CHICAGO, July 16, 2021 /PRNewswire/ -- According to the new market research report "AI Infrastructure Market with COVID-19 Impact Analysis by Offering (Hardware, Software), Technology (Machine Learning, Deep Learning), Function (Training, Inference), Deployment Type (On-Premises, Cloud), End User, and Region - Global Forecast to 2026", published by MarketsandMarkets™, the AI Infrastructure market is expected to grow from USD 23.7 billion in 2021 to USD 79.3 billion by 2026, at a CAGR of 27.3%. The market growth can be attributed to several factors, such as increased data traffic and need for high computing power, increasing adoption of cloud machine learning platform, increasingly large and complex dataset, rising focus on parallel computing in AI data centers, and growing number of cross-industry partnerships and collaborations.
Hardware to account for the largest share of AI infrastructure market in 2021
The hardware segment is sub-segmented into a processor, memory, storage, and networking (switches, routers, and other equipment used to link servers in the cloud and connect edge devices). NVIDIA (US), Intel (US), Micron (US), Xilinx (US), Google (US), Samsung (South Korea), and Graphcore (UK) are a few of the companies that develop hardware needed for AI. The increasing need for hardware platforms with high computing power to run various AI software is a key factor fueling the growth of the AI infrastructure market.
Machine learning technology held the largest share of AI infrastructure market in 2020
Machine learning enables systems to learn without being explicitly programmed. This technology can reliably and quickly scan, parse, and react to anomalies. Machine learning enables systems to automatically improve their performance with experiences. Recently, AI and machine learning have been widely adopted to tackle the COVID-19 crisis. Several organizations are using machine learning to scale up customer communications, understand the spread of COVID-19, and help accelerate research and treatment processes.
Asia Pacific to grow at the highest CAGR in AI infrastructure market
APAC is the host to a few of the fastest-growing and leading industrialized economies such as China, Japan, and India in the world. It is witnessing dynamic changes in the adoption of new technologies and advancements in organizations across industries. Increasing adoption of deep learning and NLP technologies for finance, agriculture, marketing, and law applications is also driving the market in this region.
Some of the key companies operating in the market are Intel Corporation (US), NVIDIA Corporation (US), IBM (US), Xilinx (US), Advanced Micro Devices (AMD) (US), Samsung Electronics (South Korea), Micron Technology (US), Google (US), Microsoft (US), Amazon Web Services (US) and so on.
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