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AI Infrastructure Market
The AI infrastructure market is fueled by AI's capability to automate complex tasks, boost operational efficiency, and reduce the rising costs of manual labor.
PORTLAND, OR, UNITED STATES, September 11, 2024 /EINPresswire / -- According to the report, the global AI infrastructure market size generated $23.5 billion in 2021, and is estimated to reach $309.4 billion by 2031, witnessing a CAGR of 29.8% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key
investment pockets, value chain, regional landscape, and competitive scenario.
AI infrastructure refers to the hardware, software, and systems needed to support the development, deployment, and scaling of artificial intelligence (AI) applications. It includes powerful computing resources (like GPUs, TPUs), data storage solutions, networking components, and specialized AI frameworks and tools. This infrastructure is essential for handling large datasets, performing complex computations, and facilitating machine learning, deep learning, and other AI-driven processes efficiently across various industries.
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Ability of AI-based technology to enable machines to automate complex tasks such as driving cars, holding conversations, filtering e-mail, and other things, growing demand for improving operational efficiency, and the rising cost of manual labor drive the growth of the global AI infrastructure market. However, a lack of skilled professionals in the industry to develop, manage, and implement AI technology hampers the global market growth. On the other hand, increasing digital dependence and implementation of industry 4.0 trends present new growth opportunities for the global market in the coming years.
Covid-19 Scenario
1. The AI infrastructure market exhibited notable growth during the outbreak of the COVID-19 pandemic. This is due to the rise in need for artificial intelligence among enterprises to meet their customers' needs and upsurge their revenue opportunity.
2. Many businesses invested in AI-based solutions to ease the increasing complexity of the IT needs of many businesses during the pandemic.
3. In addition, surge in investment in AI based technology by various private sectors such as healthcare and medical research to fight the pandemic propelled the growth of the market.
Based on region, North America was the largest market in 2021, capturing more than one-third of the global AI infrastructure market, owing to high concentration of artificial intelligence solution vendors in the region. However, the market in Asia-Pacific is expected to lead in terms of revenue and manifest the fastest CAGR of 36.0% during the forecast period. This is due to the ongoing rapid digital transformation trends in this region.
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Based on end-users, the enterprises segment held the largest market share of more than three-fifths of the global AI infrastructure market in 2021 and is expected to maintain its dominance during the forecast period. This is because AI infrastructure solutions make it easier for enterprises to automate customer services and provide a personalized experience to customers. Furthermore, these technologies help business leaders make effective data-driven decisions. On the other hand, the cloud service providers (CSPs) segment is projected to witness the largest CAGR of 33.5% from 2022 to 2031. A solution for AI has been made available by the major cloud service providers. They built AI infrastructure by utilizing their considerable technological know-how and financial resources to offer cutting-edge solutions.
Based on technology, the machine learning segment was the largest market in 2021, contributing to more than two-thirds of the global AI infrastructure market, and is expected to maintain its leadership status during the forecast period. This is because machine learning solutions are utilized to uncover numerous trends and patterns, assisting businesses in improving their decision-making capabilities. On the other hand, the deep learning segment is projected to witness the fastest CAGR of 33.3% from 2022 to 2031. This is because the deep learning technology has been instrumental in the discovery of exoplanets and novel drugs and the detection of diseases and subatomic particles and many more.
Based on components, the hardware segment was the largest market in 2021, contributing to more than half of the global AI infrastructure market, and is expected to maintain its leadership status during the forecast period. This is because advances in hardware technologies are enabling AI to transform industries worldwide, from financial services to manufacturing, healthcare, and many others. On the other hand, the services segment is projected to witness the fastest CAGR of 33.8% from 2022 to 2031. This is because the adoption of AI infrastructure services enhances software implementation, maximizes the value of existing installation by optimizing it, and minimizes the deployment cost & risks, and others.
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Leading Market Players
NVIDIA Corporation
Microsoft Corporation
Alphabet Inc.
Intel Corporation
Toshiba Corporation
Micron Technology, Inc.
Amazon, Inc.
Oracle Corporation
Samsung Electronics Co., Ltd.
IBM Corporation
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MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.