The Business Research Company has updated its global market reports with latest data for 2024 and projections up to 2033.
The Machine Learning Chip Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions - Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Machine Learning Chip Global Market Report 2024, The machine learning as a service market size has grown exponentially in recent years. It will grow from $8.18 billion in 2023 to $11.21 billion in 2024 at a compound annual growth rate (CAGR) of 37.0%. The growth in the historic period can be attributed to advancements in machine learning algorithms, increased data availability, rise in adoption of cloud computing, business need for predictive analytics, demand for automated machine learning.The machine learning as a service market size is expected to see exponential growth in the next few years. It will grow to $38.94 billion in 2028 at a compound annual growth rate (CAGR) of 36.5%.
The increase in cyberattacks is expected to drive the growth of the machine learning chip market in the future. A cyberattack refers to any offensive maneuver that targets computer information systems, networks, infrastructures, or personal devices with the intent to collect, disrupt, deny, degrade, or destroy information system resources or information. Machine learning chips play a crucial role in cybersecurity by enabling the use of machine learning algorithms to constantly evaluate data, identify patterns, and make accurate predictions to mitigate potential cyberattacks. For instance, according to the Australian Cyber Security Centre, cybercrime reports received in 2022 totaled 76,000, up by 13% from the previous year. Furthermore, in June 2022, the Anti-Phishing Working Group recorded a total of 1,025,968 phishing attacks in the first quarter of 2022, representing a 15% rise from the fourth quarter of 2021. Therefore, the increase in cyberattacks is driving the growth of the machine learning chip market.
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The machine learning chip market covered in this report is segmented –
1) By Chip Type: Graphics Processing Unit (GPU), Application-Specific Processor (ASIC), Field Programmable Gate Array (FPGA), Central Processing Unit (CPU), Other Chips
2) By Technology: System-on-Chip (SoC), System-in-Package, Multi-chip Module, Other Technologies
3) By Industry Vertical: Banking, Financial Services, And Insurance (BFSI), IT And Telecom, Media And Advertising, Retail, Healthcare, Automotive, Other Industry Verticals
Top Major Players
Google LLC,
Samsung Electronics Co. Ltd.,
Tencent Holdings Limited,
Amazon Web Services Inc.,
Taiwan Semiconductor Manufacturing Company Limited (TSMC)
The machine learning chip market report table of contents includes:
1. Executive Summary
2. Machine Learning As A Service Market Characteristics
3. Machine Learning As A Service Market Trends And Strategies
4. Machine Learning As A Service Market - Macro Economic Scenario
5. Global Machine Learning As A Service Market Size and Growth
6. Machine Learning As A Service Market Segmentation
7. Machine Learning As A Service Market Regional And Country Analysis
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34. Key Mergers And Acquisitions In The Machine Learning As A Service Market
35. Machine Learning As A Service Market Future Outlook and Potential Analysis
36. Appendix
List Of Tables
Table 1: Global Historic Market Growth, 2018-2023, $ Billion
Table 2: Global Forecast Market Growth, 2023-2028F, 2033F, $ Billion
Table 3: Global Machine Learning As A Service Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 4: Global Machine Learning As A Service Market, Segmentation By Organization, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Table 5: Global Machine Learning As A Service Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
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Table 75: Google LLC Financial Performance
Table 76: Microsoft Corporation Financial Performance
Table 77: Amazon Web Services Inc. Financial Performance
Table 78: International Business Machines Corporation (IBM) Financial Performance
Table 79: Oracle Corporation Financial Performance
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The global Automotive Chip Market is anticipated to value USD 56.24 billion until 2025.
It is also expected to register a CAGR of 10.7% over the forecasted years, 2017 to 2025.
Increasing demand for infotainment, navigation, and lighting systems among luxury vehicles for enhancing driver and passenger experience is projected to drive the market growth for automotive chips.
On the other hand, the commercial vehicles segment is also gaining traction due to the rising need to spend on mining, e-commerce, and infrastructure activities.
The Asia Pacific registered a significant share across the global automotive chip market in 2016 due to the surging number of key automotive manufacturers across China, Japan, and India.
North America generated a revenue of USD 3.41 Billion on account of increasing demand for personal vehicles prevailing among the people residing in developed countries like the U.S. and Canada.
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