Hardware Artificial Intelligence Market Size Projected To Reach $22.57 Billion By 2034 With A Cagr Of 21.8%

The Hardware Artificial Intelligence Market Report by The Business Research Company delivers a detailed market assessment, covering size projections from 2025 to 2034. This report explores crucial market trends, major drivers and market segmentation by [key segment categories].

What Is the Projected Growth of the Hardware Artificial Intelligence Market?
The scale of the hardware artificial intelligence market has expanded remarkably over the past few years. The market growth is projected to surge from $8.44 billion in 2024 to $10.27 billion in 2025, with a compound annual growth rate (CAGR) of 21.7%. The growth witnessed in the historical period is tied to several factors including a quick expansion in data volume, advancements in performance, a rising demand for low latency and energy-efficient solutions, requirements for regulatory compliance and standards, international competition and market dynamics.

It is anticipated that the market size of hardware artificial intelligence will experience a massive upswing in the coming years. It is forecasted to magnify to $22.57 billion by 2029, following a compound annual growth rate (CAGR) of 21.8%. Factors contributing to this upturn during the prediction period consist of advances in AI algorithms, issues regarding security and privacy, scalability and flexibility, and industry-targeted applications. The period also brings into focus major trends like AI hardware being offered as a service, hardware developed for autonomous systems, on-chip memory setups, and ethical hardware design in AI.

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What Are the Different Hardware Artificial Intelligence Market 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

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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What Are the Primary Drivers Shaping the Hardware Artificial Intelligence Market?
The escalating number of global internet users is projected to drive the growth of the hardware artificial intelligence market. These users harness the internet to gather information, communicate and partake in assorted online activities. The escalating global economy and societal interconnectedness have driven a higher dependency on the internet for trans-national communication, cooperation, and commerce. This has given rise to an increasing number of internet users globally, particularly in emerging markets. Hardware AI utilization enhances user experiences by accelerating data processing and fostering the spread of internet access through advancements in devices like smartphones, smart speakers, and IoT devices. For example, the International Telecommunication Union, a specialized agency based in Switzerland, reports that the global user base of the internet is nearing 5.3 billion people or 66% of the world population in 2022, marking a growth of 6.1%. Therefore, the surging number of internet consumers worldwide is propelling the growth of the hardware artificial intelligence market.

Which Companies Are Leading in 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 Trends Are Expected to Dominate the Hardware Artificial Intelligence Market in the Next 5 Years?
Major corporations in the hardware artificial intelligence market are innovating and creating advanced technologies such as novel AI chips to leverage and meet the increasing demand for specialized hardware tailored for AI applications. This hardware is specifically designed for creating and executing artificial intelligence systems, and is built to rapidly and effectively manage the intricate computing demands of AI algorithms. For example, in December 2023, Advanced Micro Devices, Inc., a company based in the US, introduced two new AI chips, named the Instinct MI300X accelerator and the Instinct M1300A accelerated processing unit (APU). These chips are engineered to train and operate large language models (LLMs) and are superior in energy efficiency compared to their predecessors. The MI300X boasts 1.5 times higher memory capacity than the former M1250X model and is similar to Nvidia's H100 chips in training LLMs, but with superior performance in drawing inferences. Both of these chips are developed with the goal of propelling advancements in generative AI and are optimized to handle the intricate computational needs of AI algorithms in a speedy and effective way.

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What Are the Top Revenue-Generating Geographies in 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.

Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Hardware Artificial Intelligence Market?
2. What is the CAGR expected in the Hardware Artificial Intelligence Market?
3. What Are the Key Innovations Transforming the Hardware Artificial Intelligence Industry?
4. Which Region Is Leading the Hardware Artificial Intelligence Market?

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