The AI In Hardware Market is being driven by Explosive growth of generative AI and large language models
The AI In Hardware Market is expected to grow at a CAGR of 27.6% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 149612.7 million. The global AI in hardware market is witnessing a significant shift from generic hardware solutions to domain-specific architectures, as the maturation of the AI industry necessitates hardware that is meticulously optimized for specific workloads and applications. Previously, general-purpose GPUs laid the groundwork for the deep learning revolution. However, to maximize performance per watt and performance per dollar, the industry now requires hardware that is precisely tailored to particular use cases. This trend is most evident in the aggressive pursuit of custom silicon by hyperscale cloud providers. For instance, Amazon Web Services (AWS) advanced its strategy in November 2023 with the launch of its Inferentia2 chip, specifically engineered for inference workloads, and its Trainium2 chip for training. These companies are designing application-specific integrated circuits (ASICs) that cater to their unique software ecosystems.
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The market is segmented based on
According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows:
However, the market also witnesses some limitations, which are as follows:
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Market Scope |
|
Report Coverage |
Details |
Page number |
251 |
Base year |
2024 |
Historic period |
2019-2023 |
Forecast period |
2025-2029 |
Growth momentum & CAGR |
Accelerate at a CAGR of 27.6% |
Market growth 2025-2029 |
USD 149612.7 million |
Market structure |
fragmentation |
YoY growth 2024-2025(%) |
22.6 |
Key countries |
US, China, Canada, Japan, Germany, UK, South Korea, Mexico, France, and India |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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The AI hardware market encompasses various components including AI accelerator cards, specialized hardware for artificial intelligence, platforms that facilitate AI hardware development and deployment, testing and benchmarking tools, and the lifecycle management of AI hardware. Key considerations include security, cost, efficiency, scaling, reliability, maintenance, architecture, design, optimization, selection, performance, monitoring, management, upgrades, solutions, vendors, ecosystem, trends, research, and innovation in AI hardware.
The AI-powered hardware market, encompassing machine learning accelerators, deep learning chips, and neural network processors, is a significant segment of the global technology hardware, storage, and peripherals market. According to Technavio, this market is a crucial component of the larger global technology hardware, storage, and peripherals market, which includes manufacturers of IT hardware devices, equipment, and components, such as cellular phones, personal computers, servers, electronic computer components, data storage components, motherboards, audio and video cards, monitors, keyboards, printers, and other peripherals. The global technology hardware, storage, and peripherals market size is determined by the revenue generated from the sales of these hardware devices and components. Key growth drivers for this market include the increasing volume, velocity, veracity, and variety (4Vs) of data, necessitating the demand for advanced data storage solutions.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
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