Machine Learning Chips Market Size to grow by USD 36438.7 million between 2024-2028

Technavio, a leading provider of market research reports, has released its latest study on Machine Learning Chips Market. This report offers a comprehensive analysis of the current market trends, emerging opportunities, and key challenges.

Key Highlights:

• Market Research Overview: According to Technavio, the machine learning chips market is a segment of the larger global technology hardware, storage, and peripherals market, which encompasses manufacturers of various IT hardware, including cellular phones, personal computers, servers, and peripherals. This market is further divided into data storage components, motherboards, audio and video cards, monitors, keyboards, printers, and other peripherals. The market size is determined by the revenue generated from the sales of these hardware devices, equipment, and components. Key growth drivers for the global technology hardware, storage, and peripherals market include the escalating demand for data centers due to the increased adoption of work-from-home technologies and the continuous advancements in artificial intelligence and machine learning technologies. - The Machine Learning Chips Market is experiencing significant growth, fueled by the Increasing adoption of machine learning chips in data centers. Businesses are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

• Major Findings:
  • Increasing adoption of machine learning chips in data centers
  • Growing investment in smart cities
  • Global chip shortage
  • Cyclical nature of semiconductor industry
• Growth Projections

The market size is estimated to grow by USD 36438.7 million, at a CAGR of 36.5% during the forecast period. The global machine learning chips market is poised for significant growth due to escalating investments in the semiconductor industry by key players. For instance, Intel Corporation's recent announcement of over USD20 billion in investments towards constructing two new chip facilities in Ohio, US, signifies a commitment to enhance production capabilities and cater to the burgeoning demand for advanced semiconductors. This strategic move, in line with Intel IDM 2.0, will not only fuel the production of Intel's innovative products but also serve the requirements of foundry customers, thereby propelling market expansion throughout the forecast period.

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• Regional Insights

The Machine Learning Chips Market is experiencing significant growth due to the increasing demand for advanced artificial intelligence and machine learning solutions in various industries. These chips enable faster and more efficient processing of complex data sets, making them an essential component in applications such as predictive analytics, autonomous vehicles, and speech recognition. Major tech companies and semiconductor manufacturers are investing heavily in research and development to bring innovative and high-performance ML chips to market. This trend is expected to continue, fueling the growth of the Machine Learning Chips Market in the coming years.

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