SkyQuest Technology Consulting Pvt. Ltd.SkyQuest Technology Consulting Pvt. Ltd.

SkyQuest Technology Consulting Pvt. Ltd.

Westford, USA, May 07, 2024 (GLOBE NEWSWIRE) — SkyQuest projects that the artificial intelligence (AI) in hardware market will attain a value of USD 113.30 billion by 2031, with a CAGR of 26.96% over the forecast period (2024-2031). Hardware designed specifically for artificial intelligence (AI) applications is known as AI hardware. The growing use of artificial intelligence in different industry verticals and advancements in hardware technology is projected to primarily drive artificial intelligence (AI) in hardware market growth over the coming years.

Download a detailed overview:

Browse in-depth TOC on “Artificial Intelligence (AI) in Hardware Market”

  • Pages – 197

  • Tables – 58

  • Figures – 75

Artificial Intelligence (AI) in Hardware Market Overview:

Report Coverage


Market Revenue in 2023

$ 16.78 billion

Estimated Value by 2031

$ 113.30 billion

Growth Rate

Poised to grow at a CAGR of 26.98%

Forecast Period


Forecast Units

Value (USD Billion)

Report Coverage

Revenue Forecast, Competitive Landscape, Growth Factors, and Trends

Segments Covered

Technology, Application, Product Type, Platform End-Use, and Region

Geographies Covered

North America, Europe, Asia Pacific, and the Rest of the world

Report Highlights

Updated financial information / product portfolio of players

Key Market Opportunities

Expansion of AI applications in different industry verticals

Key Market Drivers

Advancements in hardware technology

Pivotal Role of Processors in AI Algorithm Processing Helps Them Hold a Dominant Stance

Processors are projected to emerge as the most sought-after AI hardware in the global landscape. Advancements in processor technology and growing investments in the R&D of novel silicon technology to improve the performance and efficiency of processors will help this segment maintain its dominance in the global artificial intelligence (AI) in hardware market.

High Use of Machine Learning in Different AI-based Applications Makes it a Sought-after Technology

Artificial intelligence hardware designed specifically for machine learning technology will be high in demand over the coming years. Machine learning plays a pivotal role in different AI-based applications such as predictive analytics, image recognition, and natural language processing. This is why AI hardware for machine learning technology will be in demand going forward.

Robust IT Infrastructure Helps North America Maintain its Dominance in Global Landscape

The rapid adoption of novel technologies supported by the presence of a strong IT infrastructure is what makes North America a leading market for artificial intelligence (AI) in hardware companies. Continual innovations in AI technology and growing R&D activity for the creation of novel AI hardware in this region also helps North America maintain its dominance. Rising use of artificial intelligence in manufacturing and technology applications is what helps the United States lead the demand for artificial intelligence (AI) in hardware in this region.

Request Free Customization of this report:

Artificial Intelligence (AI) in Hardware Market Insights:


  • Rising use of AI-enables devices and systems.

  • Advancements in hardware technology.

  • Rising use of artificial intelligence in different industry verticals.


Prominent Players in Artificial Intelligence (AI) in Hardware Market

  • Apple

  • Intel


  • Qualcomm Technologies

  • Huawei Technologies

  • Samsung Electronics

  • IBM

  • Micron Technology

  • Xilinx

  • Google

View report summary and Table of Contents (TOC):

Key Questions Answered in Artificial Intelligence (AI) in Hardware Market Report

This report provides the following insights:

  • Analysis of key drivers (rising demand for AI-enables devices, growing application scope of AI, advancements in hardware technology), restraints (interoperability and compatibility issues, high costs of development and deployment), and opportunities (growing acceptance of AI in different industry verticals, increasing collaboration amongst AI contributors), influencing the growth of Artificial intelligence (AI) in hardware market.

  • Market Penetration: All-inclusive analysis of product portfolio of different market players and status of new product launches.

  • Product Development/Innovation: Elaborate assessment of R&D activities, new product development, and upcoming trends of the Artificial intelligence (AI) in hardware market.

  • Market Development: Detailed analysis of potential regions where the market has potential to grow.

  • Market Diversification: Comprehensive assessment of new product launches, recent developments, and emerging regional markets.

  • Competitive Landscape: Detailed analysis of growth strategies, revenue analysis, and product innovation by new and established market players.

Related Reports:

Global Artificial Intelligence Market

Global Artificial Intelligence of Things (AIoT) Market

Global Edge Artificial Intelligence (AI) Market

Global Mobile Artificial Intelligence (AI) Market

Global Artificial Intelligence (AI) Robots Market

About Us:

SkyQuest Technology is leading growth consulting firm providing market intelligence, commercialization and technology services. It has 450+ happy clients globally.

We work closely with innovators, inventors, innovation seekers, entrepreneurs, companies and investors alike in leveraging external sources of R&D. Moreover, we help them in optimizing the economic potential of their intellectual assets. Our experiences with innovation management and commercialization has expanded our reach across North America, Europe, ASEAN and Asia Pacific.


Mr. Jagraj Singh

Skyquest Technology

1 Apache Way,


Massachusetts 01886

USA (+1) 617-230-0741


Source link