DUBLIN, Sept. 16, 2019 /PRNewswire/ -- The "North America Artificial Intelligence Chip Market to 2027 - Regional Analysis and Forecasts by Segment; Type; and Industry Vertical" report has been added to ResearchAndMarkets.com's offering.
The North America AI chip market accounted for US$ 2.50 Bn in 2018 and is expected to grow at a CAGR of 32.0% over the forecast period 2019-2027, to account for US$ 30.62 Bn in 2027.
The increase in data generation due to the increasing proliferation of digital services is the key driver that is driving the growth of the AI chip market.
Moreover, the adoption of cloud-based AI solutions is expected to
boost the AI chip market growth in the forecast period. Artificial
intelligence and its applications such as machine learning and deep
learning have been growing tremendously over the last few years. AI is
being utilized extensively in numerous areas ranging from cloud
computing applications to digital assistants and self-driving/autonomous
vehicles. With ever increasing use cases of AI and the evolving market
landscape, the advancements in present chips have become a necessity.
The AI chip market is fragmented in nature due to the presence of several industries, and the competitive dynamics in the market is expected to change during the upcoming years. In addition to this, various initiatives are undertaken by the governmental bodies to accelerate the AI chip market further.
For instance, the North American countries are developing various policies and outlining best practices to implement artificial intelligence for promoting innovation in various industry sectors. Further, the political agendas for North American countries are aligned with the development of Machine Learning (ML) and Artificial Intelligence (AI). Artificial intelligence technologies such as self-adapting machine learning, deep learning, or Natural language processing are expected to transform the way businesses work.
However, there are many challenges related to data privacy and other concerns that are in the way of mass penetration of AI in various industries. Governments of various North American countries are working on drafting a robust and comprehensive set of regulations and policies for the holistic development of artificial intelligence in this region.
Based on the industry vertical segment, the BFSI industry segment of the AI chip market led the North America market in 2018 with a maximum market share and is expected to continue its dominance during the forecast period. Banking, financial services, and insurance (BFSI) industries have great potential for AI applications due to the presence of huge financial and personal data of customers. In this sector, a high amount of sensitive data is generated and exchanged every day. There are a growing volume and creation of endpoints and mobile devices in banks, credit card companies, and credit reporting institutions.
Key Topics Covered:
Part 1. Introduction
1.1 Scope of the Study
1.2 Report Guidance
1.3 Market Segmentation
Part 2. Key Takeaways
Part 3. Research Methodology
Part 4. Artificial Intelligence Chip Market landscape
4.1 Market Overview
4.2 Ecosystem Analysis
4.3 North America - PEST Analysis
Part 5. Artificial Intelligence Chip Market - Key Industry Dynamics
5.1 Key Market Drivers
5.1.1 Significant investments in AI Chip start-ups is anticipated to boost the Market growth
5.1.2 Increase in Data Generation due to increasing proliferation of digital services
5.2 Key Market Restraints
5.2.1 Rise in data security and privacy concerns
5.3 Key Market Opportunities
5.3.1 Adoption of cloud-based AI solutions
5.4 Future Trends
5.4.1 Custom and Application-Specific Solutions and ASICs drive the Market in future
5.5 Impact Analysis of Drivers and Restraints
Part 6. Artificial Intelligence Chip - North America Market Analysis
6.1 North America AI CHIP Market Overview
6.2 North America AI CHIP Market Forecast and Analysis
Part 7. North America Artificial Intelligence Chip Analysis -By Segment
7.2 North America AI Chip Breakdown, By Segment, 2018 & 2027
7.3 Data Center
Part 8. North America Artificial Intelligence Chip Revenue and Forecasts to 2027 - Type
8.2 North America AI Chip Breakdown, By Type, 2018 & 2027
Part 9. North America Artificial Intelligence Chip Market Revenue and Forecasts to 2027 - Industry Vertical
9.2 North America AI Chip Market Breakdown, By Industry Vertical, 2018 & 2027
9.3 BFSI Market
9.4 Retail Market
9.5 IT & Telecom Market
9.6 Automotive & Transportation Market
9.7 Healthcare Market
9.8 Media & Entertainment Market
9.9 Others Market
Part 10. North America Artificial Intelligence Chip Market - Country Analysis
Part 11. Industry Landscape
11.2 Market Initiative
11.3 Merger and Acquisition
11.4 New Development
Part 12. Company Profiles