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Centific awarded AI Chatbot agreement with Premier, Inc.

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Agreement empowers providers to streamline healthcare administration and improve patient outcomes.

SEATTLE, Jan. 28, 2025 /PRNewswire/ — Centific, a frontier AI data foundry company accelerating businesses’ AI adoption through intelligent data management, has been awarded a national group purchasing agreement for AI Chatbots with Premier, Inc. The new agreement allows Premier members to take advantage of special pricing and terms pre-negotiated by Premier for Centific’s chatbots and AI scribes.

Raff Ripoll, Senior Vice President of Client Partnerships at Centific, stated, “This agreement with Premier comes at a pivotal moment when AI adoption is poised to reshape the way we think about healthcare.” The FDA’s recent regulatory guidance regarding the use of AI in medical devices has created a timely opportunity for safe and innovative AI integration into medical workflows, with the potential for broad industry transformation.

The aim of Centific’s AI solutions is to improve patient experiences by reducing administrative burdens on physicians, allowing them to focus more on patient care. By facilitating the adoption of AI in medical settings, healthcare professionals are empowered to enhance patient outcomes and improve physician satisfaction across the United States.

AI-driven scribe technology, made available through this agreement, can help reduce the time providers need to spend on administrative tasks, which is a leading factor in physician burnout. This solution addresses critical healthcare labor retention challenges by making physicians’ workloads more manageable and allowing for higher job satisfaction and retention.

Healthcare organizations can now more easily and efficiently integrate AI-powered chatbots into healthcare environments. With these chatbots, patients can have 24/7 access to consultations, supporting the creation of risk management programs that reduce unnecessary doctor visits and minimize patient readmissions while still prioritizing the wellbeing of the patient.

Through this collaboration with Premier, Centific gains access to a broader network of potential healthcare clients to offer advanced AI resources. End users, including healthcare providers and patients, can benefit from reduced administrative “red tape,” greater access to care, and overall improved healthcare experiences.

Premier is a leading healthcare improvement company, uniting an alliance of approximately 4,350 U.S. hospitals and 325,000 other providers and organizations to transform healthcare. With integrated data and analytics, collaboratives, supply chain solutions, consulting and other services, Premier enables better care and outcomes at a lower cost.

About Centific

Centific is a leading frontier AI data foundry specializing in platform-driven AI solutions that empower global enterprises to maximize the value of their data. By focusing on data quality, we establish a strong foundation for AI deployment, helping businesses build smarter, safer, scalable AI models and applications. We also generate, process, and analyze large-scale datasets to accelerate AI research and development timelines. This scalability and speed, combined with robust infrastructure and a team of top data scientists and AI experts, enables us to collaborate across academia, industry, and technology sectors. As leaders in our industry, we aim to set the standard for ethical data practices and sustainable AI advancements that address real-world challenges.

Learn more at http://www.centific.com and follow Centific on LinkedIn.

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SOURCE Centific Global Solutions, Inc.

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Artificial Intelligence (AI) Chips Market to Grow by USD 902.65 Billion by 2029, Boosted by Focus on AI Chips for Smartphones, Report on AI Impact on Market Trends- Technavio

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NEW YORK, Feb. 3, 2025 /PRNewswire/ — Report on how AI is redefining market landscape – The global artificial intelligence (AI) chips market size is estimated to grow by USD 902.65 billion from 2025-2029, according to Technavio. The market is estimated to grow at a CAGR of over 81.2%  during the forecast period. Increased focus on developing ai chips for smartphones 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., Baidu Inc., Broadcom Inc., Cerebras, Fujitsu Ltd., Google LLC, 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

