Hardware Artificial Intelligence Market Size, Share And Growth Analysis For 2024-2033

The Business Research Company’s Hardware Artificial Intelligence Global Market Report 2024 – Market Size, Trends, And Forecast 2024-2033

LONDON, GREATER LONDON, UK, June 25, 2024 /EINPresswire.com/ -- The hardware artificial intelligence market, encompassing specialized hardware components, architectures, and systems designed to accelerate AI tasks, is projected to grow from $6.91 billion in 2023 to $8.44 billion in 2024, at a CAGR of 22.3%. This significant growth is driven by the increasing data volume, demand for performance improvement and low latency, energy-efficient solutions, regulatory compliance, and intense global competition. The market is anticipated to reach $18.50 billion by 2028, growing at a CAGR of 21.7%, propelled by advancements in AI algorithms, security and privacy concerns, scalability, and industry-specific applications.

Rising Number of Internet Consumers Propels Market Growth
The surge in the number of internet consumers worldwide is a key factor driving the growth of the hardware artificial intelligence market. Internet users leverage the internet for accessing information, communication, and various online activities, with increasing global interconnectedness fueling greater reliance on the internet for cross-border communication and commerce. This trend is particularly pronounced in emerging markets, where internet usage is expanding rapidly. Hardware AI enhances user experiences through faster data processing and supports the growth of internet access via devices like smartphones, smart speakers, and IoT devices. According to the International Telecommunication Union, approximately 5.3 billion people, or 66% of the global population, used the internet in 2022, marking a 6.1% increase from 2021. The growing number of internet consumers is thus a significant driver of the hardware AI market.

Explore comprehensive insights into the hardware artificial intelligence market with a detailed sample report: https://www.thebusinessresearchcompany.com/sample_request?id=14390&type=smp

Key Players and Market Trends
Major companies in the hardware artificial intelligence market include Google Plc, Samsung Electronics Co. Ltd., Microsoft Corporation, Dell Technologies Inc., Bosch GmbH, Huawei Technologies Co. Ltd., Intel Corporation, and NVIDIA Corporation, among others. These companies are focusing on developing technologically advanced products, such as new AI chips, to meet the rising demand for specialized AI hardware.

For instance, in December 2023, Advanced Micro Devices, Inc. launched two new AI chips, the Instinct MI300X accelerator and the Instinct MI300A accelerated processing unit (APU), designed to train and run large language models (LLMs). These chips are more energy-efficient and offer greater memory capacity compared to previous versions, positioning them as strong competitors to Nvidia’s H100 chips in training LLMs and outperforming on the inference side. Such innovations are crucial for powering advancements in generative AI and handling the complex computational requirements of AI algorithms.

Segments:
• Type: Processor, Network, Storage
• Product: Central Processing Unit (CPU), Graphics Processing Unit (GPU), Application-Specific Integrated Circuit (ASIC), Field-Programmable Gate Array (FPGA), Memory, Modules
• Technology: Machine Learning, Computer Vision, Other Technologies
• 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

Geographical Insights: North America Leading the Market
North America was the largest region in the hardware artificial intelligence market in 2023. The report also covers regions such as Asia-Pacific, Western Europe, Eastern Europe, South America, the Middle East, and Africa, providing detailed insights into regional dynamics, market trends, and growth opportunities.

Access the complete report for an in-depth analysis of the hardware artificial intelligence market: https://www.thebusinessresearchcompany.com/report/hardware-artificial-intelligence-global-market-report

Hardware Artificial Intelligence Global Market Report 2024 from TBRC covers the following information:
•Market size data for the forecast period: Historical and Future
•Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
•Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Hardware Artificial Intelligence Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on hardware artificial intelligence market size, hardware artificial intelligence market drivers and trends, hardware artificial intelligence market major players, competitors' revenues, market positioning, and market growth across geographies. The hardware artificial intelligence market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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