Global AI Infrastructure Market
Rapid growth of smart connected devices & massive rise in data consumption is placing enormous pressure on underlying data center infrastructure boost market.
PORTLAND, PORTLAND, OR, UNITED STATE, July 25, 2023/EINPresswire.com/ — Allied Market Research published a new report, titled, ” The Global AI Infrastructure Market Reach to USD 309.4 Billion by 2031 | Top Players Such as – Alphabet, Micron and NVIDIA.” The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter’s Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry and determine steps to be taken to gain competitive advantage.
The global AI infrastructure market was valued at USD 23.5 billion in 2021, and is projected to reach USD 309.4 billion by 2031, growing at a CAGR of 29.8% from 2022 to 2031.
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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. Increasing digital dependence and implementation of industry 4.0 trends present new growth opportunities for the global market in the coming years.
The AI infrastructure market is segmented on the basis of component, deployment mode, technology, application, end user, and region. By component, it is divided into hardware, software and services. By deployment mode, it is classified into on-premise, hybrid and cloud. On the basis of technology, it is bifurcated into machine learning and deep learning. By application, the market is classified into AI training, inferencing and others. By end user, the market is categorized into enterprises, government and cloud service providers (CSPs). Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
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Based on component, 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.
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.
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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.
The key players that operate in the AI infrastructure market analysis Alphabet Inc., Amazon.com, Inc., IBM Corporation, Intel Corporation, Micron Technology, Inc., Microsoft Corporation, NVIDIA Corporation, Oracle Corporation, Samsung and Toshiba Corporation.
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Covid-19 Scenario
● 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.
● Many businesses invested in AI-based solutions to ease the increasing complexity of the IT needs of many businesses during the pandemic.
● 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.
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