2024

Historic period

2019 – 2023

Forecast period

2025-2029

Growth momentum & CAGR

Accelerate at a CAGR of 81.2%

Market growth 2025-2029

USD 902649.3 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

61.7

Regional analysis

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

Performing market contribution

North America at 42%

Key countries

US, Canada, China, UK, Germany, France, Japan, Italy, India, and Brazil

Key companies profiled

Advanced Micro Devices Inc., Baidu Inc., Broadcom Inc., Cerebras, Fujitsu Ltd., Google LLC, 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 with deep learning and machine learning algorithms. The demand for AI technologies is driving the growth of AI chips market. Companies like Advanced Micro Devices, Nvidia, and Huawei are leading the way with AI chip lines, such as Trainium2 and A100 chip, designed for high computing and parallel processing. Quantum computing and generative AI are the next frontiers. Hardware components like CPUs, GPUs, FPGAs, and ASICs are essential for AI technologies. Energy efficiency is a key consideration, with AI chipmakers focusing on highbandwidth memory and system on chip designs. Cloud providers like Microsoft Azure, Amazon Web Services, and Google Cloud offer AI services, while edge computing enables real-time applications on Edge devices. Ethical concerns around AI use are rising, with specific integrated circuits and multichip modules being developed to address these issues. AI data centers and cognitive computing are powering AI applications in various sectors, including healthcare, retail, finance, automotive, and manufacturing. Patent filings for AI technologies continue, with potential applications in mobile health monitoring, elderly population care, and image recognition. The future of AI lies in the intersection of AI, robotics, and quantum computing, with potential use cases in autonomous vehicles, IoT devices, and Industry 4.0. The market for AI chips is expected to grow significantly, with investments in research and development and collaboration between tech giants and startups. However, system failure and malfunctioning remain challenges, with ongoing efforts to improve reliability. 

The Internet of Things (IoT) market is experiencing significant growth due to the advantages it offers in various industries, including aerospace and defense, automotive, consumer electronics, healthcare, and more. IoT devices make decisions using data they receive, eliminating the need for human intervention. To enhance their capabilities, IoT device manufacturers integrate Human-Machine Interface (HMI) technologies into devices such as cameras, drones, smart speakers, smartphones, smart TVs, and others. This integration leads to the deployment of Artificial Intelligence (AI) chips in IoT devices, enabling power-efficient data processing and machine learning computation. The high demand for IoT devices and the integration of AI chips make the AI Chips Market a lucrative business opportunity. 

Request Sample of our comprehensive report now to stay ahead in the AI-driven market evolution!

 Market Challenges

Artificial Intelligence (AI) is revolutionizing industries from healthcare to retail, finance, and automotive. However, the growing demand for advanced AI technologies, including deep learning and robotics, poses challenges for hardware components like AI chips. Traditional CPUs, GPUs, FPGAs, and ASICs struggle to meet the high computing requirements of AI algorithms and machine learning models. Leading tech companies like Advanced Micro Devices, Nvidia, and Huawei are investing in AI chip lines to address these challenges. For instance, Nvidia’s A100 chip and Huawei’s Ascend 910B chipset are designed for AI data centers, while the Trainium2 chip focuses on edge computing. Energy efficiency is another concern, as AI applications, such as generative AI and large language models, require massive data processing. Highbandwidth memory and quantum computing are potential solutions, but they present their own challenges. Moreover, ethical concerns surrounding AI technologies, such as system failure and malfunctioning, require careful consideration. Edge computing and centralized cloud servers offer alternatives for real-time applications and reducing latency. AI applications span various industries, including healthcare, retail, finance, and automotive. Ethical concerns and energy efficiency challenges must be addressed to ensure the widespread adoption of AI technologies. AI technologies like cognitive computing, machine intelligence, image recognition, and pose detection are transforming industries, from healthcare to retail, finance, automotive, and more. Patent filing and system failure are concerns, but the potential benefits far outweigh the challenges. AI technologies are also being integrated into everyday devices, such as mobile phones, personal computers, gaming consoles, and even wearable devices and smart homes. Theoretical and algorithmic basis, visual understanding, and automatic analysis are essential for these applications. In conclusion, the AI chip market is experiencing significant growth, driven by the increasing demand for AI technologies in various industries. However, challenges related to energy efficiency, ethical concerns, and system failure must be addressed to ensure the widespread adoption of AI technologies. Companies are investing in AI chip lines, such as Nvidia’s A100 chip and Huawei’s Ascend 910B chipset, to meet the demands of AI applications in industries like healthcare, retail, finance, and automotive. Edge computing and centralized cloud servers offer alternatives for real-time applications and reducing latency. The future of AI technologies is bright, with potential applications in manufacturing machines, processors, GPUs, FPGAs, CPUs, DSPs, microcontrollers, frame buffers, display devices, and programmable logic chips.The AI chips market is experiencing significant growth due to the potential revenue increases that companies can achieve through artificial intelligence implementation. However, the market’s expansion is hindered by a shortage of skilled professionals with expertise in AI technology. The high research and development costs associated with AI integration and the lack of available talent pose challenges for enterprises. To address this issue, companies must carefully evaluate the benefits and requirements before implementing AI solutions. The scarcity of experienced AI professionals is currently the greatest barrier to the widespread adoption of AI within business operations.

