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AI Chips Market to Grow by USD 389.25 Billion (2024-2028), Driven by Rising Adoption in Data Centers, Market Evolution Powered by AI – Technavio

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NEW YORK, Nov. 21, 2024 /PRNewswire/ — Report on how AI is driving market transformation – The global artificial intelligence (AI) chips market size is estimated to grow by USD 389.25 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of over 68.13% during the forecast period. Increasing adoption of ai chips in data centers is driving market growth, with a trend towards convergence of AI and IoT. However, dearth of technically skilled workers for ai chips development poses a challenge.Key market players include Advanced Micro Devices Inc., Alphabet Inc., Baidu Inc., Broadcom Inc., Cerebras, Fujitsu Ltd., Graphcore Ltd., Huawei Technologies Co. Ltd., Intel Corp., International Business Machines Corp., MediaTek Inc., Microchip Technology Inc., NVIDIA Corp., NXP Semiconductors NV, Qualcomm Inc., SambaNova Systems Inc., Samsung Electronics Co. Ltd., SenseTime Group Inc., Taiwan Semiconductor Manufacturing Co. Ltd., and Tesla Inc..

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Artificial Intelligence (Ai) Chips Market Scope

Report Coverage

Details

Base year

2023

Historic period

2018 – 2022

Forecast period

2024-2028

Growth momentum & CAGR

Accelerate at a CAGR of 68.13%

Market growth 2024-2028

USD 389251.3 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

53.8

Regional analysis

North America, Europe, APAC, South America, and Middle East and Africa

Performing market contribution

North America at 51%

Key countries

US, China, UK, Germany, and Taiwan

Key companies profiled

Advanced Micro Devices Inc., Alphabet Inc., Baidu Inc., Broadcom Inc., Cerebras, Fujitsu Ltd., Graphcore Ltd., Huawei Technologies Co. Ltd., Intel Corp., International Business Machines Corp., MediaTek Inc., Microchip Technology Inc., NVIDIA Corp., NXP Semiconductors NV, Qualcomm Inc., SambaNova Systems Inc., Samsung Electronics Co. Ltd., SenseTime Group Inc., Taiwan Semiconductor Manufacturing Co. Ltd., and Tesla Inc.

Market Driver

Artificial Intelligence (AI) is revolutionizing industries from healthcare to retail, finance, and automotive. Deep learning and machine learning algorithms require powerful hardware components like AI chips. Advanced Micro and Nvidia lead the market with their Trainium2 chip and A100 chip, respectively. Quantum computing and highbandwidth memory are the next frontiers. Major cloud providers like Microsoft Azure, Amazon Web Services, and Google Cloud offer AI technologies. Edge computing reduces latency for real-time applications. AI chip lines, including CPU, GPU, FPGA, and ASICs, power data processing in centralized cloud servers and edge devices. Emerging trends include generative AI, cognitive computing, and image recognition. Ethical concerns are rising as AI is integrated into everyday life, from wearable devices to smart homes and connected cars. Energy efficiency is crucial as AI data centers grow. Patent filings for AI technologies are surging. ML and DL are key to computer vision, pose detection, and behavioral pattern analysis. AI applications in healthcare, elder care, and IoT devices are transforming industries. Industry 4.0 and smart manufacturing machines benefit from AI and parallel computing. Despite advancements, system failure and malfunctioning remain concerns. Mobile applications, health monitoring, and personalized health treatments are driving demand. ML and DL are essential for big data processing and AI applications. AI chips, GPUs, FPGAs, CPUs, DSPs, and microcontrollers power various applications, from graphic applications to frame buffer and display devices. Theoretical and algorithmic basis are crucial for visual understanding and human-like AI.

The Internet of Things (IoT) market is experiencing significant growth due to the numerous advantages it offers in various industries such as aerospace and defense, automotive, consumer electronics, healthcare, and others. IoT devices, which include cameras, drones, smart speakers, smartphones, smart TVs, and more, are making decisions based on data they receive without human intervention. To enable power-efficient data processing and machine learning computation in these devices, IoT manufacturers are integrating Artificial Intelligence (AI) chips. This integration allows IoT devices to perform complex tasks and learn from data, enhancing their functionality and value to users. The demand for AI chips in IoT devices is expected to continue growing as the market expands.

