Hardware Artificial Intelligence Market Size, Share, Growth, Latest Trends, Industry Analysis By 2033

The hardware artificial intelligence market size has grown exponentially in recent years. It will grow from $6.91 billion in 2023 to $8.44 billion in 2024 at a compound annual growth rate (CAGR) of 22.3%. The growth in the historic period can be attributed to rapid growth in data volume, performance improvement, demand for low latency, demand for energy-efficient solutions, regulatory compliance and standards, global competition and market dynamics.

The hardware artificial intelligence market size is expected to see exponential growth in the next few years. It will grow to $18.50 billion in 2028 at a compound annual growth rate (CAGR) of 21.7%. The growth in the forecast period can be attributed to advancements in ai algorithms, security and privacy concerns, scalability and flexibility, industry-specific applications. Major trends in the forecast period include ai hardware-as-a-service, hardware for autonomous systems, on-chip memory hierarchies, ethical ai hardware design.

Market Overview -
Hardware artificial intelligence refers to specialized hardware components, architectures, and systems designed to accelerate and optimize the execution of artificial intelligence (AI) tasks. These hardware solutions are customized to enhance the speed, energy efficiency, and scalability of AI algorithms and applications, surpassing the capabilities of conventional computing hardware.

Download Free Sample of Report -
https://www.thebusinessresearchcompany.com/sample.aspx?id=14390&type=smp

Internet Consumer Growth Fueling Hardware Artificial Intelligence Market Expansion
An increasing number of internet consumers across the globe is expected to propel the growth of the hardware artificial intelligence market going forward. Internet consumers use the internet to access information, communicate with others, and engage in various online activities. The growing interconnectedness of the global economy and society has fueled greater reliance on the internet for cross-border communication, collaboration, and commerce, resulting in a rising number of Internet users worldwide, especially in emerging markets. The utilization of hardware AI enhances user experiences, enabling faster data processing and facilitating the expansion of internet access through advancements in devices such as smartphones, smart speakers, and IoT devices. For instance, according to the International Telecommunication Union, a Switzerland-based specialized agency, the number of people using the internet globally is approximately 5.3 billion individuals, constituting 66% of the global population in 2022, an increase of 6.1% compared to 2021. Therefore, an increasing number of internet consumers across the globe is driving the growth of the hardware artificial intelligence market.

Competitive Landscape -
Major companies operating in the hardware artificial intelligence market are Google Plc, Samsung Electronics Co. Ltd., Microsoft Corporation, Dell Technologies Inc., Bosch GmbH, Huawei Technologies Co. Ltd., Intel Corporation, International Business Machines Corporation, Xilinx Inc., Oracle Corporation, Honeywell International Inc., Micron Technology, NVIDIA Corporation, Hewlett Packard Enterprise, Toyota Industries Corporation, Safran S.A., Thales Group, Leidos Holdings Inc., Rockwell Automation Inc., The Smiths Group plc, Arm Limited, Axis Communication AB, Inspur Information Technology Co. Ltd., OSI Systems Inc., Graphcore Limited

Hardware Artificial Intelligence Market Drive Innovation With New AI Chip Developments
Major companies operating in the hardware artificial intelligence market are developing technologically advanced products, such as new AI chips, to capitalize on the growing demand for specialized hardware optimized for AI workloads. These are specialized computing hardware used in developing and deploying artificial intelligence systems designed to handle the uniquely complex computational requirements of AI algorithms quickly and efficiently. For instance, in December 2023, Advanced Micro Devices, Inc., a US-based IT corporation, launched two new AI chips, the Instinct MI300X accelerator and the Instinct M1300A accelerated processing unit (APU), which are designed to train and run large language models (LLMs) and are more energy-efficient than their predecessors. The MI300X has 1.5 times more memory capacity than the previous M1250X version and is comparable to Nvidia's H100 chips in training LLMs but performs better on the inference side. Both chips aim to power advancements in generative AI and are designed to handle the complex computational requirements of AI algorithms quickly and efficiently.

Browse Full Report @
https://www.thebusinessresearchcompany.com/report/hardware-artificial-intelligence-global-market-report

Key Segments -
The hardware artificial intelligence market covered in this report is segmented -
1) By Type: Processor, Network, Storage
2) By Product: Central Processing Unit (CPU), Graphics Processing Unit (GPU), Application-Specific Integrated Circuit (ASIC), Field-Programmable Gate Array (FPGA), Memory, Modules
3) By Technology: Machine Learning, Computer Vision, Other Technologies
4) By End Use Industry: Banking, Financial Services And Insurance (BFSI), Information Technology (IT) And Telecommunication, Healthcare, Media And Entertainment, Aerospace And Defense, Manufacturing, Automotive, Agriculture, Retail, Other End Users

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

Contact us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 8897263534
Americas: +1 315 623 0293
Email: info@tbrc.info
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model
Latest Trending Press Releases: https://www.thebusinessresearchcompany.com/press-release.aspx

Want To Know More About The Business Research Company?
The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialise in various industries including manufacturing, healthcare, financial services, chemicals, and technology.

Global Market Model - World's Most Comprehensive Database
The Business Research Company's flagship product, Global Market Model (www.thebusinessresearchcompany.com/global-market-model) is a market intelligence platform covering various macroeconomic indicators and metrics across 60 geographies and 27 industries. The Global Market Model covers multi-layered datasets which help its users assess supply-demand gaps

This release was published on openPR.