Discover how AI is revolutionizing market trends- Get your access now!

Segment Overview 

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

ProductASICsGPUsCPUsFPGAsEnd-userMedia And AdvertisingBFSIIT And TelecommunicationOthersGeographyNorth AmericaEuropeAPACSouth AmericaMiddle East And AfricaProcessing TypeEdgeCloudApplicationNature Language ProcessingRoboticsComputer VisionNetwork SecurityOthersTechnologySystem On ChipSystem In PackageMulti Chip ModuleOthers

1.1 ASICs-  Artificial Intelligence (AI) chips are experiencing significant growth due to the increasing adoption of application-specific integrated circuits (ASICs) in data centers. ASICs are customized, non-configurable chips that offer faster performance than GPUs and FPGAs. Google’s Tensor Processing Unit (TPU) is an example of an ASIC designed for deep neural networks. TPUs provide higher performance and speed compared to GPUs, FPGAs, and CPUs. The TPU is a network of software and hardware that learns specific tasks by analyzing large data sets. TensorFlow, an open-source machine learning library, is used with TPUs to develop new algorithms. ASIC-based AI chips are gaining market share due to their ability to offer superior performance and speed in data center applications. The use of ASICs in cloud-based data centers is driving the growth of the AI chips market.

Download a Sample of our comprehensive report today to discover how AI-driven innovations are reshaping competitive dynamics

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. AI chips include specific integrated circuits like CPUs, GPUs, FPGAs, and system on chips. Quantum computing is also expected to revolutionize AI technologies, leading to the development of advanced AI chips. The market is witnessing innovation with the introduction of new AI chips like Trainium2, designed for high-performance AI applications. Industries such as healthcare, retail, finance, automotive, and IoT devices are major consumers of AI chips. Ethical concerns surrounding AI are also pushing the need for more advanced AI chips to ensure transparency and accountability. The market is segmented into cloud and edge computing, with the edge computing segment expected to grow due to the increasing demand for real-time AI processing. Highbandwidth memory is another crucial component in the development of advanced AI chips. The market is expected to grow significantly in the coming years, with new applications and use cases emerging in robotics, autonomous vehicles, and generative AI.

Market Research Overview

Artificial Intelligence (AI) Chips Market: Overview The AI Chips Market is a rapidly growing sector driven by the increasing demand for advanced AI technologies, including deep learning and machine learning, in various industries. AI Chips are specialized hardware components designed to accelerate AI algorithms and technologies, such as neural networks, quantum computing, and cognitive computing. These chips are integral to powering AI applications in robotics, computer vision, natural language processing, and other fields. The market for AI Chips encompasses a range of hardware components, including CPUs, GPUs, FPGAs, ASICs, DSPs, and microcontrollers. Companies are investing heavily in research and development to create more energy-efficient and high-performance AI chips to meet the demands of real-time applications and big data processing. Key trends in the AI Chips Market include the development of AI chip lines, such as Nvidia’s A100 chip and Ascend 910B chipset, and H200 chipset, as well as the integration of highbandwidth memory and other advanced technologies. The market is also seeing the emergence of edge computing and the use of AI in centralized cloud servers and edge devices, such as mobile phones and IoT devices. Applications of AI Chips span various industries, including healthcare, retail, finance, automotive, and manufacturing. Ethical concerns surrounding AI and the potential for system failure or malfunctioning are also driving the need for more advanced and reliable AI chips. The market is expected to continue growing as AI technologies become increasingly integrated into everyday life, from health monitoring and personalized health to smart homes, connected cars, and manufacturing machines. The theoretical and algorithmic basis of AI technologies, including deep learning and machine learning, continue to evolve, with advancements in image recognition, pose detection, behavioral patterns, and structured data analysis. Patent filing and innovation are key drivers in the AI Chips Market, with companies investing in research and development to stay ahead of the competition. The market for AI Chips is diverse and dynamic, with applications ranging from mobile phones and embedded systems to personal computers, gaming consoles, and data centers. The future of AI Chips lies in their ability to provide high computing power, parallel processing, and energy efficiency, making them essential for powering the next generation of AI technologies and applications.

