Global Hardware Artificial Intelligence Market Projected to Grow at 21.8% CAGR, Reaching $22.57 Billion by 2029

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What Will the Hardware Artificial Intelligence Industry Market Size Be by 2025?
The size of the hardware artificial intelligence market has seen a tremendous expansion lately. It is projected to escalate from $8.44 billion in 2024 to $10.27 billion in 2025, experiencing a compound annual growth rate (CAGR) of 21.7%. Various factors contributing to the growth during the historic period include swift expansion in data volume, enhancements in performance, requirements for low latency and energy-efficient solutions, adherence to regulatory standards, international competition, and market dynamics.

What's the Long-Term Growth Forecast for the Hardware Artificial Intelligence Market Size Through 2029?
The market size of hardware artificial intelligence is predicted to witness an explosive growth in the subsequent years, expanding to $22.57 billion by 2029 with a compound annual growth rate (CAGR) of 21.8%. The surge in this forecast period is because of progress in AI algorithms, challenges related to security and privacy, scalability and flexibility, and applications specific to industries. Key trends for the forecast period comprise hardware-as-a-service for AI, hardware equipped for autonomous systems, memory hierarchies present on-chip, and designing AI hardware with ethics in mind.

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What Are the Key Growth Drivers Fueling the Hardware Artificial Intelligence Market Expansion?
The hardware artificial intelligence market is projected to prosper due to the rise in global internet users. Internet users worldwide access data, communicate, and participate in a variety of web-based activities. The increased global interconnection in terms of economy and society has encouraged increased dependence on the internet for international communication, collaboration, and trade. This has resulted in a surge in internet users globally, particularly in developing markets. The adoption of hardware AI enhances the user's experience by allowing quicker data processing and promoting the spread of internet access through advances in devices such as smartphones, smart speakers, and IoT devices. For example, the International Telecommunication Union, which is based in Switzerland, reports that the number of global internet users hovers around 5.3 billion, which represents 66% of the worldwide population in 2022, an uptick of 6.1%. Consequently, the escalating number of global internet users is driving the expansion of the hardware artificial intelligence market.

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What Are the Key Trends Driving Hardware Artificial Intelligence Market Growth?
Main players in the hardware AI market are focusing on creating state-of-the-art products such as innovative AI chips to leverage the increasing need for specific hardware tailored for AI operations. This unique computing hardware is critical for building and deploying AI systems equipped to rapidly and effectively manage the distinctive computing demands of AI algorithms. To exemplify, in December 2023, Advanced Micro Devices, Inc., an American IT company, introduced two novel AI chips, the Instinct MI300X accelerator and the Instinct M1300A accelerated processing unit (APU). These devices are engineered to facilitate training and operating extensive language models (LLMs) and display better energy efficiency than their antecedents. The MI300X possesses 1.5 times greater memory capacity than the earlier M1250X model, and its performance is equivalent to Nvidia's H100 chips in training LLMs, but it outperforms in the domain of inference. These chips are a significant step towards progress in generative AI since they are structured to manage the intricate computational needs of AI algorithms in a swift and effective manner.

How Is the Hardware Artificial Intelligence Market Segmented?
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 Companies Are Leading the Charge in Hardware Artificial Intelligence Market Innovation?
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

Which Regions Are Leading the Global Hardware Artificial Intelligence Market in Revenue?
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.

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