Press release
Global AI In Hardware Market to Reach $72.77 Billion by 2029, Growing at 23.4% CAGR
AI In Hardware
The surge of AI hardware utilization in sectors such as banking, IT, and telecommunications is anticipated to boost the expansion of the AI hardware market in the future. These flourishing industries are progressively employing AI solutions to amplify their operations, improve customer engagement, and spur innovation. In the banking sector, AI hardware is deployed to augment fraud detection and deterrence, risk administration, and customer assistance. IT firms utilize AI hardware to scrutinize voluminous data from interconnected devices to discern irregularities and forecast when upkeep is necessary while telecommunications firms employ AI-facilitated hardware to scrutinize network traffic contemporaneously for pinpointing and rectifying performance complications. For example, in May 2022, the International Business Machines Corporation (IBM), a technology firm based in the US, indicated that 35% of global businesses implemented artificial intelligence (AI) in 2022, marking a 4% surge from 2021. Additionally, there was a 13% hike in organizations adopting AI in 2022, compared to the previous year. Hence, the rise in AI hardware adoption in the banking, IT, and telecom sectors is fostering the AI hardware market's growth.
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What growth opportunities are expected to drive the ai in hardware market's CAGR through 2034?
In the past few years, the market size of AI in hardware has seen an immense growth. It is projected to rise from $25.45 billion in 2024 to $31.36 billion in 2025, registering a compound annual growth rate (CAGR) of 23.2%. The growth in the previous years can be linked to robust economic growth in emerging markets, a surge in smartphone usage, and an increasing inclination towards the adoption of AI hardware in sectors like banking, and IT and telecom.
Expectations are high for the AI in hardware market size to experience a surge in the coming years. The market is projected to swell to a valuation of $72.77 billion by 2029, with a compound annual growth rate (CAGR) of 23.4%. The upward trajectory during this forecasted timeline is linked to factors such as escalated urbanization, the growing reach of the internet, the rise of smart cities, elevated demand for self-driving vehicles, and an expanding need for cloud computing. The same factors, namely rapid urbanization, increased internet penetration, proliferation of smart cities, escalating demand for autonomous vehicles, and the surge in cloud computing needs, are predicted to shape the trend during the assessed period.
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What are the emerging trends shaping the future of the ai in hardware market?
Prominent corporations involved in the AI hardware market are prioritizing technological innovations like AI accelerators to enhance computational efficiency and speed for intricate AI operations such as deep learning and live inference. An AI accelerator refers to a dedicated hardware module developed to augment the performance of AI-related duties, including machine learning, deep learning, and neural network processing. For example, in October 2024, Advanced Micro Devices, Inc. (AMD), a fabless semiconductor firm headquartered in the US, launched the Instinct MI325X AI accelerator. It is constructed on the CDNA 3 architecture with features like 256GB of HBM3E memory and 6.0 TB/s bandwidth. It is targeted at outperforming NVIDIA's H200 in memory capacity, bandwidth, and functionality. This energy-savvy accelerator is built to sustain large-scale AI models, thereby reinforcing AMD's competitive positioning against market frontrunners such as Intel and NVIDIA in the AI hardware industry.
Which growth-oriented segments of the ai in hardware market are leading the industry's development?
The AI in hardware market covered in this report is segmented -
1) By Type: Processor, Memory Network, Storage
2) By Deployment: Cloud, On-Premise
3) By Technology: Machine Learning, Computer Vision, Natural Language Processing, Expert Systems
4) By Application: Training And Simulation, Driver Monitoring Systems, Surveillance And Security, Other Applications
5) By End User: Telecommunication And IT (Information Technology) Industry, Banking And Finance Sectors, Ecommerce, Robotics, Healthcare, Other End Users
Subsegments:
1) By Processor: Graphics Processing Units (GPUs), Tensor Processing Units (TPUs), Field-Programmable Gate Arrays (FPGAs), Application-Specific Integrated Circuits (ASICs)
2) By Memory Network: High Bandwidth Memory (HBM), Dynamic Random-Access Memory (DRAM), Non-Volatile Memory (NVM)
3) By Storage: Solid State Drives (SSDs), Hard Disk Drives (HDDs), Cloud Storage Solutions
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What regions are leading the charge in the ai in hardware market?
North America was the largest region in the AI in hardware market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the AI in hardware market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What companies are at the forefront of innovation in the ai in hardware market?
Major companies operating in the AI in hardware market include Qualcomm Technologies, Alphabet Inc., Micron Technology, NVIDIA Corporation, Huawei Technologies Co. Ltd.,Intel, Apple Inc., IBM, Advanced Micro Devices Inc., Samsung Electronics Co. Ltd., Xilinx, Cambricon Technologies, Graphcore, Kalray, Mipsology, BrainChip Holdings, LightOn, Synetec, Imobisoft, Light IT Global, Webol, Theodo, Digiryte, Innowise Group, Magora, Skyward Digital, GPU-Tech, Elvees NeoTek, Cogito Instruments, Trencadis Corp, Dell Technology Inc., Amazon Web Services, Inc., Open AI, Empiria.ai, NetuxLab, Tellumat, DataProphet, Cortex Logic, JUMO, Xineoh, Clevva
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What Is Covered In The AI In Hardware Global Market Report?
•Market Size Forecast: Examine the ai in hardware market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the ai in hardware market for a structured understanding.
•Key Players Overview: Analyze major players in the ai in hardware market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the ai in hardware market.
•Segment Contributions: Evaluate how different segments drive overall growth in the ai in hardware market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the ai in hardware market.
•Industry Challenges: Identify potential risks and obstacles affecting the ai in hardware market.
•Competitive Landscape: Review strategic developments in the ai in hardware market, including expansions, agreements, and new product launches.
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