Global Hardware Artificial Intelligence Market to Reach $22.57 Billion by 2029, Growing at 21.8% CAGR

"What Is the Expected Size and Growth Rate of the Hardware Artificial Intelligence Market?
The hardware artificial intelligence (AI) market is projected to grow from $8.44 billion in 2024 to $10.27 billion in 2025, reflecting a CAGR of 21.7%. This growth is attributed to rapid data volume growth, performance improvements, demand for low latency, energy-efficient solutions, and regulatory compliance.

The hardware artificial intelligence (AI) market is poised for exponential growth, reaching $22.57 billion by 2029 at a CAGR of 21.8%. Growth drivers include advancements in AI algorithms, concerns about security and privacy, scalability and flexibility, and the rise of industry-specific applications. Major trends include AI hardware-as-a-service, hardware for autonomous systems, improved on-chip memory hierarchies, and ethical AI hardware design.

What Factors Are Fueling Growth in the Hardware Artificial Intelligence Market?
The growth of the hardware artificial intelligence (AI) market is expected to be driven by the rising number of internet consumers globally. Internet consumers use the internet for a variety of activities, such as accessing information, communicating, and engaging in online services. As the global economy becomes more interconnected, the number of internet users, especially in emerging markets, is growing. Hardware AI improves user experiences by enabling faster data processing and enhancing devices like smartphones, smart speakers, and IoT devices. According to the International Telecommunication Union, a Switzerland-based agency, the number of global internet users reached 5.3 billion in 2022, accounting for 66% of the global population, a 6.1% increase from the previous year. This rise in internet consumers is fueling the growth of the hardware AI market.

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Which Leading Companies Are Shaping the Growth of the Hardware Artificial Intelligence Market?
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

What Are the Major Trends Shaping the Hardware Artificial Intelligence Market?
Companies in the hardware artificial intelligence market are creating advanced products like AI chips to meet the growing demand for hardware optimized for AI workloads. These specialized computing hardware solutions handle the complex computational needs of AI systems. For example, in December 2023, Advanced Micro Devices, Inc., a U.S.-based IT corporation, launched two new AI chips: the Instinct MI300X accelerator and the Instinct M1300A accelerated processing unit (APU). These chips are designed to train and run large language models (LLMs) while being more energy-efficient than their predecessors. The MI300X features 1.5 times more memory capacity than its predecessor, the M1250X, and outperforms Nvidia's H100 chips in inference tasks.

What Are the Key Segments of the Hardware Artificial Intelligence Market?
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

Subsegments:
1) By Processor: Graphics Processing Unit (GPU), Central Processing Unit (CPU), Application-Specific Integrated Circuit (ASIC), Field-Programmable Gate Array (FPGA), Neural Network Processor (NPU)
2) By Network: AI-Optimized Network Infrastructure, Switches Or Routers, Data Center Networks, Network Interface Cards (NICs)
3) By Storage: Solid-State Drives (SSD), Hard Disk Drives (HDD), Cloud Storage Solutions, Data Storage Systems For AI Workloads, High-Performance Storage Systems

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Which Region Dominates the Hardware Artificial Intelligence Market?
North America was the largest region in the hardware artificial intelligence market in 2024. The regions covered in the hardware artificial intelligence market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

What Is Covered In The Hardware Artificial Intelligence Global Market Report?

- Market Size Analysis: Analyze the Hardware Artificial Intelligence Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Hardware Artificial Intelligence Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Hardware Artificial Intelligence Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Hardware Artificial Intelligence Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.

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