Hardware Acceleration Market
Hardware Acceleration Market Analysis by Graphics Processing Units, Video Processing Units, AI Accelerators, Regular Expression Accelerators, and Cryptographic Accelerators from 2023 to 2033
Analysis of Hardware Acceleration Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Hardware Acceleration Market Outlook (2023 to 2033)
The global hardware acceleration market stands at US$ 2.87 billion in 2023. Worldwide demand for hardware acceleration technology is projected to skyrocket at a CAGR of 51% and reach a market value of US$ 177 billion by 2033.
Demand for hardware acceleration is predicted to grow due to the increasing requirement for better task execution and video encoding & decoding across different industrial sectors. The rising utilization of different hardware acceleration tools in machine learning or deep learning applications is also contributing to market growth.
Smoother program execution and enhanced performance are some of the potential benefits of hardware acceleration. Further, optimization of the CPU (central processing unit) leads to more effective system performance. These elements are predicted to contribute to market expansion.
Growing requirements for energy optimization and the rising number of battery-powered devices are driving forces behind the increased demand for hardware acceleration in numerous smart devices. Moreover, websites are becoming fancier and include a significant amount of graphical effects to attract and retain customers. These websites use 3D graphics at an increased rate and can get profits with the implementation of hardware acceleration solutions.
Significant advancements in video & imaging analytics and IoT (Internet of Things) industries are driving the hardware acceleration market. The innovation in AI (artificial intelligence), robotics, and autonomous vehicles is predicted to significantly influence the global market over the coming 10 years.
Increasing number of data that is generated in the industrial sector from different sources is gaining importance, which is further contributing to the growth of data processing and management. These factors are projected to aid the market expansion.
Rising use of hardware acceleration technology in machine learning or deep learning applications is forecasted to pave the way for its increased demand. This technology is also used by various customers to perform tasks more efficiently and in an optimized manner.
The inability of hardware acceleration technology to perform all 2D drawing procedures and its prohibitive expenses adversely impact market growth opportunities.
Fact.MR, a market research and competitive intelligence provider, published a detailed research report on the hardware acceleration landscape. This newly published research report offers a thorough understanding of various market dynamics, which include growth opportunities, key product launches, key challenges, regional analysis, and several other pivotal factors.
| Report Attributes | Details |
|---|---|
|
Hardware Acceleration Market Size (2022) |
US$ 1.9 Billion |
|
Global Market Value (2023) |
US$ 2.87 Billion |
|
Forecasted Market Value (2033) |
US$ 177 Billion |
|
Global Market Growth Rate (2023 to 2033) |
51% CAGR |
|
Key Type |
Graphics Processing Units |
|
Key Companies Profiled |
|
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Which Factors are Fueling Demand for Hardware Acceleration Technology?
“Rising Adoption of Artificial Intelligence Driving Demand Growth for Hardware Acceleration Technology”
Increasing implementation of hardware accelerator technology in artificial intelligence (AI) is generating lucrative opportunities for market players. The Internet of Things (IoT), robot algorithms, and similar applications, which need a lot of sensors or data-driven work, are some examples of AI that are contributing to the rising demand for hardware acceleration tools.
Machine learning, artificial neural networks, and machine vision are some popular applications of hardware acceleration solutions. Artificial intelligence is greatly influenced by accelerators, which are further contributing to market expansion.
Hardware acceleration of graphic cards can assist the respective user for different applications, including games, designing, video playback, and similar applications that require quicker mathematical operations. GPU (Graphics Processing Unit) hardware acceleration is becoming popular in numerous AI-related applications. Areas such as deep learning and reasoning on systems, agricultural robots, autonomous vehicles, military robots, and others are also predicted to generate demand for hardware acceleration solutions. These services ensure fluid streaming and browsing while saving energy and time for users.
“Shift from High-performance Personal Computers to Energy-efficient Electronics”
At present, a majority of people are shifting from high-performance personal computers to various energy-efficient electronics, including tablets, smartphones, etc. This is further contributing to increased demand for technologies and tools, including graphics cards and others. This growing demand for advanced technologies is anticipated to serve as one of the prominent driving forces for increased demand for hardware acceleration.
What are the Challenges Encountered by Providers of Hardware Acceleration Technology?
“High Cost of Hardware Acceleration Solutions”
The cost of hardware acceleration technology is high and it is not possible for all customers to opt for these solutions. This creates certain restraints in the demand for hardware acceleration tools around the world.
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What are the Strategies Adopted by New Players to Gain Profits in This Market?
“Investments to Integrate Hardware Acceleration Technology in Various Smart Devices”
At present, increasing concentration on the requirements for energy optimization along with rising demand for battery-powered devices is leading to the development of more advanced technology. Start-ups are investing to integrate hardware acceleration technology in smart devices. In addition, the inclination toward graphical effects on websites is leading to the rising use of 3D graphics, which is estimated to generate opportunities for new entrants.
Country-wise Insights
What’s Leading to Lucrative Opportunities for Suppliers of Hardware Acceleration Technology in the United States?
