According to news on August 25, the latest forecast data released by market research organization Gartner shows that global semiconductor revenue for artificial intelligence (AI) is expected to reach US$53.4 billion in 2023, a year-on-year increase of 20.9%.

Gartner said that AI semiconductor revenue is expected to continue to maintain double-digit growth in the future, with a year-on-year growth of 25.6% in 2024, reaching US$67.1 billion. It is expected that by 2027, AI chip revenue is expected to be larger than the market size in 2023. More than doubled to $119.4 billion.

As the use of AI work applications in enterprises matures, more industrial and IT organizations will deploy systems that include AI chips. In the consumer electronics market, Gartner estimates that the value of AI application processors for devices will reach US$1.2 billion by the end of 2023, doubling from US$558 million in 2022.

Gartner further pointed out that the need for efficient and optimized designs that support cost-effective execution of AI work will lead to an increase in the deployment of custom-designed AI chips. For many organizations, large-scale deployment of customized AI chips will replace current primary chip architectures for a variety of AI applications using generative AI technologies.