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 AfricaProcessing TypeEdgeCloudApplicationNature Language ProcessingRoboticsComputer VisionNetwork SecurityOthersTechnologySystem On ChipSystem In PackageMulti Chip ModuleOthers

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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Artificial Intelligence (AI) Chips Market to Grow by USD 902.6 Billion by 2029, Driven by AI-Powered Smartphone Chips – Report on How AI is Redefining the Market Landscape – Technavio

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NEW YORK, Feb. 3, 2025 /PRNewswire/ — Report with market evolution powered by AI – The global artificial intelligence (AI) chips market size is estimated to grow by USD 902.6 billion from 2025-2029, according to Technavio. The market is estimated to grow at a CAGR of over 81.2% during the forecast period. Increased focus on developing AI chips for smartphones 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., Baidu Inc., Broadcom Inc., Cerebras, Fujitsu Ltd., Google LLC, 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

2024

Historic period

2019 – 2023

Forecast period

2025-2029

Growth momentum & CAGR

Accelerate at a CAGR of 81.2%

Market growth 2025-2029

USD 902649.3 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

61.7

Regional analysis

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

Performing market contribution

North America at 42%

Key countries

US, Canada, China, UK, Germany, France, Japan, Italy, India, and Brazil

Key companies profiled

Advanced Micro Devices Inc., Baidu Inc., Broadcom Inc., Cerebras, Fujitsu Ltd., Google LLC, 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 with deep learning and machine learning algorithms. The demand for AI technologies is driving the growth of AI chips market. Companies like Advanced Micro Devices, Nvidia, and Huawei are leading the way with AI chip lines, such as Trainium2 and A100 chip, designed for high computing and parallel processing. Quantum computing and generative AI are the next frontiers. Hardware components like CPUs, GPUs, FPGAs, and ASICs are essential for AI technologies. Energy efficiency is a key consideration, with AI chipmakers focusing on highbandwidth memory and system on chip designs. Cloud providers like Microsoft Azure, Amazon Web Services, and Google Cloud offer AI services, while edge computing enables real-time applications on Edge devices. Ethical concerns around AI use are rising, with specific integrated circuits and multichip modules being developed to address these issues. AI data centers and cognitive computing are powering AI applications in various sectors, including healthcare, retail, finance, automotive, and manufacturing. Patent filings for AI technologies continue, with potential applications in mobile health monitoring, elderly population care, and image recognition. The future of AI lies in the intersection of AI, robotics, and quantum computing, with potential use cases in autonomous vehicles, IoT devices, and Industry 4.0. The market for AI chips is expected to grow significantly, with investments in research and development and collaboration between tech giants and startups. However, system failure and malfunctioning remain challenges, with ongoing efforts to improve reliability. 

The Internet of Things (IoT) market is experiencing significant growth due to the advantages it offers in various industries, including aerospace and defense, automotive, consumer electronics, healthcare, and more. IoT devices make decisions using data they receive, eliminating the need for human intervention. To enhance their capabilities, IoT device manufacturers integrate Human-Machine Interface (HMI) technologies into devices such as cameras, drones, smart speakers, smartphones, smart TVs, and others. This integration leads to the deployment of Artificial Intelligence (AI) chips in IoT devices, enabling power-efficient data processing and machine learning computation. The high demand for IoT devices and the integration of AI chips make the AI Chips Market a lucrative business opportunity. 

Request Sample of our comprehensive report now to stay ahead in the AI-driven market evolution!

