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

What industry-specific factors are fueling the growth of the hardware artificial intelligence market?
The uptick in internet users worldwide is forecasted to drive the expansion of the hardware artificial intelligence market. Global consumers are leveraging internet for acquiring information, interacting with others, and indulging in numerous online activities. The worldwide economy and community are becoming increasingly interlinked, thus prompting a larger dependence on the internet for overseas communication, cooperation, and trade. This, in tandem with advancements, especially in developing markets, has culminated in an escalating number of global Internet users. The use of hardware AI improves the internet experience for users, allowing for swift data processing and paving the way for internet access expansion via technological upgrades in devices such as smartphones, smart speakers, and IoT gadgets. For example, the International Telecommunication Union, a specialized agency based in Switzerland, cited that the total number of internet users globally is around 5.3 billion, equating to 66% of the global population in 2022, marking a 6.1% increase. Consequently, the hardware artificial intelligence market's growth is fueled by the surge in internet consumers worldwide.

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What Is the projected market size and growth rate for the hardware artificial intelligence market?
The market size of hardware artificial intelligence has seen substantial expansion over the past few years. The forecast suggests an increase from $8.44 billion in 2024 to $10.27 billion in 2025, marking a compound annual growth rate (CAGR) of 21.7%. Factors contributing to this growth historically include the swift increase in data volume, improvements in performance, the need for low latency, demand for energy-efficient solutions, compliance to regulations and standards, worldwide competition, and market dynamics.

The market size for hardware artificial intelligence is predicted to experience significant expansion in the coming years, reaching an impressive $22.57 billion in 2029, with a compound annual growth rate (CAGR) of 21.8%. This growth projection for the forecast period is linked to developments in AI algorithms, security and privacy issues, scalability and flexibility, and applications specific to different industries. Prominent trends anticipated during the forecast period comprise AI hardware offered as a service, hardware purposed for autonomous systems, memory hierarchies integrated on chips, and ethical AI hardware design.

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What new trends are reshaping the hardware artificial intelligence market and its opportunities?
Several major corporations involved in the hardware artificial intelligence industry are creating innovative products, like brand new AI chips, in order to tap into the increasing need for hardware specifically designed for AI tasks. This specialized computing equipment is used in the creation and implementation of AI systems, designed to efficiently meet the exceptional computational needs of AI algorithms. For example, in December 2023, Advanced Micro Devices, Inc., a company based in the US, introduced two brand new AI chips, the Instinct MI300X accelerator and the Instinct M1300A accelerated processing unit (APU). These are meant for training and operating large language models (LLMs) and outperform their predecessors in terms of energy efficiency. The MI300X displays 1.5 times more memory capacity than its predecessor, the M1250X, and matches Nvidia's H100 chips in training LLMs but surpasses them in inference performance. The primary function of both these chips is to drive advancements in generative AI, and they are engineered to easily navigate the intricate computational demands of AI algorithms.

What major market segments define the scope and growth 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.

Which key market leaders are driving the hardware artificial intelligence industry growth?
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

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

•Market Size Forecast: Examine the hardware artificial intelligence market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the hardware artificial intelligence market for a structured understanding.
•Key Players Overview: Analyze major players in the hardware artificial intelligence market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the hardware artificial intelligence market.
•Segment Contributions: Evaluate how different segments drive overall growth in the hardware artificial intelligence market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the hardware artificial intelligence market.
•Industry Challenges: Identify potential risks and obstacles affecting the hardware artificial intelligence market.
•Competitive Landscape: Review strategic developments in the hardware artificial intelligence market, including expansions, agreements, and new product launches.

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