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Market Challenges

Artificial Intelligence (AI) is revolutionizing industries from healthcare to retail, finance, and automotive. However, the growth of AI technologies relies heavily on the development of efficient AI chips. These hardware components, including CPUs, GPUs, FPGAs, and ASICs, power deep learning and machine learning algorithms. Companies like Advanced Micro Devices and Nvidia are leading the AI chip market with their Trainium2 chip and A100 chip, respectively. However, challenges persist. Energy efficiency is a major concern as AI applications require high computing power, leading to increased energy consumption. Quantum computing and generative AI are pushing the boundaries of AI technologies, requiring even more powerful chips. Ethical concerns also arise as AI is integrated into various industries, from healthcare to manufacturing. Major cloud providers like Microsoft Azure, Amazon Web Services, and Google Cloud are investing in AI data centers, while edge computing gains popularity for real-time applications. Edge devices, such as IoT devices and autonomous vehicles, require specific integrated chips for data processing. As AI applications expand, so do the challenges. System failure and malfunctioning are concerns for mobile applications, while big data requires advanced parallel computing capabilities. Patent filing and theoretical/algorithmic basis are crucial for the development of AI technologies. In conclusion, the AI chip market is evolving rapidly, with companies investing in high-performance chips to meet the demands of various industries. However, challenges such as energy efficiency, ethical concerns, and system failure must be addressed to ensure the continued growth of AI technologies.The AI chips market is witnessing significant expansion due to the potential financial gains that businesses can reap from artificial intelligence. However, the absence of a sufficient workforce with technical expertise in AI is posing a significant challenge to market growth. Companies are keen on integrating AI into their operations but face high research and development costs and the need for information from experienced AI professionals. The scarcity of talent with the necessary knowledge of AI technology is currently impeding the growth of enterprise AI applications.

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Segment Overview

This artificial intelligence (ai) chips market report extensively covers market segmentation by

Product1.1 ASICs1.2 GPUs1.3 CPUs1.4 FPGAsEnd-user2.1 Media and advertising2.2 BFSI2.3 IT and telecommunication2.4 OthersGeography3.1 North America3.2 Europe3.3 APAC3.4 South America3.5 Middle East and Africa

1.1 ASICs- Artificial Intelligence (AI) chips, specifically Application-Specific Integrated Circuits (ASICs), are becoming increasingly popular in data center applications due to their superior performance and speed. ASICs are customized, non-configurable chips that offer an instruction set and libraries for local data processing, acting as an accelerator for parallel algorithms. Google’s Tensor Processing Unit (TPU) is a prime example, designed for deep neural networks and already in use for Google Search and Google Street View. ASICs provide faster performance than GPUs, FPGAs, and CPUs, making them a preferred choice for data centers. TPUs have an instruction set that allows TensorFlow programs to be modified and new algorithms to be developed, making them a valuable asset for managing data effectively. The use of ASIC-based AI chips is expected to witness significant growth in the forecast period.

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Research Analysis

Artificial Intelligence (AI) Chips Market: The global AI Chips Market is experiencing significant growth due to the increasing adoption of AI technologies in various industries. Deep learning and machine learning algorithms are driving the demand for AI chips, which are specialized hardware components designed to accelerate AI computations. These chips are essential for robotics, quantum computing, and advanced AI applications. The market includes CPU, FPGA, GPU, System on Chip (SoC), and Multichip Module (MCM) solutions. AI chips are finding applications in sectors like healthcare, retail, finance, automotive, autonomous vehicles, IoT devices, and more. High-performance AI chips are crucial for training generative AI models and powering supercomputers. Ethical concerns surrounding AI are also fueling the development of specific integrated circuits. Key technologies include highbandwidth memory and Trainium2 chip. The market is evolving with the shift from cloud to edge computing.

Market Research Overview

Artificial Intelligence (AI) Chips Market: Overview The AI Chips Market is witnessing significant growth due to the increasing demand for advanced AI technologies such as deep learning and machine learning in various industries. AI chips are specialized hardware components designed to accelerate AI algorithms and technologies, including neural networks, quantum computing, and cognitive computing. These chips are essential for powering AI applications in robotics, computer vision, natural language processing, and other fields. The market for AI chips includes various types of hardware components, such as CPUs, GPUs, FPGAs, ASICs, DSPs, and microcontrollers. Companies are investing heavily in the development of AI chip lines, including Nvidia’s A100 chip, Ascend 910B chipset, and H200 chipset, to meet the growing demand for energy-efficient and high-performance AI solutions. AI applications are widespread across industries, including healthcare, retail, finance, automotive, and manufacturing. The use of AI in healthcare for health monitoring, health information access, personalized health, and treatment devices is gaining popularity, especially for the elderly population. In retail, AI is used for customer behavior analysis, inventory management, and personalized marketing. In finance, AI is used for fraud detection, risk assessment, and algorithmic trading. The automotive industry is also adopting AI technologies for autonomous vehicles, advanced driver assistance systems, and connected cars. The use of AI in manufacturing machines, smart homes, and IoT devices is increasing, leading to the growth of AI data centers and edge computing. However, ethical concerns surrounding AI and the potential for system failure or malfunctioning are major challenges for the market. The development of specific integrated chips and multichip modules is a potential solution to address these challenges. The AI Chips Market is expected to continue growing due to the increasing demand for real-time applications, low latency, and big data processing. The market is also being driven by the development of generative AI, large language models, and other advanced AI technologies. The use of AI in mobile applications, gaming consoles, and personal computers is also expected to drive market growth. In conclusion, the AI Chips Market is a rapidly growing market, driven by the increasing demand for advanced AI technologies and applications across various industries. The market is expected to continue growing due to the development of energy-efficient and high-performance AI solutions, the increasing use of AI in various industries, and the growing demand for real-time applications and low latency. However, ethical concerns and the potential for system failure or malfunctioning are major challenges that need to be addressed.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