Market Challenges

Artificial Intelligence (AI) is revolutionizing industries from healthcare to retail, finance, and automotive. However, the growing demand for advanced AI technologies, including deep learning and robotics, poses challenges for hardware components like AI chips. Traditional CPUs, GPUs, FPGAs, and ASICs struggle to meet the high computing requirements of AI algorithms and machine learning models. Leading tech companies like Advanced Micro Devices, Nvidia, and Huawei are investing in AI chip lines to address these challenges. For instance, Nvidia’s A100 chip and Huawei’s Ascend 910B chipset are designed for AI data centers, while the Trainium2 chip focuses on edge computing. Energy efficiency is another concern, as AI applications, such as generative AI and large language models, require massive data processing. Highbandwidth memory and quantum computing are potential solutions, but they present their own challenges. Moreover, ethical concerns surrounding AI technologies, such as system failure and malfunctioning, require careful consideration. Edge computing and centralized cloud servers offer alternatives for real-time applications and reducing latency. AI applications span various industries, including healthcare, retail, finance, and automotive. Ethical concerns and energy efficiency challenges must be addressed to ensure the widespread adoption of AI technologies. AI technologies like cognitive computing, machine intelligence, image recognition, and pose detection are transforming industries, from healthcare to retail, finance, automotive, and more. Patent filing and system failure are concerns, but the potential benefits far outweigh the challenges. AI technologies are also being integrated into everyday devices, such as mobile phones, personal computers, gaming consoles, and even wearable devices and smart homes. Theoretical and algorithmic basis, visual understanding, and automatic analysis are essential for these applications. In conclusion, the AI chip market is experiencing significant growth, driven by the increasing demand for AI technologies in various industries. However, challenges related to energy efficiency, ethical concerns, and system failure must be addressed to ensure the widespread adoption of AI technologies. Companies are investing in AI chip lines, such as Nvidia’s A100 chip and Huawei’s Ascend 910B chipset, to meet the demands of AI applications in industries like healthcare, retail, finance, and automotive. Edge computing and centralized cloud servers offer alternatives for real-time applications and reducing latency. The future of AI technologies is bright, with potential applications in manufacturing machines, processors, GPUs, FPGAs, CPUs, DSPs, microcontrollers, frame buffers, display devices, and programmable logic chips.The AI chips market is experiencing significant growth due to the potential revenue increases that companies can achieve through artificial intelligence implementation. However, the market’s expansion is hindered by a shortage of skilled professionals with expertise in AI technology. The high research and development costs associated with AI integration and the lack of available talent pose challenges for enterprises. To address this issue, companies must carefully evaluate the benefits and requirements before implementing AI solutions. The scarcity of experienced AI professionals is currently the greatest barrier to the widespread adoption of AI within business operations.

Discover how AI is revolutionizing market trends- Get your access now!

Segment Overview

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

ProductASICsGPUsCPUsFPGAsEnd-userMedia And AdvertisingBFSIIT And TelecommunicationOthersGeographyNorth AmericaEuropeAPACSouth AmericaMiddle East And AfricaProcessing TypeEdgeCloudApplicationNature Language ProcessingRoboticsComputer VisionNetwork SecurityOthersTechnologySystem On ChipSystem In PackageMulti Chip ModuleOthers

1.1 ASICs- Artificial Intelligence (AI) chips are experiencing significant growth due to the increasing adoption of application-specific integrated circuits (ASICs) in data centers. ASICs are customized, non-configurable chips that offer faster performance than GPUs and FPGAs. Google’s Tensor Processing Unit (TPU) is an example of an ASIC designed for deep neural networks. TPUs provide higher performance and speed compared to GPUs, FPGAs, and CPUs. The TPU is a network of software and hardware that learns specific tasks by analyzing large data sets. TensorFlow, an open-source machine learning library, is used with TPUs to develop new algorithms. ASIC-based AI chips are gaining market share due to their ability to offer superior performance and speed in data center applications. The use of ASICs in cloud-based data centers is driving the growth of the AI chips market.

Download a Sample of our comprehensive report today to discover how AI-driven innovations are reshaping competitive dynamics

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. AI chips include specific integrated circuits like CPUs, GPUs, FPGAs, and system on chips. Quantum computing is also expected to revolutionize AI technologies, leading to the development of advanced AI chips. The market is witnessing innovation with the introduction of new AI chips like Trainium2, designed for high-performance AI applications. Industries such as healthcare, retail, finance, automotive, and IoT devices are major consumers of AI chips. Ethical concerns surrounding AI are also pushing the need for more advanced AI chips to ensure transparency and accountability. The market is segmented into cloud and edge computing, with the edge computing segment expected to grow due to the increasing demand for real-time AI processing. Highbandwidth memory is another crucial component in the development of advanced AI chips. The market is expected to grow significantly in the coming years, with new applications and use cases emerging in robotics, autonomous vehicles, and generative AI.

