Overview and Scope
AI in hardware refers to the use of artificial intelligence (AI) technologies in hardware devices or systems. This includes the use of machine learning algorithms, deep learning models, and other AI techniques to enhance the functionality, performance, and efficiency of hardware devices such as computers, smartphones, and Internet of Things (IoT) devices.
Sizing and Forecast
The ai in hardware market size has grown exponentially in recent years. It will grow from $20.88 billion in 2023 to $25.96 billion in 2024 at a compound annual growth rate (CAGR) of 24.3%. The growth in the historic period can be attributed to strong economic growth in emerging markets, increase in penetration of smartphones and rise in adoption of ai hardware in banking, it and telecom.
The ai in hardware market size is expected to see exponential growth in the next few years. It will grow to $58.61 billion in 2028 at a compound annual growth rate (CAGR) of 22.6%. The growth in the forecast period can be attributed to rapid urbanization, increasing penetration of the internet, increase in smart cities, increasing demand for autonomous vehicles and growing demand for cloud computing. Major trends in the forecast period include rapid urbanization, increasing penetration of the internet, increase in smart cities, increasing demand for autonomous vehicles and growing demand for cloud computing.
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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
North America was the largest region in the AI in hardware market in 2023. 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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Major Driver Impacting Market Growth
The adoption of AI hardware in banking, IT, and telecom is expected to propel the growth of the AI in hardware market going forward. Banking, IT and telecom are all growing industries. These industries are increasingly leveraging AI technologies to enhance their operations, improve customer experiences, and drive innovation. AI hardware is used in banking to enhance fraud detection and prevention, risk management, and customer service. IT companies use AI hardware to analyze large amounts of data from connected devices to detect anomalies and predict when maintenance is required and telecom companies use AI-enabled hardware to analyze network traffic in real-time to identify and fix performance issues. For instance, in January 2022, according to the Government Digital Service., a UK-based government office, IT and telecom adopted 29.5% of AI technology. In 2021, the highest AI adoption was in banking and IT, with 52%, and in media and telecoms with 38%. Therefore, the adoption of AI hardware in banking, IT, and telecom is driving the growth of the AI in hardware market.
Key Industry Players
Major companies operating in the ai in hardware market report are Qualcomm Technologies, Alphabet Inc., Micron Technology, NVDIA 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
The ai in hardware market report table of contents includes:
1. Executive Summary
2. AI In Hardware Characteristics
3. AI In Hardware Trends And Strategies
4. AI In Hardware – Macro Economic Scenario
5. Global AI In Hardware Size and Growth
…..
32. Global AI In Hardware Competitive Benchmarking
33. Global AI In Hardware Competitive Dashboard
34. Key Mergers And Acquisitions In The AI In Hardware
35. AI In Hardware Future Outlook and Potential Analysis
36. Appendix
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