AI Infrastructure Market Size, Share, Forecast (2022-2027)

Posted July 21, 2022 by ctom7000

China in APAC to account for the largest market share and highest growth rate during the forecast period

According to MarketsandMarkets Report, the global AI infrastructure market is projected to grow from USD 28.7 billion in 2022 to USD 96.6 billion by 2027, at a CAGR of 27.5% during the forecast period from 2022 to 2027.

The growth of this market is driven by factors such as increased data traffic and need for high computing power, increasing adoption of cloud-based machine learning platforms, increasingly large and complex dataset, increasing adoption of AI due to the COVID-19 pandemic, growing number of cross-industry partnerships and collaborations, and rising focus on parallel computing in AI data centers.

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Based on offering, the AI infrastructure market includes hardware, and server software. Hardware segment hold the largest market share and are expected to retain their position during the forecast period. The growth of this segment can be attributed to the rising demand for hardware devices with high computing power to run various AI algorithms/solutions.

Based on technology, the AI infrastructure market is segmented into machine learning (ML) and deep learning (DL). The deep learning segment holds the largest market share and is expected to retain its position during the forecast period. These technologies are currently being implemented to develop various AI products and offer different kinds of services. AI has created significant opportunities for enterprises and cloud service providers, thereby helping many startups to provide their solutions in the AI infrastructure market. The market for deep learning technology is expected to grow at a higher rate during the forecast period. The ability of deep learning to collect and handle big data and its applications in autonomous robots, autonomous vehicles, and facial analysis is fueling its demand.

The UK accounted for largest market share of the AI infrastructure market in Europe in 2021 and is expected to retain its position during the forecast period. Supercomputers play a vital role in digital transformation due to their ability to simulate the physical world and generate actionable insights from large volumes of data. Cloud service providers are trying to develop critical applications and workflows that support high-performance computing installations to further drive the adoption of supercomputers in the UK. Major companies such as ARRIA NLG (UK) and FinGenius (UK), providing AI technology in the finance sector in Europe, are developing AI-enabled products for solving complex financial queries in the BFSI sector.

In addition, several healthcare institutions in this region are using this technology to monitor, record, and display the medical status of their patients. This is accelerating the growth of the AI infrastructure market in the healthcare and financial sectors in Europe. Increasing applications of ML in the field of law to scroll through thousands of contracts to draw valuable precise information in a time-restricted environment is fueling the growth of the AI infrastructure market in the region.
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Issued By Tom
Country United Kingdom
Categories Advertising
Tags ai infrastructure market
Last Updated July 21, 2022