Hardware Artificial Intelligence Market Trends That Will Shape the Next Decade: Insights from Hardware Artificial Intelligence Market Drive Innovation With New AI Chip Developments

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How Large Will the Hardware Artificial Intelligence Market Size By 2025?
In recent times, the scale of the hardware artificial intelligence market has seen a staggering expansion. The market size, which is projected to be $8.44 billion in 2024, is estimated to proliferate to $10.2 billion in 2025, marked by a compound annual growth rate (CAGR) of 20.8%. Factors propelling this growth in the historic period include an accelerated increase in data volume, enhanced performance, the need for solutions with low latency and energy efficiency, adherence to regulatory compliances and standards, worldwide competition, and shifting market dynamics.

How Big Is the Hardware Artificial Intelligence Market Size Expected to Grow by 2029?
The sector of hardware artificial intelligence is predicted to experience substantial expansion in the upcoming years. The market is projected to reach a value of $22.27 billion by 2029, growing at a compound annual growth rate (CAGR) of 21.6%. This surge during the forecast period can be credited to developments in AI algorithms, concerns regarding security and privacy, scalability and flexibility, and applications specific to various industries. Key trends expected during this forecast period consist of hardware-as-a-service for AI, hardware designed for autonomous systems, on-chip memory hierarchies, and ethical considerations in AI hardware design.

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Which Key Market Drivers Powering Hardware Artificial Intelligence Market Expansion and Growth?
The global growth of hardware artificial intelligence (AI) market is expected to surge due to the rise in internet usage worldwide. Internet consumers increasingly rely on the web to obtain information, communicate, and participate in various online activities. This increase in reliance is mainly due to the escalated interaction within the global economic and societal structures, utilizing the internet for transnational communication, cooperation and trade, particularly in the emerging markets. Application of hardware AI elevates user experiences, accelerates data processing, and aids in expanding internet accessibility with device advancement like smartphones, smart speakers, and IoT devices. Illustratively, estimates from the Switzerland-based specialized agency, International Telecommunication Union, show that the global internet user count has reached around 5.3 billion individuals, comprising 66% of the world's population in 2022, leaping up by 6.1%. Consequently, the uptick in internet consumers worldwide is steering the expansion of the hardware artificial intelligence market.

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What Long-Term Trends Will Define the Future of the Hardware Artificial Intelligence Market?
Top enterprises in the hardware artificial intelligence market have been investing in the creation of technologically superior products, namely innovative AI chips, to take advantage of the increasing need for custom hardware that is ideal for AI-related workloads. This custom computing hardware plays a vital role in the creation and implementation of AI systems, designed to swiftly and effectively manage the distinctively intricate computing demands of AI algorithms. For example, in December 2023, Advanced Micro Devices, Inc., an IT company based in the US, unveiled two novel AI chips-the Instinct MI300X accelerator and the Instinct M1300A accelerated processing unit (APU). These chips, designed for training and operating large language models (LLMs), offer greater energy efficiency compared to previous models. The MI300X provides 1.5 times more memory capacity than the prior M1250X version and stands on par with Nvidia's H100 chips when it comes to training LLMs, but outperforms in terms of inference. The primary goal of both chips is to drive progress in generative AI and they are specially designed to efficiently handle the intricate computational needs of AI algorithms.

What Are the Emerging Segments in 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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Who Are the Global Leaders 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

Which are the Top Profitable Regional Markets for the Hardware Artificial Intelligence Industry?
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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