Artificial Intelligence (AI) Chip Market Worth $91.18 Billion, by 2025 at 45.2% CAGR: Allied Market Research

Allied Market Research recently published a report, titled, "Artificial Intelligence Chip Market by Chip Type (GPU, ASIC, FPGA, CPU, and others), Application (Natural Language Processing (NLP), Robotic, Computer Vision, Network Security, and Others), Technology (System-on-Chip, System-in-Package, Multi-chip Module, and Others), Processing Type (Edge and Cloud), and Industry Vertical (Media & Advertising, BFSI, IT & Telecom, Retail, Healthcare, Automotive & Transportation, and Others): Global Opportunity Analysis and Industry Forecast, 2019-2025". According to the report, the global AI chip market was pegged at $6.64 billion in 2018 and is projected to attain $91.18 billion by 2025, registering a colossal CAGR of 45.2% during the forecast period. Rise in demand for smart homes & smart cities, surge in investments in AI startups, and advent of quantum computing have boosted the growth of the global AI chip market. However, dearth of skilled workforce hampers the market growth. On the contrary, rapid adoption of AI chips in the emerging countries and development of smart robots are expected to create numerous opportunities in the near future.