ProductASICsGPUsCPUsFPGAsEnd-userMedia And AdvertisingBFSIIT And TelecommunicationOthersGeographyNorth AmericaEuropeAPACSouth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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Strengthening the Foundation for Mass Production: Lead Intelligent’s Warm Isostatic Pressing Machine Accelerates Solid-State Battery Industrialization

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WUXI, China, Oct. 28, 2026 /PRNewswire/ — Solid-state batteries are at a critical stage of transition from pilot production to large-scale manufacturing. To address key challenges in densification and solid-solid interface contact, Lead Intelligent has developed a horizontal warm isostatic pressing machine that delivers uniform three-dimensional pressure of up to 600 MPa across a wide temperature range from room temperature (RT) to 150°C. The machine achieves temperature control accuracy of ±2°C and pressure control accuracy of ±2%. Integrating automatic loading and unloading with precise, coordinated temperature and pressure control, the machine can increase cell density to over 95%, accelerating the industrialization of solid-state batteries.

As solid-state batteries move toward mass production, two major challenges remain: high impedance caused by insufficient solid-solid interface contact, and the limitations of conventional unidirectional pressing, including uneven density and pronounced edge effects. Based on Pascal’s principle, isostatic pressing applies isotropic pressurization within a sealed chamber to achieve multidimensional material compaction and densification. It is a key processing route for addressing solid-solid interface contact challenges in solid-state batteries.

For the practical requirements of large-scale solid-state battery manufacturing, warm isostatic pressing offers an effective balance between densification performance, production efficiency, and manufacturing cost, making it a highly cost-effective option for mass production. As construction of solid-state battery capacity accelerates, warm isostatic pressing machines are becoming core incremental machines for battery manufacturers’ next-generation solid-state production lines.

Core Technology: Precise Temperature-Pressure Coordination for High-Precision Process Control

Building on its R&D system, Lead Intelligent’s horizontal warm isostatic pressing machine overcomes the “black box” limitations of traditional warm isostatic pressing process by enabling real-time monitoring of temperature and pressure inside the chamber. The machine upgrades from conventional unidirectional pressing to precise temperature-pressure coordination to promote closer contact between electrodes and electrolytes, making it well suited for solid-state battery mass production.

Pressure system: It delivers uniform three-dimensional pressure of up to 600 MPa, with pressure control accuracy ≤±2%. Automatic pressure compensation and emergency depressurization functions keep pressure fluctuations within ±2% during a 30-minute pressure holding period, ensuring process stability and repeatability.

Temperature system: The working temperatures can reach up to 150°C, and can be adjusted within a wide operating range from room temperature (RT) to 150°C, with temperature control accuracy of ±2°C. The initial heating time to 150°C takes no more than three hours, balancing process adaptability with mass production cycle-time requirements.

Chamber specifications: The working chamber inner diameter is ≥400 mm, the effective length is ≥4,000 mm, and the volume is around 500 L. It accommodates batch processing of workpieces in various sizes and meets the capacity requirements of GWh-scale production lines.

Designed for Mass Production: Comprehensive Optimization for Large-Scale Manufacturing

For GWh-scale manufacturing, warm isostatic pressing machines must do more than meet core process specifications. They shall also coordinate with whole line cycle time, logistics systems, and upstream and downstream processes. To meet these requirements, Lead Intelligent has optimized machine structure, automatic operation, and safety systems in parallel.

Horizontal Design for Continuous Production Lines

The horizontal working chamber and automatic loading and unloading design significantly reduce factory height requirements while seamlessly integrating with automatic logistics systems to meet the needs of continuous production and material transfer between upstream and downstream processes, adapting to takt-based operation on large-scale production lines. Electrodes and solid electrolytes can be stacked and assembled before being loaded into the chamber for pressing and densification, simplifying process flow.