Market Research Overview

Artificial Intelligence (AI) Chips Market: Overview The AI Chips Market is a rapidly growing sector driven by the increasing demand for advanced AI technologies, including deep learning and machine learning, in various industries. AI Chips are specialized hardware components designed to accelerate AI algorithms and technologies, such as neural networks, quantum computing, and cognitive computing. These chips are integral to powering AI applications in robotics, computer vision, natural language processing, and other fields. The market for AI Chips encompasses a range of hardware components, including CPUs, GPUs, FPGAs, ASICs, DSPs, and microcontrollers. Companies are investing heavily in research and development to create more energy-efficient and high-performance AI chips to meet the demands of real-time applications and big data processing. Key trends in the AI Chips Market include the development of AI chip lines, such as Nvidia’s A100 chip and Ascend 910B chipset, and H200 chipset, as well as the integration of highbandwidth memory and other advanced technologies. The market is also seeing the emergence of edge computing and the use of AI in centralized cloud servers and edge devices, such as mobile phones and IoT devices. Applications of AI Chips span various industries, including healthcare, retail, finance, automotive, and manufacturing. Ethical concerns surrounding AI and the potential for system failure or malfunctioning are also driving the need for more advanced and reliable AI chips. The market is expected to continue growing as AI technologies become increasingly integrated into everyday life, from health monitoring and personalized health to smart homes, connected cars, and manufacturing machines. The theoretical and algorithmic basis of AI technologies, including deep learning and machine learning, continue to evolve, with advancements in image recognition, pose detection, behavioral patterns, and structured data analysis. Patent filing and innovation are key drivers in the AI Chips Market, with companies investing in research and development to stay ahead of the competition. The market for AI Chips is diverse and dynamic, with applications ranging from mobile phones and embedded systems to personal computers, gaming consoles, and data centers. The future of AI Chips lies in their ability to provide high computing power, parallel processing, and energy efficiency, making them essential for powering the next generation of AI technologies and applications.

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 AfricaProcessing TypeEdgeCloudApplicationNature Language ProcessingRoboticsComputer VisionNetwork SecurityOthersTechnologySystem On ChipSystem In PackageMulti Chip ModuleOthers

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/

View original content to download multimedia:https://www.prnewswire.com/news-releases/artificial-intelligence-ai-chips-market-to-grow-by-usd-902-6-billion-by-2029–driven-by-ai-powered-smartphone-chips–report-on-how-ai-is-redefining-the-market-landscape—technavio-302366669.html

SOURCE Technavio

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Gifts Retailing Market to Grow by USD 16.75 Billion by 2029, Rise in Demand for Seasonal Decorations and Growing Gifting Culture Boost Market, AI-Powered Report – Technavio

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NEW YORK, Feb. 3, 2025 /PRNewswire/ — Report on how AI is driving market transformation – The global gifts retailing market size is estimated to grow by USD 16.75 billion from 2025-2029, according to Technavio. The market is estimated to grow at a CAGR of  3.5%  during the forecast period. Rise in demand for seasonal decorations and growing gifting culture is driving market growth, with a trend towards rise in demand for specialized merchandise. However, pricing pressures due to fierce market competition  poses a challenge. Key market players include Aldi Stores Ltd., Alibaba Group Holding Ltd., Amazon.com Inc., American Greetings Corp., Bed Bath and Beyond Inc., Card Factory Plc, Costco Wholesale Corp., Enesco LLC, Ferns N Petals Pvt. Ltd., Hallmark Card Inc., House of Fraser Ltd., Loop Commerce Inc., Macys Inc., My Pet Gift Box Ltd, Penney OpCo LLC, Shutterfly Inc., Spencer Gifts LLC, The Walt Disney Co., Walmart Inc., and Williams Sonoma Inc..

