Data Center Accelerator Market Projected to Reach $372.9 billion by 2029, Driven by AI and Cloud Computing Advances

The global data center accelerator market was valued at USD 109.9 billion in 2024 and is projected to reach USD 372.9 billion by 2029; it is expected to register a CAGR of 27.7% during the forecast period. Surging adoption of deep learning technology in big data analytics and increasing demand for data center accelerators from enterprises and researchers are attributed to the ever-increasing demand data center accelerators.

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Cloud data centers accounted for a larger share of ~70% of the data center accelerator market in 2023. The market growth is driven by the widespread adoption of cloud services by businesses of all sizes. Companies are increasingly adopting cloud platforms to meet their scalability, flexibility, and cost-efficiency requirements. The the dynamic scalability of the cloud deployment model ensures that data centers can efficiently manage workload peaks and troughs, optimizing resource utilization and cost-effectiveness without the need for substantial upfront investment in physical infrastructure.

The deep learning training segment accounted for the largest share of ~90% of the data center accelerator market in 2023, and a similar trend is expected to be observed in the future. The growth of the market has led to advancements in hardware, particularly the development of GPUs and TPUs, which have significantly accelerated the training process. These specialized processors are optimized for the parallel computations required in deep learning, reducing training times from weeks to days or even hours.

The graphic processing units (GPU) segment accounted for the largest share of ~72% in 2023; a similar trend is expected. The GPUs provide the necessary computational power and efficiency to process large datasets and complex algorithms quickly. Additionally, the rise of AI-driven technologies in various industries, from healthcare to finance, and the increasing adoption of cloud services, require robust and scalable data center infrastructure, which accelerator GPUs can provide. This demand is further fueled by advancements in GPU architecture, offering higher performance and energy efficiency, making them essential for modern data centers aiming to handle the ever-growing computational workloads efficiently.

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North America held the largest share of ~55% of the data center accelerator market in 2023 and is also expected to grow at the highest CAGR of 29.2% during the forecast period. This region is home to many tech giants and early adopters of AI and machine learning (ML). Data center accelerators like GPUs excel at processing the massive datasets required for these technologies, fueling their growth. Also, presence to key manufacturing companies, such as NVIDIA Corporation (US), Advanced Micro Devices, Inc (US), Intel Corporation (US), Alphabet Inc. (US), Qualcomm Technology, Inc. (US), Micron Technology, Inc. (US), IBM Corporation (US), Marvell (US), Achronix Semiconductor Corporation (US), Dell Inc. (US)are present in the region.

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