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The hardware acceleration market is growing rapidly, mainly due to the wide digitization and automation that enormously increases the need for data processing. Other major hardware acceleration market trends include developments in low power, multi-core semiconductor platforms and Intellectual Property (IP) for AI, voice sensor processing, and embedded FPGA IP (eFPGA).
Major Players
Key players active in the market are
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Increased funding and support from public and private organizations and venture capitalists positively impact the market growth. According to Market Research Future (MRFR), the global hardware acceleration market is projected to escalate from USD 1.9 BN in 2022 to USD 78.472 BN by 2032, growing at a 51.20% CAGR throughout the review period (2023-2032).
Data volumes are growing continually with the rise in data applications over the past decade. Besides, modern data platforms like data lakes, warehouses, and lake houses pose challenges. The onset of COVID-19 influenced the hardware acceleration industry significantly. The rising need for rapid data processing and data analytics across verticals due to remote working created considerable market demand.
Moreover, the rising integration of artificial intelligence and machine learning presented several opportunities for the market players. The market is estimated to witness bolstering revenue rise market growth during the assessment period. The growing adoption of effective hardware acceleration in various industrial technologies, such as automotive, healthcare, and aerospace & defense, would boost the market size in future years.
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Hardware Acceleration Market – Segments
The market research report is segmented into types, applications, end-users, and regions. The type segment is sub-segmented into graphics processing unit, video processing unit, AI accelerator, regular expression accelerator, cryptographic accelerator, and others.
The application segment is sub-segmented into deep learning training, public cloud inference, enterprise inference, and others. The end-user segment is sub-segmented into information technology and telecommunication, BFSI, retail, hospitality, logistics, automotive, healthcare, energy, and others.
Hardware Acceleration Market – Regional Analysis
North America dominates the global hardware acceleration market. The strong presence of major key players, such as Xilinx, Intel, and NVIDIA, in the region positively impacts the hardware acceleration market size. Besides, factors such as the augmenting demand for advanced data analytics platforms and quality video & image processing drive the region’s hardware acceleration market share.
Hardware Acceleration Market – Competitive Analysis
The hardware acceleration market is estimated to witness several strategic partnerships alongside other strategic initiatives such as expansion, collaboration, mergers & acquisitions, and product & technology launches. Leading industry players invest significantly to drive research and development activities and expansion plans.
Industry/ Innovation/ Related News
Sep. 14, 2023 — NeuroBlade, a leader in data analytics acceleration, announced a partnership with Velox to elevate data analytics performance. The companies will work together to open source hardware acceleration for Presto and Velox. Integrating NeuroBlade’s SQL Processing Unit (SPU) technology into Velox will help introduce unprecedented performance advancements, ushering in a new era of data analytics.
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About Market Research Future:
Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis regarding diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.
