The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

According to The Business Research Company’s AI In Hardware Global Market Report 2023, The global AI in hardware market is expected to grow from $16.82 billion in 2022 to $20.88 billion in 2023 at a compound annual growth rate (CAGR) of 24.14%. The global AI in hardware market size is expected to reach $48.18 billion in 2027 at a CAGR of 23.25%.

North America held the largest AI in hardware market share, and Asia-Pacific was the fastest-growing region in 2022.

AI In Hardware Market Driver

The usage of AI hardware in banking, IT, and telecommunications is likely to boost the AI in hardware market forward. Banking, information technology, and telecommunications are all expanding businesses. These industries are increasingly relying on artificial intelligence (AI) technologies to improve operations, enhance customer experiences, and drive innovation. In banking, AI hardware is used to improve fraud detection and prevention, risk management, and customer service. IT firms employ AI hardware to analyse vast volumes of data from connected devices in order to find abnormalities and forecast when maintenance is needed, whereas telecom companies utilise AI-enabled hardware to analyse network traffic in real-time in order to identify and resolve performance issues. For example, according to the Government Digital Service, a UK-based government organisation, IT and telecom embraced 29.5% of AI technology in January 2022. In 2021, banking and IT had the highest AI adoption rate (52%), followed by media and telecommunications (38%). Furthermore, according to Wiggli., a US-based software as a service firm, 32% of banking service providers deployed AI technology such as predictive analytics and speech recognition in February 2020. As a result, the adoption of AI hardware in banking, IT, and telecom is propelling the AI in hardware market forward.

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Key AI In Hardware Market Segments

The global AI in hardware market is segmented –

1) By Type: Processor, 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, Imaging And Diagnosis, Robotic Surgery

5) By End User: Telecommunication And IT industry, Banking And Finance Sectors, Education, Ecommerce, Navigation, Robotics, Agriculture, Health care

AI In Hardware Market Prominent Players

Major players in the AI in hardware market are Nvidia Corporation, Qualcomm Technologies, Samsung Electronics Co. Ltd., International Business Machines Corporation (IBM), Xilinx Inc., Micron Technology Inc., Huawei Technologies Co. Ltd., Intel Corporation, Google LLC, Microsoft Corporation, Advanced Micro Devices Inc., Apple Inc., Dell Technologies Inc., Amazon Web Services Inc., and Hewlett Packard Enterprise Company.

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Prominent AI In Hardware Market Trend

The primary trends gaining popularity in the AI in hardware market are technological developments. To maintain their market position, major players in the AI in hardware market are implementing new technologies. For example, Intel business, a US-based semiconductor technology business, introduced 3rd generation Intel Xeon Scalable processors with built-in artificial intelligence (AI) acceleration in April 2021. When paired with Intel’s range of Ethernet adapters, FPGAs, persistent memory and storage, Intel® OptaneTM, optimised software solutions, high-performance computing (HPC), networking, and intelligent edge applications, this breakthrough technology improves performance and workload.

The AI In Hardware Global Market Report 2023  provides comprehensive insights on the AI in hardware market size, trends and drivers, opportunities, strategies, and competitor analysis. The countries covered in the AI in hardware market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

View More Related Reports –

Artificial Intelligence Global Market Report 2023

Artificial Intelligence Services Global Market Report 2023

Hardware Support Services Global Market Report 2023

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