New York, US, July 01, 2021 (GLOBE NEWSWIRE) -- Market Overview:
According to a comprehensive research report by Market Research Future (MRFR), “Global Hardware Acceleration Market information by Type, by End User, by Application and Region – forecast to 2027” the market is expected to grow from USD 3.12 billion in 2018 to USD 50 billion by 2025, at a CAGR of ~49%
Hardware Acceleration Market Scope:
As the world today moves fast, leading companies need to be data-driven and, more importantly, act on data insights with speed. On the other hand, CPU speed is not growing fast enough to keep up with demanding workloads, highly complex computing, and astronomical data growth.
Hardware acceleration offers specialized processors that can meet the need for speed to personalize customer experiences at the point of interaction and process billions of data points to detect fraudulent activity to pivoting strategies as new data indicates changing environments. Hardware acceleration allows businesses to scale up their operations and offer a superior customer experience effectively.
The hardware acceleration market is growing rapidly, mainly due to the wide digitization and automation that increases the need for data processing enormously. Other major hardware acceleration market trends include developments in low power, multi-core semiconductor platforms and Intellectual Property (IP) for Artificial Intelligence (AI), voice sensor processing, and embedded FPGA IP (eFPGA).
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Dominant Key Players on Hardware Acceleration Market Covered Are:
- Intel Corporation (US)
- NVIDIA Corporation (US)
- Advanced Micro Devices Inc. (US)
- Oracle Corporation (US)
- Achronix Semiconductor (US)
- Xilinx Inc. (US)
- Hewlett Packard Enterprise Company (US)
- IBM Corporation (US)
- Dell (US)
- Cisco Systems Inc. (US)
- Fujitsu Ltd (Japan)
- VMware Inc. (US)
- HAX (US)
- Enyx (France)
- Lenovo Group Limited (China)
- HWTrek (Taiwan)
- AlphaLab Gear (US)
- Wazer (China)
- Teradici (Canada)
- Revvx (India)
Market USP exclusively encompassed:
Market Drivers
With the rise in data applications over the past decade, data volumes are growing continually. Besides, modern data platforms like data lakes, data warehouses, data lake houses are posing challenges. The onset of COVID-19 influenced the hardware acceleration industry significantly. The rising need for rapid data processing and data analytics across verticals due to remote working created considerable market demand.
Moreover, the rising integration of artificial intelligence and machine learning presented several opportunities for the market players. The market is estimated to witness bolstering revenue rise market growth during the assessment period. The growing adoption of effective hardware acceleration in various industrial technologies, such as automotive, healthcare, and aerospace & defense would boost the market size in future years.
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Segmentation of Market covered in the research:
The hardware acceleration market research is segmented into types, applications, end-users, and regions. The type segment is sub-segmented into graphics processing unit, video processing unit, AI accelerator, regular expression accelerator, cryptographic accelerator, and others.
The application segment is sub-segmented into deep learning training, public cloud inference, enterprise inference, and others. The end-user segment is sub-segmented into information technology and telecommunication, BFSI, retail, hospitality, logistics, automotive, healthcare, energy, and others.
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Regional Analysis
North America dominates the global hardware acceleration market. The strong presence of major key players, such as Xilinx, Intel, and NVIDIA in the region, positively impacts the hardware acceleration market size. Besides, factors such as the augmenting demand for advanced data analytics platforms and quality video & image processing drive the region's hardware acceleration market share.
The US and Canada are major hardware acceleration markets in the region. The North American hardware acceleration market is predicted to retain its dominance over the global market throughout the forecast period.
Europe holds the second-best position globally in terms of hardware acceleration market revenue. The increasing adoption of AI, machine learning, and IoT-based systems and the rising demand for better efficiency and productivity of overall processes influence the market growth. Additionally, the spurring rise in information technology and telecommunication sectors boosts the region's hardware acceleration market size.
The Asia Pacific is witnessing significant growth in the hardware acceleration market value. The growing semiconductor and IT sectors in China, Japan, and India contribute to enhance the global hardware acceleration market growth in this region.
Also, the increasing adoption of AI, IoT, data analytics, and other technologies & solutions in various industries drive the market growth. Moreover, the spurring rise in Smartphone markets and demand for automated systems and fast networks & processors drives the hardware acceleration industry in the region.
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Industry News
The emergence of AI video analytics platforms with an ecosystem of partner solutions is one of the major hardware acceleration market trends. Hardware acceleration is extensively used to accelerate the most complex and latency-sensitive AI video inferencing applications. Besides, the integration of video machine-learning streaming servers in data centers to deliver whole application acceleration and support multiple neural networks on single hardware acceleration influences the market growth.
Furthermore, innovation in AI robotics, self-driving vehicles, drones, smart appliances, and industrial IoT are major growth drivers for the hardware acceleration market. The growth in cloud computing adoption and growing demand for AI and high-performance computing technologies, alongside the rise in data center numbers, accelerate the market growth. The rising integration of emerging technologies and the significant increase in online video content offer vast opportunities for the global hardware acceleration market.
On the other hand, factors impeding the hardware acceleration market's growth include high costs associated with hardware acceleration and lack of technical expertise for design technology & integration with emerging technologies. Exponential improvement in hardware, computing, storage, data platforms, and memory has opened up the need for data accelerators for businesses, meeting continued demand for speed and efficiency.
About Market Research Future:
Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis regarding diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.