New York, July 27, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "AI In Hardware Global Market Report 2023" - https://www.reportlinker.com/p06480038/?utm_source=GNW
, 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.
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 Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, and affecting many every markets across the globe. The market is expected to reach $48.18 billion in 2027 at a CAGR of 23.25%.
The AI in hardware market consists of revenues earned by entities by providing AI in hardware services such as AI-optimized hardware design, AI consulting, AI accelerators, and cloud-based AI services.The market value includes the value of related goods sold by the service provider or included within the service offering.
The AI in hardware market also includes sales of AI chips and processors, robotics hardware, graphics processing units (GPUs), AI central processing units (CPUs), tensor processing units (TPUs), and AI processors that are used in providing AI in hardware services.Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
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.
North America was the largest region in the AI in hardware market in 2022.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 and Africa.
The main types of AI in hardware are processor, network, and storage.A processor, also known as a central processing unit (CPU), refers to an electronic circuit that serves as the brain of a computer or other electronic device.
It includes cloud and on-premise deployments, and it uses such technologies as machine learning, computer vision, natural language processing, and expert systems. These are used for several applications, including training and simulation, driver monitoring systems, surveillance and security, imaging and diagnosis, and robotic surgery, and the main end-users are the telecommunications and IT industries, banking and finance sectors, education, e-commerce, navigation, robotics, agriculture, and health care.
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 media and telecoms with 38%. Also, in February 2020, according to the reports shared by Wiggli., a US-based software as a service company, AI technologies such as predictive analytics and voice recognition were used by 32% of banking service providers. Therefore, the adoption of AI hardware in banking, IT, and telecom is driving the growth of the AI in hardware market.
Technological advancements are the key trends gaining popularity in the AI in hardware market.Major companies operating in the AI in hardware market are adopting new technologies to sustain their position in the market.
For instance, in April 2021, Intel Corporation, a US-based semiconductor technology corporation, launched 3rd generation Intel Xeon Scalable processors with built-in artificial intelligence (AI) acceleration.This innovative technology, combined with Intel’s portfolio of Ethernet adapters, FPGAs, persistent memory and storage, Intel® OptaneTM, optimized software solutions, high-performance computing (HPC), networking, and intelligent edge applications, enables performance and workload improvements.
Additionally, include features such as vector neural network instructions (VNNI), which accelerate convolutional neural networks, and tensor float 32 (BFLOAT16) support, which speeds up training and inference in deep learning models. With these AI acceleration capabilities, the 3rd generation Intel Xeon Scalable processors are well-suited for use in AI and machine learning applications.
In January 2020, Apple Inc., a US-based technology company, acquired XNOR.AI Inc., for $200 million. Through this acquisition, Apple Inc. aimed to improve the efficiency and privacy of its AI-powered features, such as facial recognition and object detection, by enabling them to run on-device instead of relying on cloud-based processing. XNOR.AI Inc. is a US-based software company that specializes in developing artificial intelligence hardware and software products.
The countries covered in the AI in hardware market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The AI in hardware market research report is one of a series of new reports that provides AI in hardware market statistics, including AI in hardware industry global market size, regional shares, competitors with aAI in hardware market share, detailed AI in hardware market segments, market trends and opportunities, and any further data you may need to thrive in the AI in hardware industry. This AI in hardware market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
Read the full report: https://www.reportlinker.com/p06480038/?utm_source=GNW
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