AI chip revenue climbing steeply in 2024, says Gartner

AI chip revenue climbing steeply in 2024, says Gartner

Market news |
By Peter Clarke

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Revenue from AI-oriented semiconductors – including processors and accelerators – will be worth US$71 billion in 2024, up 33 percent on 2023, according to Gartner.

The market researcher’s most recent estimate of the chip market in 2024 is US$624 billion would place AI’s share of the chip market at 11.4 percent and growing rapidly.

Gartner expects the value of AI accelerators in servers to be US$21 billion and for AI chips revenue from computing electronics to be $33.4 billion in 2024, accounting for 47 percent of total AI semiconductors revenue. AI chips revenue from automotive electronics is expected to reach US$7.1 billion, with US$1.8 billion coming from consumer electronics in 2024.

“Today, generative AI is fueling demand for high-performance AI chips in data centers. In 2024, the value of AI accelerators used in servers, which offload data processing from microprocessors, will total US$21 billion, and increase to US$33 billion by 2028,” said Alan Priestley, an analyst at Gartner.

Gartner forecasts AI PC shipments will reach 22 percent of total PC shipments in 2024, and by the end of 2026, 100 percent of enterprise PC purchases will be an AI PC. AI PCs include a neural processing unit (NPU) enabling AI PCs to run longer, quieter and cooler and have AI tasks running continually in the background, creating opportunities for leveraging AI in everyday activities.

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