Hardware Acceleration Market Size to Surge with a Projected Growth of 49.2% by 2030

Hardware Acceleration Market size was valued at US$ 22.92 Bn. in 2023 and the total revenue is expected to grow at 49.2% through 2024 to 2030, reaching nearly US$ 377.36 Bn.

Hardware Acceleration Market Overview

Hardware acceleration is a method that can accomplish tasks like clear, high-definition images and high-quality playback and sound recording more efficiently than software running on a universal central processing unit (CPU). Hardware acceleration is designed to help with particular tasks. Large arithmetic operations and workloads can be accelerated with the assistance of GPU or video processing devices. Future innovations in the hardware acceleration market are made possible by the Al-accelerator, a microprocessor for highly specialized tasks, and the introduction of GPUs.

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Hardware Acceleration Market Scope and Methodology:

The objectives of this report are to determine customer preferences in the Hardware Acceleration Market sector, as well as to comprehend the market’s size, noteworthy trends, competitive environment, and state of affairs. Researchers explore academic literature, trade periodicals, industry studies, market analysis, and online repositories when conducting secondary research. By giving a basic overview of the industry landscape, this strategy makes it easier to identify current insights and knowledge gaps. Primary research entails utilizing techniques like focus groups, surveys, interviews, and observational studies to obtain first-hand information from important stakeholders, such as retailers, manufacturers, government agencies, and industry professionals in the Hardware Acceleration Market. Researchers use sampling strategies that take regional distributions and demographics into account to guarantee validity and representativeness.

Key Drivers of Growth

Several factors are driving the unprecedented growth of the hardware acceleration market. Enhanced performance and smoother program execution are among the primary benefits, allowing users to complete multiple tasks with greater efficiency. As battery-powered devices proliferate and the demand for energy optimization intensifies, manufacturers are increasingly incorporating hardware acceleration into smart devices.

The rise of sophisticated websites utilizing 3D graphics and the growing demand for GPU hardware acceleration in sectors like AI, autonomous vehicles, and robotics are further propelling the market. With the surge in data applications, particularly in industrial sectors where video and imaging analytics are crucial, the importance of hardware acceleration has never been more pronounced.

Challenges and Opportunities

Despite its immense potential, the market faces challenges. The high cost of hardware acceleration and its limitations in performing all 2D drawing processes could hinder its growth. However, the expanding applications in IoT, autonomous vehicles, and AI present significant opportunities for innovation and market expansion.

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Hardware Acceleration Market Segmentation

by Type

Video Processing Unit
Graphics Processing Unit
AI Accelerator
Regular Expression Accelerator
Cryptographic Accelerator
Others

The global hardware acceleration market is divided into three segments based on type: graphics processing units, video processing units, and others. In 2023, the Graphics Processing Units category had the biggest market share. The rise is attributed to the broad adoption of GPU in various industries. GPU-enabled hardware acceleration benefits users in all supported applications, including watching videos, playing games, and performing any task requiring quick arithmetic computations. It also makes browsing and media viewing in browsers much smoother, which boosts market expansion. In 2023, GPU hardware acceleration for AI applications gained popularity. This growth has continued into deep learning applications for both inference and training in devices including as autonomous cars, military robots, agricultural robots, and more.

by Application

Deep Learning Training
Public Cloud Inference
Enterprise Inference
Others

by Industry Vertical

IT and Telecom
BFSI
Retail
Hospitality
Logistics
Automotive
Healthcare
Energy
Others

The global hardware acceleration market is divided into several segments based on verticals, including IT and Telecom, BFSI, Retail, Hospitality, Logistics, Automotive, Healthcare, Energy, and Others. In 2023, the BFSI category had the biggest market share. Hardware accelerators are expected to be in high demand in the banking and financial services, information technology, and technology sectors due to the ongoing need for enhanced performance in these areas. In addition, the IT and telecom sectors’ present investments in developing nations like China and India are probably going to increase demand for hardware accelerators there.

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Hardware Acceleration Market Key Players

NVIDIA Corporation
Intel Corporation
Advanced Micro Devices, Inc
Achronix Semiconductor
Oracle Corporation
Xilinx, Inc
IBM Corporation
Hewlett Packard Enterprise Company
Dell
Lenovo Group Limited
Fujitsu Ltd
Cisco Systems, Inc.
VMware, Inc.
Enyx
HAX
Revvx
AlphaLab Gear
HWTrek
Wazer
Teradici

Hardware Acceleration Market Regional Insights

Gaining an in-depth understanding of regional viewpoints is necessary to comprehend the intricate dynamics of the Hardware Acceleration market. The numerous regions that comprise the Hardware Acceleration market include North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa. The study offers a comprehensive analysis of the factors, market size, growth rate, and volume of imports and exports in every area. The Regional Analysis section displays the current status of the Hardware Acceleration market in each of the countries covered in the research.

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Key questions answered in the Hardware Acceleration Market are:

What is Hardware Acceleration?
Who are the leading companies and what are their portfolios in Hardware Acceleration Market?
What growth strategies are the players considering to increase their presence in Hardware Acceleration?
What are the upcoming industry applications and trends for the Hardware Acceleration Market?
Which are the factors expected to drive the Hardware Acceleration market growth?
What are the recent industry trends that can be implemented to generate additional revenue streams for the Hardware Acceleration Market?
What will be the CAGR at which the Hardware Acceleration market will grow?
What is the growth rate of the Hardware Acceleration Market?
What segments are covered in the Hardware Acceleration Market?
What are the key challenges and opportunities in the Hardware Acceleration market?
Which application holds the highest potential in the Hardware Acceleration market?
Who are the key players in the Hardware Acceleration market?

Key Offerings:

Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region
Market Segmentation – A detailed analysis by segment with their sub-segments and Region
Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
PESTLE Analysis
PORTER’s analysis
Value chain and supply chain analysis

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