“Extensive Application of Cloud Computing Generating Huge Demand for Hardware Acceleration”
The United States market is projected to hold a significant share of the regional market revenue over the coming decade. The increasing application of cloud computing technology is predicted to boost opportunities for hardware acceleration suppliers. Numerous data centers in the United States are using hardware acceleration technology, which is also prompting market growth.
The presence of many prominent industry players, including NVIDIA Corporation, Intel Corporation, Xilinx Inc., etc., along with some other well-known organizations are also contributing to market expansion over the coming 10 years.
Which Countries are Prominent Markets for Hardware Acceleration in Europe?
“Increasing Adoption of Several Contemporary Technologies in United Kingdom and Germany”
The United Kingdom and German markets are prominent landscapes from the European region, which are boosting the demand for hardware acceleration solutions. The rising adoption of various contemporary technologies, including machine learning, IoT-based systems, and artificial intelligence (AI) leads to market growth.
Growing requirements for performance efficiency and productivity are pivotal factors behind the market expansion. The booming information technology and telecommunication industries are propelling the demand for hardware acceleration technology.
Which Asia Pacific Countries are Being Targeted by Suppliers of Hardware Acceleration Technology?
“China, Japan, India – Prominent Markets in Asia Pacific”
Significant expansion of the information technology and semiconductor industries in countries, including Japan, India, and China is contributing to market expansion. The increasing desire for performance efficiency and productivity among end-use industries is driving market growth in these countries.
The Indian market is predicted to expand rapidly and the Chinese market is forecasted to hold the largest share of the regional market revenue over the coming decade.
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Category-wise Insights
Which Type of Hardware Acceleration Technology is Projected to Experience Significant Demand Growth?
“Rising Use of Graphics Processing Units for Various Computation Activities”
Based on type, the global market is classified into graphics processing units, AI (artificial intelligence), video processing units, regular expression accelerators, and cryptographic accelerators. Among these, the demand for graphics processing units is predicted to increase at a significant rate due to their growing use in different industries. Customers can get profits from GPU-enabled hardware acceleration in different supported programs, which include playing video games, watching videos, etc.
The technology is also used to perform activities involving quick mathematical computations. It enables much smoother media and browsing viewing, which helps in the increased product demand. Since 2021, GPU hardware acceleration is gaining popularity for AI tasks and it is presently expanding in various fields, including training in gadgets and deep learning for inference, including industrial robots, autonomous cars, etc.
Which Area Accounts for Wide Application of Hardware Acceleration Technology?
“Substantial Demand for Hardware Acceleration Technology for Deep Learning Training”
Deep learning training, public cloud inferences, and enterprise inferences are some popular applications of hardware acceleration. Among these, the implementation of hardware acceleration for deep learning training is generating significant revenue. The demand for hardware acceleration is projected to accelerate for video encoding as well as decoding. In addition, the increasing use of various hardware acceleration tools in multiple deep learning activities is also generating substantial revenue.
Key Market Players
Strengthening supply chain management systems, maintaining product standards, quality control, and various similar initiatives are implemented by market players operating in the hardware acceleration landscape. These strategies are predicted to assist key players in value addition to their existing portfolio and the expansion of their footprints globally.
Key players in the hardware acceleration market include NVIDIA Corporation, Advanced Micro Devices Inc., Intel Corporation, Achronix Semiconductor, Xilinx Inc., Oracle Corporation, IBM Corporation, Lenovo Group Limited, Hewlett Packard Enterprise Company Dell, Fujitsu Ltd., VMware Inc., Cisco Systems Inc., Enyx, AlphaLab Gear, Wazer, HWTrek, Teradici, HAX, and Revvx.
Segmentation of Hardware Acceleration Industry Research
-
By Type :
- Graphics Processing Units
- Video Processing Units
- AI (Artificial Intelligence) Accelerators
- Regular Expression Accelerators
- Cryptographic Accelerators
-
By Application :
- Deep Learning Training
- Public Cloud Inferences
- Enterprise Inferences
-
By Region :
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
- FAQs -
What was the value of the hardware acceleration market in 2022?
The global hardware acceleration market was valued at US$ 1.9 billion in 2022.
What is the value of the global market in 2023?
Worldwide demand for hardware acceleration stands at a market value of US$ 2.87 billion in 2023.
What is the expected growth rate of the global market through 2033?
The market for hardware acceleration is forecasted to accelerate at a commendable CAGR of 51% from 2023 to 2033.
What is the anticipated valuation of the hardware acceleration market for 2033?
The hardware acceleration market is forecasted to reach US$ 177 billion by the end of 2033.
Which markets from the European region are the most rewarding for suppliers?
The United Kingdom and Germany are key markets in Europe that are contributing to the huge demand for hardware acceleration.
Which technology of hardware acceleration has been gaining widespread popularity in recent years?
Demand for graphics processing units has been increasing at a significant rate across the globe.
Which companies are key providers of hardware acceleration solutions?
Key market players include NVIDIA Corporation, Advanced Micro Devices Inc., Intel Corporation, Achronix Semiconductor, Oracle Corporation, IBM Corporation, Lenovo Group Limited, Fujitsu Ltd., and VMware Inc.
Hardware Acceleration Market
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