TrendForce: AI Server Market Will Keep Growing Through 2025, with Related Industry Value Projected to Reach US$298 Billion

According to the latest research from TrendForce, the value of the entire server industry is estimated to total US$306 billion in 2024. Within this total, the industry value specifically related to AI servers is estimated to be around US$205 billion, showing stronger growth compared with the industry value related to standard servers. Looking ahead to 2025, the value of the AI server segment is expected to rise to US$298 billion due to persistently high demand and a higher ASP for this product category. Additionally, AI servers are forecasted to account for over 70% of the total value of the entire server industry in 2025.

Looking at shipments of AI servers, the primary growth driver has been the expanding demand for systems running on Hopper chips from customers, including server OEMs and CSPs based in the US and China. Consequently, AI server shipments increased by 46% YoY for 2024. As for 2025, TrendForce forecasts that AI server shipments will register a YoY growth rate of nearly 28%, and their portion within the overall server shipments will increase further to more than 15%.

Regarding the performances of major AI chip suppliers, chips belonging to the new Blackwell platform are expected to become NVIDIA’s main offerings for high-end GPUs by 2025. The GB Rack series, which requires more complex design verification, will need additional preparation time within the supply chain. Moreover, the first quarter of a year typically has fewer work days due to seasonal factors. Therefore, shipments related to the GB Rack series are not expected to climb noticeably until 2Q25. Additionally, the introduction of B300 and GB300 solutions around 3Q25 is likely to further boost shipments for Blackwell-based products, such as the HGX and GB Rack series.

Aside from NVIDIA, major CSPs have been increasingly investing in their in-house designed ASICs. In 2024, Google led in shipment volume for CSPs’ in-house AI chips. However, AWS is projected to post a higher YoY growth rate for shipments, reaching above 200%. As for 2025, AWS is forecasted to post a YoY growth rate of over 70% for shipments of in-house AI chips. Furthermore, AWS will focus even more on developing Trainium chips for AI applications associated with its public cloud infrastructure and e-commerce platforms.

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