North America is the Largest Market Globally for Artificial Intelligence (AI) Hardware and Global Market to Reach US$77 Billion by 2030

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Industry Experts, Inc. unveiled the new market research report on AI Hardware Market. As per this report, the global market size for AI Hardware is estimated at US$25 billion in 2024 and is likely to register a 2024-2030 CAGR of 20.5% in reaching a projected US$76.7 billion by 2030. North America is the largest global market for AI Hardware with an estimated share of 34.2% in 2024. The region is home to major tech giants, such as NVIDIA, Intel, AMD, Apple, Google and IBM, which are prominent producers of AI hardware, such as GPUs and TPUs, in addition to investing heavily in research & development, thereby driving market growth.

One of the major factors propelling demand for AI Hardware includes growing demand for AI applications. An increase in the use of AI across industries, such as healthcare (for diagnostics), automotive (for autonomous vehicles) and retail (for personalized suggestions) has been driving the demand for effective hardware that can support complex algorithms and real-time processing. Further expansion is being enabled by innovations in chip design, such as smaller, more energy-efficient transistors and specialized AI accelerators that allow faster and more efficient computation.

This comprehensive market report provides an in-depth analysis of the AI Hardware market including industry landscape covering market outlook, growth drivers and constraints, Industry Adoption, SWOT analysis, market entry strategies, Porter's five forces and PESTEL analysis. The study also comprises pricing analysis, untapped market analysis, key market player profiles along with market shares, SWOT for leading players and market positioning of major players.

Machine Learning (ML) constitutes the primary application for AI Hardware on a worldwide basis, estimated to account for a share of 41.8% in 2024. In addition, the market for AI Hardware in this application area will also register the fastest 2024-2030 CAGR of 21.7%. ML is considered to be the heart of AI systems in terms of reinforcing most AI applications, such as deep learning, neural networks and predictive analytics, all of which need massive computing power.

This report studies the Artificial Intelligence Hardware (AI) market across all major regions including North America (The United States, Canada and Mexico), Europe (Germany, the United Kingdom, France, Italy, the Netherlands, Spain, Russia, Switzerland and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, Singapore, South Korea and Rest of Asia-Pacific), South America (Brazil, Argentina, Colombia, Chile, Peru and Rest of South America) and Middle East & Africa (United Arab Emirates, South Africa, Egypt, Saudi Arabia, Morocco, Kuwait, Qatar and Rest of Middle East & Africa).

The study analyzes the AI Hardware market based on Type – Processors, Network, Memory and Storage; Application – Machine Learning, Computer Vision, Natural Language Processing and Expert Systems; and Industry Sector – IT & Telecommunications, BFSI, Healthcare, Retail, Automotive and Others.

About Industry Experts, Inc.
Industry Experts, Inc., ranks among the leading market research providers globally. The company's off-the-shelf and customized business intelligence reports offer strategic insights and valuable guidance to enable various stakeholders, such as corporate strategists, analysts, researchers and startups, among others, in obtaining valuable, crisp and unbiased current and future market data. For more information, contact us on +1-320-497-3787 or visit https://industry-experts.com/

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