initiatives, charitable causes, mobile bills, subscriptions or their personal needs.

For more information about WeAre8, visit here. For more information about Project Liberty, visit here. For more information about Frequency, visit here.

ABOUT PROJECT LIBERTY

Project Liberty is leading the movement to give people back control of their lives in the digital age by ensuring they have a voice, choice, and stake in a better internet. Started in 2019 and publicly launched in 2021 by civic entrepreneur Frank McCourt and supported by a $500-million commitment, Project Liberty includes the work of the Project Liberty Institute—a 501(c)(3) with an international partner network that includes Georgetown University, Stanford University, ETH in Zurich, and other leading academic institutions and civic organizations—and a technological team that is focused on developing the next generation of digital infrastructure. Project Liberty’s activities include the release of the Decentralized Social Networking Protocol (DSNP), which is stewarded by the Institute and available as a public utility to serve as the bedrock of a more equitable web and support a new era of innovation that empowers people over platforms and serves the common good.

ABOUT WEARE8

“The People’s Platform”

WeAre8, founded by tech entrepreneur Zoe Kalar, is a transformational social media platform designed to provide a healthier digital home for humanity. People are protected from toxic content, your followers actually see your posts (no controlling algorithms), and everyone benefits because the money made from advertisers on WeAre8 is shared with people, communities, charities, and planet-saving projects. It’s more than just a platform—it’s a movement towards economic liberation that shifts the power of big tech back into the hands of the people. To learn more, visit www.WeAre8.com.

ABOUT FREQUENCY

Frequency is a blockchain that powers the people’s internet through the Decentralized Social Networking Protocol (DSNP). It provides the infrastructure for creating self-sovereign digital identities, public social graphs, and decentralized content sharing, advancing data privacy and user control. Brands, developers, and platforms can use Frequency to integrate scalable, interoperable social features without the need for deep expertise in blockchain. This implementation of DSNP is aligned with Project Liberty’s mission to give people control over their digital lives while fostering innovation in decentralized technology.

For more information, please contact:
press@projectliberty.io 

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