Machine learning chip is widely used across the applications such as robotics, healthcare, automotive, and consumer electronics. At present, rising demand for automated electronic devices and trending Artificial Intelligence (AI) are some factors that majorly drive the market.
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Moreover, popularity of Internet of Things (IoT) is expected to provide lucrative opportunities to market players.
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The Neuromorphic Chip segment is projected to maintain its lead in the global machine learning chip market, as this type is used in various electronics applications such as gaming, driverless vehicles, drones & air transport, security & cyber security, speech, and image recognition.
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Moreover, Flash based Memory Chip is expected to grow owing to its stability and enhanced performance.
Among applications, robotics industry segment dominated the global market in 2015, accounting for about 52% share. Trending artificial intelligence (AI), diversified application areas, and improved productivity fuel the market growth.
However, consumer electronics segment is expected to grow at the highest CAGR of 13.1% during the forecast period due to increase in demand for automated electronic devices.
North America was the major revenue contributor in 2014, and is expected to maintain its dominance throughout the forecast period. This is attributed to the increase in number of automated medical devices and automated robots.
Moreover, developments in consumer electronics and aerospace & defense is projected to boost the growth of the machine learning chip market, especially in the Asian countries, such as China, Japan, South Korea, and India.
LAMEA is projected to be the fastest growing region during the analysis period, owing to increase in demand for automated machinery, and rise in the adoption of machine learning chip in automotive and healthcare sectors. Moreover, technological advancements to overcome complexity of the circuit is expected to offer lucrative opportunities for market players in the near future.
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