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AI Chipset Market size was valued at more than USD 15 billion in 2022 and is projected to record over 35% CAGR through 2023 and 2032. The growing use of advanced voice assistant features in smartphones would boost product uptake over the forecast period.
AI enhances smartphone functionality in several ways, including voice assistants, intelligent photography, and object detection. Nowadays smartwatch manufacturers are offering products integrated with AI capabilities that can carry out tasks like playing music, taking calls, and creating reminders.
Emerging usage of these devices among millennials and Gen Z would drive the demand for AI chipsets. According to estimates, around 45% of Americans regularly wear smartwatches such as Apple Watches or Fitbits. New investments by the major AI chip manufacturers such as Alphabet, Apple, Arm, Intel, Nvidia, and Qualcomm to enhance product capabilities will fuel market growth.
Report Attribute | Details |
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Base Year: | 2022 |
Artificial Intelligence (AI) Chipsets Market Size in 2022: | USD 15 billion |
Forecast Period: | 2023 to 2032 |
Forecast Period 2023 to 2032 CAGR: | 35% |
2032 Value Projection: | USD 400 billion |
Historical Data for: | 2018 to 2022 |
No. of Pages: | 230 |
Tables, Charts & Figures: | 343 |
Segments covered: | Product, Technology, Processing Type, Industry Vertical, Industry Vertical |
Growth Drivers: |
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Pitfalls & Challenges: |
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Data security concerns and a lack of skilled workforce could impede the AI chipset industry to some extent. AI systems generate enormous amounts of data and information from a variety of applications, such as fingerprint recognition, biometrics, and public surveillance cameras. Such information can be used by cybercriminals and hackers for commercial and personal gains. For instance, in the Europe region, ransomware is one of the major cyber threats, with more than 10 TB of stolen data each month. Installation of advanced security software could support the adoption of AI chipsets without the concern of data loss.