According to the research report titled ‘Europe Artificial Intelligence Chipsets Market Size By Processing Type, By Product, By Technology, Robotic Process Automation, Computer Vision, Network Security)), By Industry Vertical, IT & Telecom, Retail, Healthcare, Automotive), Research Report, Country Outlook, Price Trends, Growth Prospects, Competitive Industry Share & Forecasts, 2020 – 2026’, available with Market Study Report, Europe artificial intelligence chipsets market is poised to record a strong compound annual growth rate over 2020-2026, subsequently amassing a value of USD 9 billion by the forecast period end.
 

As per the report findings, rise in the number of favorable government initiatives along with growing demand for smart cities by the regional population are the major factors driving the Europe artificial intelligence chipsets market growth.
 

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For the record, in December 2020, the European Union announced that it will provide USD 5.5 million for a project named ‘AI4Cities’, which aims to accelerate the development of six smart cities by using advanced technologies like AI, IoT and 5G network connectivity.
 

Speaking of technology, the marketplace is divided into RPA, NLP, network security, computer vision and other technologies. The network security segment size is expected to expand at 30% CAGR owing to rising use of advanced technologies like big data and cloud computing across various sectors like IT & telecom, education, and banking. AI chipsets are witnessing an increased application as they assist in dealing with inefficiencies like connectivity issues, lack of maintenance, troubleshooting and low-quality network.
 

Moving on to the industry verticals, Europe artificial intelligence chipsets market space is categorized into consumer electronics, BFSI, media & advertising, retail, IT & telecom, automotive, healthcare, and others. Among these, the consumer electronics segment is anticipated to bolster at a 35% CAGR on account of growing demand for 5G technology in smartphones, laptops and other devices among the young population in the region. The demand for such products is due to benefits of the technology like higher connectivity speed, and faster data transmission and processing.
 

On the geographical front, Germany market is expected to register 34% CAGR through 2026, attributable to the prevalence of prominent auto manufacturers such as Audi, BMW Group, Volkswagen, Daimler AG including others in the region. These companies are progressively developing ‘Advanced Driver-Assistance System (ADAS)’ and self-driving cars, in turn, has augmented the demand AI-based chipsets to manufacture technologically advanced vehicles with increased efficiency.
 

Leading players in Europe artificial intelligence chipsets industry are Intel Corporation, International Business Machines Corporation (IBM), Google LLC, Broadcom Inc., Baidu Inc., Amazon.com Inc., Advanced Micro Devices Inc., SK Hynix Inc., MediaTek Inc., Samsung Electronics Co. Ltd., Qualcomm Inc., Nvidia Corporation, Microsoft Corporation, and Micron Technology Inc.