Deep learning chipset market to surge to $72.8 billion by 2033

According to the report, global sales of deep learning chipsets were valued at $4.7 billion in 2022. By the end of the forecast period, the market is expected to reach a valuation of $72.8 billion, with a projected compound annual growth rate (CAGR) of 27.9% from 2023 to 2033.

The market for deep learning chipsets in system on chip (SOC) production is anticipated to develop at a CAGR of more than 27.5% from 2023 to 2033, potentially generating significant revenue. Several factors are driving this growth:

Rising demand across various industries: the demand for deep learning is increasing in sectors such as healthcare, automobiles, consumer electronics, and aerospace & defence. Corporations are leveraging large volumes of data to run deep learning and machine learning models, which helps in understanding consumer behaviour more effectively.

Integration in consumer electronics: deep learning chipsets are becoming integral to a wide range of consumer electronics, including AR/VR headsets, smart speakers, and smartphones. These devices use deep learning chips for AI processing, enhancing their functionality and user experience.

Advancements in quantum computing and robotics: the emergence of quantum computing and the enhanced implementation of deep learning chips in robotics are expected to further expand the market. Deep learning is increasingly used in smart home appliances like smart speakers, smart bulbs, and smart thermostats, where it collects user data to provide personalised products and functions.

The deep learning chipset market is highly competitive, with companies continually innovating and developing advanced algorithms to enhance the functionality of their deep learning chips. Recent developments in the market include:

Google and UC Berkeley collaboration: in March 2022, Google and UC Berkeley announced a breakthrough in using artificial intelligence to design faster and smaller chips. This innovation aims to produce more efficient chips, enhancing Google's competitive edge.

Neuchips Corporation's RecAccel: in May 2020, Neuchips Corporation launched the world's first recommendation engine, RecAccel, capable of performing 500,000 inferences per second. This development marks a significant milestone in deep learning chipset technology.

Intel Corporation's strategic moves: Intel Corporation has been active in strengthening its position in the deep learning market. In December 2019, Intel acquired HABANA Labs Ltd., an Israeli start-up specialising in deep learning algorithms. This acquisition bolstered Intel's AI capabilities. Additionally, in November 2019, Intel launched Nervana Neural Network processors for deep learning, further solidifying its market presence.