Worldwide Data Center Accelerator Industry to 2027 - Cloud-Based Services are in Huge Demand Driving Growth
DUBLIN, Oct. 13, 2021 /PRNewswire/ -- The "Global Data Center Accelerator Market By Type, By Processor Type, By Application, By Regional Outlook, COVID-19 Impact Analysis Report and Forecast, 2021 - 2027" report has been added to ResearchAndMarkets.com's offering.
The Global Data Center Accelerator Market size is expected to reach $75.2 billion by 2027, rising at a market growth of 34% CAGR during the forecast period. A software program or hardware device, which improves the entire computer performance by processing visual data, is known as a data center accelerator. Additionally, data center accelerators enable companies to boost the consumer-centric data demand and improve the usage of artificial intelligence (AI)-based services to surge the demand for AI-driven data centers, which is expected to enhance the performance of data centers.
Modern data centers are among the important scientific discoveries, which help in solving numerous vital challenges. These advanced data centers are helping in boosting the networking bandwidth and making the best use of the workloads such as artificial intelligence. In addition, data center administrators also can get the benefits like lower power, less overall cost of ownership, and the latest services.
The growing penetration of smartphones along with the high adoption of improved and latest technologies like IoT, AI, and big data is anticipated to augment the demand for data center accelerators in the IT and telecom industry. Several telecom service providers are highly deploying GPU machine learning algorithms in data center servers to accelerate the model training times, forecast the future, and identify abnormalities.
The increasing number of social media platforms and streamline video content trends in the telecom sector are leading to the higher data traffic, which is encouraging organizations to implement accelerated analytics and visualization platforms to reduce the loss of data and facilitate business continuity & security. Many enterprises like CenturyLink, and Telecom Italia, are improving their presence in various regions, which is expected to propel the growth of the data center accelerator market.
COVID-19 Impact Analysis
The global outbreak of the COVID-19 pandemic has impacted almost all sectors of business. As things will start getting normalized, the manufacturing sector is estimated to accelerate smart manufacturing processes by utilizing IoT, AI, and blockchain technologies. Through the implementation of these technologies, enterprises can reduce costs, fuel process efficiency, and significantly decrease human contact. At present, AI is majorly utilized for predictive maintenance and is expected to be deployed to predict demand and revenues in the supply chain.
Due to the pandemic, educational industries have witnessed a positive impact as ed-tech organizations have increasingly adopted AI technology to carry out education during the lockdown. Ed-tech companies have implemented AI tools to improve online learning & virtual classroom experience for students. This high usage of artificial intelligence in numerous industries is fueling the demand for data center accelerators in the market.
Market Growth Factors:
Cloud-based services are in huge demand
Designers, gamers, creative professionals, and video enthusiasts need deep learning accelerators with parallel processing offerings, which could facilitate the provisioning of on-demand machine learning for virtual reality, augmented reality, and numerous other application areas. These technologies are creating more demand for data centers and thus, fueling the demand for data center accelerators in the market.
FPGA-based accelerators are witnessing an upsurge in demand
FPGA refers to an integrated circuit, that can be configured by a customer or designer after it is manufactured. In addition, FPGAs are encoded with the help of utilizing hardware description languages like VHSIC hardware description language (VHDL) or Verilog. These FPGAs provide benefits like a short time to market, fast prototyping, reprogrammable in the area for debugging, and a long product life cycle.
Market Restraining Factor:
Absence of expertise in the market
The low availability of AI hardware experts is one of the factors restraining the growth of the data center accelerator market. Thecomplexity of AI makes it difficult for the company's personnel for managing, developing and deploying AI systems as they require specific skills to operate. Furthermore, the integration of AI solutions with current systems is one of the hard tasks, which need well-funded in-house R&D and patent filling.
Cardinal Matrix - Data Center Accelerator Market Competition Analysis
The major strategies followed by the market participants are Product Launches. Based on the Analysis presented in the Cardinal matrix; Google, Inc. is the major forerunners in the Data Center Accelerator Market. Companies such as NEC Corporation, IBM Corporation, and Micron Technology, Inc. are some of the key innovators in the market.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Intel Corporation, NEC Corporation, Google, Inc., IBM Corporation, Micron Technology, Inc., Advanced Micro Devices, Inc., Marvell Technology Group Ltd., NVIDIA Corporation, Xilinx, Inc. and Qualcomm, Inc.
Recent Strategies Deployed in Data Center Accelerator MarketPartnerships, Collaborations, and Agreements:
Acquisitions and Mergers:
Key Topics Covered:
Chapter 8. Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/yjta0k
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