Full-process Automation to Minimize Manual Intervention

The machine enables unmanned operation throughout cell pretreatment and material box circulation. It integrates four key functions: cell hot air preheating, cold air drying and cooling, automatic fixture loading and unloading, and material box automatic circulation. The machine covers the entire workflow including loading, pretreatment, isostatic pressing and unloading, minimizing manual intervention and improving production efficiency and process consistency within each batch.

Multi-Layered Safety Controls for Reliable Operation

The machine incorporates a comprehensive multi-layered safety assurance system. At the foundational level, the machine is equipped with dual pressure and temperature monitoring for the chamber, together with pipeline pressure-relief ports to safeguard machine operation. In addition, an innovative triple deformation monitoring system provides real-time monitoring to enhance operational safety and maintain process precision.

As a world-leading provider of intelligent manufacturing solutions for the new energy industry, Lead Intelligent has completed the full-process layout for solid-state battery manufacturing, covering key stages including dry electrode processing, high-precision stacking, warm isostatic pressing, and formation and grading. The company has the capacity for batch delivery of GWh-level solid-state battery whole line solutions.

Looking ahead, Lead Intelligent will continue to strengthen its intelligent manufacturing equipment capabilities, accelerating the industrialization of solid-state batteries and other advanced battery technologies and contributing LEAD power to the global new energy industry.

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SOURCE LEAD Intelligent

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Ascendion Expands AI Advisory Community with Four Global Business and Technology Leaders

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Former Global CTO of Banco Santander, former Group CIO of Currys, former CEO of IBPAP, and former Microsoft CVP and CTO of AI join the advisory community

Advisors will provide guidance on AAVA platform innovation, AI strategy, C-suite alignment, and enterprise adoption across Asia-Pacific, Europe, North America, and the UK

The growing community of advisors will bring practitioner perspective closer to Ascendion as enterprises move AI from experimentation to governed, production-scale outcomes

BASKING RIDGE, N.J., Oct. 28, 2026 /PRNewswire/ — Ascendion, an AI-native software engineering company, today announced the appointment of four global business and technology leaders to its AI Advisory Community: Andy Gamble, Jack Madrid, Julieta Ross, Ph.D., and Joseph Sirosh, Ph.D. 

The advisors bring perspectives rarely found in one group: executives who answered to Boards, regulators, and C-suites for what technology actually delivered; a builder of AI and data platforms at global scale; and a leader who shaped one of the world’s largest technology-services and talent ecosystems. Their experience spans banking, high-tech, media, and retail. Each will work directly with Ascendion’s regional and engineering leaders, so their counsel reaches the decisions it is meant to shape. 

“We are changing how software gets built. Enterprise leaders have moved past experiments. They want AI that delivers outcomes boards can measure and risk they can manage. Andy, Jack, Julieta, and Joseph have the experience and know where transformation succeeds. They will challenge our thinking, raise our ambition, and help us navigate a period of intense — and exciting — change,” said Karthik Krishnamurthy, CEO, Ascendion.  

Each advisor will map to a different part of the business, strengthening Ascendion’s alignment with leadership communities across the globe. 

Julieta Ross, Ph.D., former Global CTO of Banco Santander, brings two decades of leading technology inside global banks, along with public-company board experience. She will work with Ascendion’s leadership on executive relationships, go-to-market strategy, and growth, and will help the company meet the governance, regulatory, and risk expectations that banking and financial services leaders place on AI. 

Andy Gamble, former Group CIO of Currys plc, has spent nearly three decades as a technology buyer and transformation leader across consumer electronics, industrial, and retail businesses. He will advise Ascendion’s work across Europe and the UK, with a focus on consumer goods, manufacturing, and retail, and will share what executive teams and Boards expect from a technology partner. 

Joseph Sirosh, Ph.D., former Microsoft CVP and CTO of AI, has spent his career building and scaling machine learning platforms in the high-tech industry. He will advise Ascendion’s engineering leadership on the evolution of AAVA and its broader platform strategy as AAVA becomes an orchestration and harness layer for enterprise AI. 

Jack Madrid, former President and CEO of IBPAP, spent five years leading the industry association behind one of the world’s largest technology and business-services ecosystems, centered in the Philippines. He brings robust experience working across industries, including banking, high-tech, and media, and will advise Ascendion on Asia-Pacific markets and on how AI is reshaping global delivery, skills, and workforce models. 

