In a recently published report, Artificial Intelligence (AI) Hardware Market report for till 2030. The report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U S Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mention the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Artificial Intelligence (AI) Hardware Market products.
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Moreover, increase in ICT spending around the globe for hardware, software, services, new technologies and telecom among others is also anticipated to contribute to the growth of the market in the coming years. The spending on new technologies recorded around USD 0.6 million in 2018 and is further estimated to reach close to USD 1.3 million by 2023. The total ICT spending around the globe further recorded close to USD 5 million in 2019 and is further.
Global Artificial Intelligence (AI) Hardware Market is valued at approximately USD 9.8 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 37.5% over the forecast period 2020-2027. Artificial intelligence (AI) has been one of the most appealing technology in recent years. Artificial intelligence, is the simulation of human intelligence processes by machines, especially computer systems. This form of technology can be implemented in distinct hardware as well as software. Usually, artificial intelligence (AI) hardware reduces the need for developing ideal hardware to stimulate the demand for artificial intelligence applications. The AI hardware has three major parts, including computer, storage, and networking. Since the last few years, the computer has made the most substantial progress. The other two areas (i.e. storage and networking) are not as advanced yet to see the breakthrough concerning AI applications. Furthermore, the rise in demand for big data and analytics, technological development in AI hardware, along with the high adoption of AI hardware in banking and IT & Telecom are the few factors responsible for the CAGR of the market during the forecast period.
For instance, as per the New Vantage Partners, the number of firms investing more than USD 500 million annually in big data has grown from 12.7% in 2018 to 21.1% in 2019. Also, , according to the Worldwide Semiannual Big Data and Analytics Spending Guide released by International Data Corporation (IDC), businesses are spending USD 187 billion on big data and analytics in 2019.. This, in turn, is expected to strengthen the market growth all over the world. Although, the recent outbreak of the COVID-19 crisis has led to rise in utility & adoption for Artificial Intelligence (AI) Hardware, as they help in screening, tracking, and predicting the current and future patients with novel coronavirus infections. Therefore, this factor can create lucrative opportunities for the global AI hardware market in the forthcoming years. However, the limited availability of expertise and R&D activities are the major factors restraining the market growth over the forecast period of 2020-2027.
The regional analysis of the global Artificial Intelligence (AI) Hardware market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the early adoption of artificial intelligence technology, and the large presence of a new technology-based solution vendors in the region. Whereas Asia-Pacific is anticipated to exhibit the highest growth rate / CAGR over the forecast period 2020-2027. Factors such as the rising investment for deploying AI technology in different end-use industries, coupled with a growing demand for big data and analytics would create lucrative growth prospects for the Artificial Intelligence (AI) Hardware market across the Asia-Pacific region.
Major market player included in this report are:
Advanced Micro Devices, Inc.
Huawei Technologies Co., Ltd.
International Business Machines (IBM) Corp.
Intel Corp.
MediaTek Inc.
Nvidia Corporation
Qualcomm Inc.
Samsung Electronics Co., Ltd.
Xilinx Inc.
Rockwell Automation, Inc.
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The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Technology:
Machine Learning
Computer Vision
Natural Language Processing
Expert Systems
By Computation Type:
Central Processing Unit (CPU)
Graphics Processing Unit (GPU)
Application-Specific Integrated Circuits (ASICs)
Others
By End-User:
Banking, Financial Services and Insurance (BFSI)
IT and Telecom
Healthcare
Automotive
Aerospace and defense
Retail
Others
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027
Target Audience of the Global Artificial Intelligence (AI) Hardware Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors
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