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

Gifts Retailing Market Scope

Report Coverage

Details

Base year

2024

Historic period

2019 – 2023

Forecast period

2025-2029

Growth momentum & CAGR

Accelerate at a CAGR of 3.5%

Market growth 2025-2029

USD 16752.3 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

2.2

Regional analysis

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

Performing market contribution

Europe at 47%

Key countries

US, Germany, UK, China, Canada, India, France, Italy, Japan, and South Korea

Key companies profiled

Aldi Stores Ltd., Alibaba Group Holding Ltd., Amazon.com Inc., American Greetings Corp., Bed Bath and Beyond Inc., Card Factory Plc, Costco Wholesale Corp., Enesco LLC, Ferns N Petals Pvt. Ltd., Hallmark Card Inc., House of Fraser Ltd., Loop Commerce Inc., Macys Inc., My Pet Gift Box Ltd, Penney OpCo LLC, Shutterfly Inc., Spencer Gifts LLC, The Walt Disney Co., Walmart Inc., and Williams Sonoma Inc.

Market Driver

The global retail industry is experiencing in gifting trends, particularly during seasonal decorations, birthdays, weddings, anniversaries, holidays, and special occasions like Valentine’s Day, Mother’s Day, Father’s Day, Hanukkah, Easter, Christmas, and graduations. Eco-friendly and sustainable gifts made from recycled materials and ethically sourced products are gaining popularity. Experiential gifts such as spa vouchers, travel packages, event tickets, and corporate gifting are also on the rise. Offline retailers, or brick-and-mortar stores, continue to dominate the market, but online platforms are growing rapidly. Social media marketing and email campaigns are effective marketing efforts. Seasonal decor, personalized presents, fragrances, customized presents, and luxury items are popular. E-commerce retailers are leveraging automation, augmented reality, and product visualization to enhance the shopping experience. Modernization and urbanization have led to an increase in distribution channels, catering to domestic and international tourists. Millennials prefer experiential gifts and subscription services. Intelligent marketing strategies, such as social media engagement and in-store events, help increase brand loyalty and visibility. Gifting culture continues to evolve with social trends and material possessions. 

The global gifts retailing market is experiencing a notable trend towards specialized merchandise. This segment distinguishes itself from mass merchandisers, catering primarily to unique, locally crafted gifts. Specialty merchandisers offer a high degree of product differentiation, appealing to premium customer segments. Souvenir and gift retailers play a crucial role as distributors of such specialized merchandise. For instance, Disney licenses its intellectual property to various retailers, promoting specialized merchandise on a larger scale. This symbiotic relationship benefits both the retailers and the consumers, providing them with distinctive and memorable gift options. 

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Market Challenges

The global retailing market for gifts faces various challenges in different sectors. Seasonal decorations, greeting cards, giftware, and traditional offline retailing struggle with intense competition from online platforms during major holidays and special occasions like birthdays, weddings, anniversaries, and Valentine’s Day. The pandemic has further disrupted sales in physical retail stores. Eco-friendly, sustainable gifts made from recycled materials and ethically sourced products are gaining popularity. Experiential gifts such as spa vouchers, travel packages, event tickets, and corporate gifting are on the rise. Retailers need intelligent marketing strategies, including social media and email marketing, to reach customers. Modernization and urbanization have led to a shift in distribution channels, with e-commerce retailers capturing a significant share. Millennials prefer experiential and personalized gifts, while automation and augmented reality are changing the way we shop for and visualize products. Brand loyalty is crucial, with established brands offering luxury items, jewelry, and premium products. Gifting culture continues to evolve, with social trends favoring material possessions and customized presents. Cultural experiences, travel, and personalized items are popular for various milestones like graduations, Christmas, Mother’s Day, Father’s Day, Hanukkah, Easter, and other special occasions. Retailers must adapt to these trends and invest in infrastructure to meet the needs of domestic and international tourists seeking souvenirs and keepsakes. In-store events, promotions, and loyalty programs can help increase foot traffic and customer satisfaction, ensuring brand visibility and repeat business.The gifts retailing market encompasses various players, including specialty retailers, department stores, mass merchandisers, e-retailers, novelty, and souvenir sellers. Department stores and mass merchandisers serve as one-stop solutions for customers with a diverse range of gift options. Major players in this segment include Macy, JCPenney, Sears Holding, and House of Fraser. The intensifying competition in the market results in pricing pressure, compelling vendors to adopt economic pricing strategies, which may negatively impact profit margins. E-retailers pose significant competition, particularly in regions with high Internet and smart gadget penetration.