Together, the advisors give Ascendion an outside perspective on the full spectrum of enterprise AI, from agentic platform strategy and product engineering to industry alignment and delivery. They will add capacity to Ascendion’s ongoing work on AI governance, helping ensure trusted impact from AI-native software engineering, and their practice-based insight will inform how Ascendion applies its Engineering to the Power of AI™ approach to commercial models, platform design, service execution, and workforce development. 

About Ascendion

Ascendion is a global AI-native software engineering company delivering trusted business outcomes – capital unlock, innovation velocity, lower risk – to 250+ enterprise clients. The company delivers business outcomes at scale by combining expert engineers, AI agents, and AAVA, Ascendion’s agentic AI platform. Together, they design, engineer, and operate production-ready software that improves everyday work and life. Learn more at www.ascendion.com.

Engineering to the Power of AI™, Engineering to Elevate Life™, and AAVA™ are trademarks or service marks of Ascendion. AAVA™ is pending registration. Unauthorized use is strictly prohibited.

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Canara HSBC Life Insurance Earns ‘Leader’ ESG Rating from NSE Sustainability Ratings & Analytics

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Achieves ESG score of 71, with strong performance across environmental stewardship, governance and stakeholder well-being

NEW DELHI, Oct. 28, 2026 /PRNewswire/ — Canara HSBC Life Insurance Company Limited (“Canara HSBC Life Insurance”) has been recognised in the ‘Leader’ Rating Category in the FY2026 Environmental, Social and Governance (ESG) assessment conducted by NSE Sustainability Ratings & Analytics Limited. The Company achieved an overall ESG score of 71, including an Environment score of 79, Governance score of 75 and Social score of 63, reflecting its continued focus on sustainable business practices, stakeholder welfare and strong corporate governance.

The assessment highlighted the Company’s environmental performance, including greenhouse gas emissions from direct operations and energy consumption that are below industry averages, significantly lower energy and waste intensity compared to peers, and strong waste recycling and recovery practices.

On the social front, the assessment recognised the Company’s focus on employee well-being and workplace safety, including a lost-time incident rate of zero, no employee fatalities during the year, and 100% employee coverage under health and safety training. The assessment also noted a balanced workforce, with women accounting for 36.69% of employees, and customer complaint frequency below relevant benchmarks.

The governance assessment recognised Canara HSBC Life Insurance’s robust oversight framework, including Board independence levels exceeding regulatory requirements, strong independent representation across key Board committees, and comprehensive anti-corruption and sustainability governance policies.

Anuj Mathur, MD & CEO, Canara HSBC Life Insurance, said, “Being recognised in the ‘Leader’ category is a strong affirmation of our belief that sustainable growth and responsible business practices go hand in hand. At Canara HSBC Life Insurance, ESG is not a standalone agenda but an integral part of how we create long-term value, manage risk, strengthen stakeholder trust and build organisational resilience. As we continue to grow, we remain committed to embedding these principles across our business and delivering meaningful outcomes for our customers, employees, shareholders and communities.”

The FY2026 ESG assessment was conducted by NSE Sustainability Ratings & Analytics Limited using a structured, sector-specific framework that evaluates companies across environmental, social and governance parameters. The assessment considers an organisation’s performance, policies, disclosures, governance practices and management of material ESG risks and opportunities. It is based on publicly available information, including annual reports, Business Responsibility and Sustainability Reports (BRSR), stock exchange filings, company disclosures and other public sources, and benchmarks companies against relevant industry peers.

About Canara HSBC Life Insurance

Incorporated in 2007, Canara HSBC Life Insurance Company Limited is a public listed company co-promoted by Canara Bank (36.5%) and HSBC Insurance (Asia-Pacific) Holdings Limited (25.5%), with the remaining shareholding held by public shareholders, including Punjab National Bank (13%). As a bancassurance-led insurance company with its corporate office at Gurugram, Haryana and 107 branch offices as of September 30, 2026, pan India, Canara HSBC Life brings together the trust and market knowledge of public and private banks.

For more than 18 years now, Canara HSBC Life Insurance has sold insurance products to customers through multiple channels and a well-diversified network of Canara Bank, HSBC Bank and its other bancassurance partners located in multiple Tier 1, 2 and 3 cities across the country. Canara HSBC Life Insurance has a vast portfolio of life insurance solutions and offers various products across individual and group spaces comprising of life, term plans, retirement solutions, credit life and employee benefit segments through partner banks and digital channels.

With an aim to provide simpler insurance and faster claim process, Canara HSBC Life Insurance intends to keep the promises of their customers alive with their ‘Promises Ka Partner’ philosophy.

For further press queries email us on prateek.sharma@canarahsbclife.in

 

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