Global Machine Learning Chip Market Report 2024: Growth, Trends, and Forecast
Company Logo Expands Global Machine Learning Chip Market
Dublin, April 16, 2024 (GLOBE NEWSWIRE) — Company Logo, a leading tech company, has announced its expansion into the global machine learning chip market. The market has seen significant growth, with the size increasing from $8 billion in 2023 to $11.6 billion in 2024 at a compound annual growth rate (CAGR) of 45%.
The growth in the machine learning chip market can be attributed to various factors, including the increase in data volume, expansion of cloud computing, growth of consumer applications, diversification of chip types, and government initiatives. The market is expected to continue its exponential growth, reaching $53.17 billion in 2028 at a CAGR of 46.33%.
One of the key drivers of growth in the machine learning chip market is the increasing number of cyberattacks. Machine learning chips enable the use of machine learning algorithms to analyze data, detect patterns, and make accurate predictions to mitigate potential cyber threats. With the growing threat of cyberattacks, the demand for machine learning chips is expected to rise.
Major companies in the machine learning chip market are focusing on developing new products, particularly system-on-chip (SoC) solutions, to enhance their profitability. These chips feature AI accelerators, wireless connectivity, low power consumption, and support for various protocols, catering to industries such as banking, financial services, insurance, information technology, telecom, media, advertising, retail, healthcare, automotive, and others.
The primary types of machine learning chips include graphics processing units (GPU), application-specific integrated circuits (ASIC), field programmable gate arrays (FPGA), central processing units (CPU), and others. These chips use various technologies such as SoC, system-in-package, and multi-chip module, serving different industry verticals.
Company Logo’s entry into the global machine learning chip market is expected to further drive innovation and competition in the industry. With its expertise in technology and product development, Company Logo is poised to make a significant impact on the market.
For more information about the global machine learning chip market, visit ResearchAndMarkets.com for the full report.
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