The latest study conducted by Global Market Insights Inc. claims that the global AI chipsets market size  could exceed USD 400 billion by 2032. The flourishing smart home trends, rapid integration of AI inferencing hardware across data centers, and an increasing focus on developing cutting-edge AI chipsets will be some key drivers favoring the market growth.

Road and vehicle safety has become a key concern area for governments and automotive manufacturers globally. This has resulted in the increasing acceptance of AI-driven solutions such as ADAS (Advanced Driver Assistance Systems, which will augment the demand for AI chipsets in the forthcoming years.

AI chipsets are dedicated chips developed to process an extensive and complex set of instructions, particularly for deep learning/ML-based applications, delivering improved efficiency and high performance over conventional processors.

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Highlighting some of the major trends streamlining AI chipsets industry growth through 2032

Increasing smartphone penetration With the consistent improvement in internet connectivity across both developed and developing regions, the number of smartphone shipments has witnessed multifold growth in recent years. Based on estimates by the Indian Brand Equity Foundation (IBEF), the smartphone market in India registered a 7% growth in 2021. The assessment further suggests that smartphone users in the country could reach as much as 887.4 million by 2030. As smartphone manufacturers continuously focus on improving their product capabilities, the market for AI chipsets will amass sizeable revenues in the years to come.

Escalating smart city projects

With a noticeable surge in urban population and rapid expansion of residential, commercial, and industrial areas, governments worldwide are scrutinizing smarter ways to manage intricacies, boost efficiencies, and enhance the quality of life. These factors, in response, have created a necessity for cities that monitor and incorporate infrastructure to optimize resources better and maximize benefits to citizens.

Against this backdrop, under the 2021-22 budget, the government of India allocated a sum of USD 868 million (Rs. 6,450 crores) to the Smart Cities Mission, which involves the collaboration of the Union Ministry of Urban Development with state governments and aims to build 100 smart cities between 2019 and 2023.

This will help lay the foundation of a clean and sustainable environment by integrating smart solutions such as data-driven intelligent lighting systems, traffic management, etc., which will help strengthen the AI chipsets market forecast.

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Fueling industrial automation

Industrial automation has taken center stage over the last few years. As a result, several business verticals have been deploying robotic solutions to enable higher load capacity, faster operating rate, improved workplace safety, lower operating cost, better product quality, accuracy, repeatability, and a more compact workspace.

According to the International Federation of Robotics, despite supply chain complexities, industrial robot installations reached 517,385 units in 2021, witnessing a 31% uptick from 2020. The rapid deployment of robotic solutions across industrial spaces and increasing technological developments in the field of robotics will carve a healthy growth trajectory for the AI chipset market.

Innovations to lead the way The consistently evolving technological landscape and the need to introduce the right computing for the right solutions have encouraged AI chipset manufacturers globally to develop state-of-the-art products that would lead the way for future growth opportunities.

To that end, in January 2023, AMD brought a range of x86-based chips to light, which is touted as the first offering of this sort comprising an onboard dedicated AI engine. The move was focused on bolstering AMD's competitive standing in the AI market against its counterparts, such as Intel and Nvidia.

To sum up, the AI chipset market share is expected to witness remarkable growth between 2023 and 2032, attributed to the escalating transition of the global industrial space toward automation. In addition, companies are also focusing on digitizing their workload by leveraging advanced solutions, further accentuating the product demand through the ensuing years.

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Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.

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