NEW YORK – The global artificial intelligence (AI) accelerator market is set for explosive growth, projected to rise from $11.53 billion in 2023 to $54.76 billion by 2030, according to a new report released Wednesday by Valuates Reports.
Driven by a compound annual growth rate (CAGR) of 22.6% through 2030, the market expansion is fueled by increasing demand for high-performance computing across data centers, autonomous vehicles, edge devices, healthcare, and more.
Valuates’ research highlights several core factors behind the surge: widespread application of AI accelerators, innovation from both tech giants and startups, growing R&D investment, and an expanding range of industry-specific AI solutions.
The report identifies a wide variety of AI accelerator types — including GPUs, TPUs, FPGAs, ASICs, and NPUs — being deployed to handle the growing complexity of AI models and workloads. These hardware platforms are now critical in everything from medical diagnostics and autonomous driving to smart surveillance systems and financial services.
Key market drivers include:
- Edge and cloud integration: FPGA-based accelerators are enabling real-time AI capabilities with low power use, ideal for edge devices and adaptable AI workloads.
- ASICs and TPUs: Purpose-built hardware is delivering energy-efficient performance for cloud-based AI services and training-intensive applications.
- Healthcare advancements: AI chips are now central to diagnostic imaging, genomics, and predictive analytics, improving accuracy and reducing manual error.
- Automotive AI: Real-time sensor data processing for advanced driver assistance systems (ADAS) and autonomous navigation is increasing demand for reliable, low-latency chips.
- Industrial adoption: AI accelerators are streamlining operations in manufacturing, agriculture, logistics, telecom, and government sectors.
North America currently leads the market, powered by a robust R&D ecosystem, strong semiconductor manufacturing base, and active government-industry collaboration. However, Asia-Pacific is quickly gaining ground, particularly in consumer electronics and automotive industries.
Valuates also tracks the rise of adjacent markets, such as copper foil for AI accelerators, which is forecast to grow from $138 million in 2023 to over $1 billion by 2030.
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Key Points
- AI accelerator market projected to reach $54.76 billion by 2030, growing at a 22.6% CAGR
- Growth driven by demand across automotive, healthcare, data centers, and smart devices
- North America leads, but Asia-Pacific shows rapid adoption in electronics and vehicles