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Segment Overview 

This gifts retailing market report extensively covers market segmentation by  

Distribution ChannelOfflineOnlineProductSouvenirs And Novelty ItemsSeasonal DecorationsGreeting CardsGiftwareOthersGeographyEuropeNorth AmericaAPACSouth AmericaMiddle East And AfricaTarget AudienceIndividualsCorporatesNon-Profit OrganizationsEvent PlannersGift Basket CompaniesTypeTraditional GiftsPersonalized GiftsExperiential GiftsDigital GiftsLuxury Gifts

1.1 Offline-  The offline distribution channel segment in the gifts retailing market includes sales through specialty stores, hypermarkets, supermarkets, convenience stores, department stores, and other retail formats. Sales through these channels are declining due to consumers’ increasing preference for online shopping. To boost online sales, vendors are collaborating with local retail entities, selling their products through gift stores and other retailing modes such as big grocers, generalists, stationers, discount chains, post office, and independent retailers. This intensifies market competition. To sustain, vendors are adopting new businesses and retail strategies, like Card Factory, which operates stores in various locations and offers quality products at affordable prices. Despite the decline in offline shopping, innovative marketing in offline channels will fuel growth. For instance, Card Factory’s extensive range of cards and complementary products at competitive prices sets it apart from competitors. Vendors also expand their store operations in different cities and regions to increase customer familiarity and value sales.

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Research Analysis

The global retailing market for gifts is a vibrant and diverse industry that caters to various occasions and preferences. From seasonal decorations like Hanukkah menorahs and Easter baskets, to greeting cards and personalized presents, the market offers a wide range of options for consumers. The industry includes both offline and online retail channels, with social media marketing playing an increasingly important role in reaching customers. The gifting culture extends beyond birthdays, weddings, and anniversaries, with personalized gifts, fragrances, luxury items, jewelry, and premium products popular for parties, public gatherings, and everyday use. Customized presents add a unique touch, making each gift a cherished keepsake. The global retail industry continues to evolve, offering innovative and personalized solutions to meet the ever-changing needs and preferences of consumers.

Market Research Overview

The global retailing market for gifts is a vibrant and diverse industry that encompasses various product categories and sales channels. Seasonal decorations, greeting cards, giftware, and more are popular choices for various occasions such as birthdays, weddings, anniversaries, holidays, and special events. The market caters to different segments including online and offline platforms, with eco-friendly, sustainable gifts made from recycled materials and ethically sourced products gaining popularity. Experiential gifts like spa vouchers, travel packages, event tickets, and corporate gifting are also on the rise. The pandemic has accelerated the shift towards online shopping, with e-commerce platforms becoming a significant distribution channel. Social media marketing and email marketing are key strategies used by retailers to reach customers. The gifting culture transcends holidays and includes social trends, material possessions, and personalized items. Intelligent marketing strategies, modernization, urbanization, and automation are driving the growth of the industry. The market caters to various demographics, including millennials, and offers a wide range of luxury items, jewelry, premium products, and novelty gifts. Seasonal decor, personalized presents, fragrances, customized presents, and polarized sunglasses are popular choices for various occasions. The industry also includes toys, wigs, and other gift items. Retailers focus on customer satisfaction, brand loyalty, and visibility, using foot traffic, in-store events, promotions, travel, and cultural experiences to attract customers. Established brands and infrastructure support the growth of the industry, catering to domestic and international tourists, graduations, milestones, and various other occasions.

Table of Contents:

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

Distribution ChannelOfflineOnlineProductSouvenirs And Novelty ItemsSeasonal DecorationsGreeting CardsGiftwareOthersGeographyEuropeNorth AmericaAPACSouth AmericaMiddle East And AfricaTarget AudienceIndividualsCorporatesNon-Profit OrganizationsEvent PlannersGift Basket CompaniesTypeTraditional GiftsPersonalized GiftsExperiential GiftsDigital GiftsLuxury Gifts

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

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