Many industries are using AI when it comes to the specific workload. These advancements of dynamic hardware related to the AI applications is leading to a growth in the market.
The global artificial intelligence in hardware market size was valued at US$10.41 billion in 2021 and is projected to surpass around US$89.22 billion by 2030. It is said to be growing at a compound annual growth rate (CAGR) of 26.96% from 2022 to 2030. Availability of high-speed internet and increase in the number of internet consumers across the globe is driving the growth of the market.
Due to the shutdown across majority auto countries due to pandemic and disrupted supply chain activities except for the ones that were dealing with the essential goods the manufacturing activities had stopped. Post pandemic major market players are taking efforts to enhance their production capabilities in order to provide for the growing demand. These companies are bringing in accurate and advanced devices to improve the technology.
Artificial intelligence hardware is widely adopted in various industries like telecom, banking and IT. And the growth in these industries is expected to drive the market of the artificial intelligence hardware in the coming years. Availability of high speed Internet and increase in the number of Internet consumers across the globe is driving the growth of the market. Use of robotics and artificial intelligence in many different industries will create a demand for the hardware.