The chiplet market is projected to grow from USD 6.5 billion in 2023 and is estimated to reach USD 148.0 billion by 2028; it is expected to grow at a Compound Annual Growth Rate (CAGR) of 86.7% from 2023 to 2028. The growth of the chiplet market is driven by adoption of advanced packaging technologies, and proliferation of data centers worldwide.

By processor, the AI ASIC coprocessor is projected to grow at high CAGR of the chiplet market during the forecast.

The AI ASIC coprocessor segment is positioned for robust growth, driven by the escalating demand for specialized hardware accelerators in AI applications. As AI workloads become increasingly prevalent across the healthcare, finance, and automotive sectors, the need for dedicated AI ASIC coprocessors continues to rise. Chiplet-based AI ASICs offer a targeted and efficient approach to offloading AI-related tasks from general-purpose processors like CPUs and GPUs.

These chiplets are designed to excel in AI inference and training tasks, delivering accelerated performance while conserving power. Their modular nature enables seamless integration into various hardware configurations, making them adaptable for diverse AI applications. As AI continues to permeate different sectors and the demand for faster, more energy-efficient AI processing surges, the AI ASIC coprocessor segment is projected to register notable growth within the chiplet market, offering tailored solutions to meet the evolving requirements of AI-driven technologies.

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Enterprise Electronics segment is projected to grow at high CAGR of the chiplet market during the forecast period.

The eneterprise electronics segment is expected to grow at high CAGR in chiplet market during the forecast period. Chiplets have revolutionized semiconductor design by offering a scalable and customizable approach to enterprise electronics. They enable businesses to create specialized integrated circuits, optimizing performance and power efficiency. They also enhance package-level yield and reduce costs by allowing the replacement of defective components without discarding entire chips. This modular approach accelerates development cycles and supports rapid scalability to meet changing demands. Moreover, chiplets improve reliability through redundancy options, which is crucial for mission-critical applications. Advanced interconnect technologies facilitate high-speed connections between chiplets, vital for handling large datasets and AI workloads. Chiplets revolutionizes enterprise electronics by aligning them with the constantly evolving needs of modern businesses.

Asia Pacific is expected to hold the largest share in the market by 2028.

The Asia Pacific region is expected to hold the largest share of the chiplet market during the forecast period. The growth is driven by presence of some of the leading economies such as China, Japan, and South Korea that are focusing on development of chiplet technology.

China strategically advances its semiconductor capabilities by investing heavily in chiplet technology and multi-chiplet designs. With a reported revenue of USD 7.27 billion in 2022, Shanghai-based SMIC is China's largest providing foundry and technology service company. Despite challenges, SMIC has been at the forefront of technological advancements due to US sanctions and limited access to 7 nm and 10 nm capable wafer fab tools. Prominent industry players, such as Huawei Technologies, headquartered in Shenzhen, have substantially increased their engagement in chiplet-related innovations, as evidenced by a remarkable surge in patent filings. For instance, Huawei has demonstrated a remarkable increase in chiplet-related patent filings, growing from 30 in 2017 to over 900 in 2022. Additionally, Chinese companies have united to establish the China Chiplet League, dedicated to advancing the development of a domestic Chiplet interconnect interface standard, showcasing China's commitment to technological progress in this field.

Key companies operating in the chiplet market are Intel Corporation (US), Advanced Micro Devices, Inc. (US), Apple Inc. (US), IBM (US), Marvell (US), MediaTek Inc. (Taiwan), NVIDIA Corporation (us), Achronix Semiconductor Corporation (US), Ranovus (Canada), and ASE Technology Holding Co., Ltd. (Taiwan).

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