System Basic Chip Market is Estimated To Touch $62 Billion By 2033

CIOTechOutlook Team | Tuesday, 04 July 2023, 06:40 IST

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By 2033, the global market for system-level chips will be worth US$ 62 billion, predicts Persistence Market Research. Forecasts indicate that the market will expand by 8.1% from 2023 to 2033.There is a critical need for the creation of a global market for system-based chips as electric and hybrid vehicles spread across the globe. The market's expansion has been further tempered by the rise in demand from developing nations like China and India. In the ensuing decades, the power of fundamental chips is projected to increase as chip fabrication technology continues to progress.
 
Basic chip systems may integrate specialised accelerators to meet the demands of emergent technologies like artificial intelligence. These accelerators not only speed up AI-related computations more effectively, but also allow for faster and more precise execution of AI tasks with tensor processing units. Future versions of the most fundamental chip systems will include more capability. This trend is being driven by smaller, more energy-efficient devices. By integrating CPUs, GPUs, and memory on one chip, this could increase performance while consuming less power.
 
Future fundamental chip systems may perform better and use less energy thanks to advanced chip architectures. Computing for artificial intelligence and machine learning may be accelerated and made more effective by the use of neuromorphic or quantum-inspired architectures.
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