Press release
AI In Hardware Industry Outlook 2025-2029: Market Set to Cross $72.77 Billion Milestone
AI In Hardware
How Large Will the AI In Hardware Market Size By 2025?
In the last few years, the market size for AI in hardware has experienced significant expansion. It is projected to escalate from a value of $25.45 billion in 2024 up to $31.36 billion in 2025, adhering to a compound annual growth rate (CAGR) of 23.2%. The growth observed during the historic period can be accredited to robust economic growth in burgeoning markets, amplified penetration of smartphones, and the surge in the uptake of AI hardware within banking sectors as well as IT and telecom fields.
How Big Is the AI In Hardware Market Size Expected to Grow by 2029?
The market for AI in hardware is set to experience a rapid upward trend in the coming years, predicted to reach a value of $72.77 billion in 2029 with a compound annual growth rate (CAGR) of 23.4%. Factors contributing to this growth within the forecasting period include accelerating urbanization, a rise in internet usage, the proliferation of smart cities, a burgeoning demand for autonomous vehicles, and the escalating need for cloud computing. These same elements are also identified as key trends during the forecast period.
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Which Key Market Drivers Powering AI In Hardware Market Expansion and Growth?
The utilization of AI hardware in sectors such as banking, IT, and telecommunications is projected to stimulate the expansion of the AI hardware market. These flourishing industries are progressively exploiting AI technology to augment their processes, enrich customer interactions, and spur innovation. In the banking sector, AI hardware plays a pivotal role in amplifying fraud detection and prevention, risk management, and customer service. IT firms harness the power of AI hardware to examine vast volumes of data from interconnected gadgets to identify discrepancies and predict when upkeep is necessary. Telecommunications companies deploy AI-empowered hardware to scrutinize network traffic in real-time to detect and rectify performance hitches. Citing data from May 2022, the US-based tech firm, International Business Machines Corporation (IBM), reported that global business use of artificial intelligence spiked to 35% in 2022, marking a 4% rise from the previous year. Furthermore, the adoption of AI saw a 13% surge in 2022 compared to 2021. Hence, the uptake of AI hardware in fields like banking, IT, and telecommunications fuels the escalation of the AI hardware market.
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Which Fast-Growing Trends Are Poised to Disrupt the AI In Hardware Market?
Major players in the AI hardware market are prioritizing innovations such as AI accelerators to enhance computational effectiveness and speed for advanced AI operations like deep learning and real-time inference. AI accelerator is a specific hardware component engineered to improve the efficiency of AI operations, like machine learning, deep learning, and neural network processing. For example, Advanced Micro Devices, Inc. (AMD), a US-based multinational and fabless semiconductor company, launched the Instinct MI325X AI accelerator in October 2024, which is based on the CDNA 3 architecture. This device features 256GB of HBM3E memory and a 6.0 TB/s bandwidth, intending to outperform NVIDIA's H200 in terms of memory capacity, bandwidth, and overall performance. This environmentally-friendly accelerator is intended to fuel large-scale AI models, further reinforcing AMD's competitiveness against industry giants like Intel and NVIDIA in the AI hardware market.
What Are the Emerging Segments in the AI In Hardware Market?
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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Who Are the Global Leaders 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
Which are the Top Profitable Regional Markets for the AI In Hardware Industry?
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.
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