Forecasts Worldwide AI Chips Revenue to Reach $53 Billion in 2023 By 2027, AI Chips Revenue Is Forecast to More Than Double
Semiconductors designed to execute artificial intelligence(AI) workloads will represent a $53.4 billion revenue opportunity for the semiconductor industry in 2023, an increase of 20.9% from 2022, according to the latest forecast from Gartner, Inc.
“The developments in generative AI and the increasing use of a wide range AI-based applications in data centers, edge infrastructure and endpoint devices require thedeployment of high performance graphics processing units (GPUs) and optimized semiconductor devices. This is driving the production and deployment of AI chips,” said Alan Priestley, VP Analyst at Gartner.
AI semiconductor revenue will continue to experience double-digit growth through the forecast period, increasing 25.6% in 2024 to $67.1 billion (see Table 1). By 2027, AI chips revenue is expected to be more than double the size of the market in 2023, reaching $119.4 billion.
Many more industries and IT organizations will deploy systems that include AI chips as the use of AI-based workloads in the enterprise matures. In the consumer electronics market, Gartner analysts estimate that by the end of 2023, the value of AI-enabled application processors used in devices will amount to $1.2 billion, up from $558 million in 2022.