AI chip market to grow by US$34 billion in 5 years
The AI processor market is set to be worth US$43.3 billion in 2023, whereas it was worth $8.6 billion last year. This growth will proceed at an estimated annual compound rate (or CAGR) of 33.9% over the next five years. It is thought to be driven by consumer-grade electronics and the services that are provided by them - or that exist to provide them.
For example, AI is thought to be a necessary component in processing the mountains of data generated by social media in the future. In addition, e-retailers may also need AI to process their ever-mounting data burden. As this business in India alone generates 30 to 40 terabytes a day by now, this may well be the case.
Machine learning, which is an 'early stage' of AI, may also build a lucrative market around itself. It is estimated to be worth $37.8 billion by 2025, at a CAGR of 40.8%. This may seem like good news for NVIDIA, which has enjoyed their own increased value projections as of late due to the role of GPUs in machine learning. However, trend analysis suggests that the stage may migrate away from these chips toward ASIC processors instead.
Therefore, a number of other hardware makers may join NVIDIA as players in the AI/machine learning arena. They are likely to include AMD, Samsung, Micron Technologies and Qualcomm. In addition, potential partner companies such as Squire Mining, a group that intends to mine multiple cryptocurrencies using Samsung silicon, are also optimistic about the future of these markets.
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