Market Overview:
GPUs are widely used in workstations and servers for applications like artificial intelligence, machine learning, and data science modeling. They are also used in consumer electronics like smartphones, tablets, gaming consoles, and personal computers for graphics, AI, and better user experience.
Market Dynamics:
The growing adoption of artificial intelligence and machine learning applications across industries is a major driver for the GPU market. GPUs have tremendous parallel processing capabilities that aid accelerated deep learning training. They provide 30-100x faster training of deep neural networks compared to CPUs. Additionally, the rising demand for high performance computing from end-use industries like automotive, healthcare, banking, is also fueling market growth. Industries are using HPC solutions equipped with GPUs for applications such as computer aided engineering, genome sequencing, financial risk analysis, and urban planning.
Segment Analysis
Graphics Processing Units (GPUs) market is dominated by discrete graphics processing units segment. Discrete GPUs have dedicated memory which improves the graphical processing capabilities. They offer higher graphics rendering performance compared to integrated GPUs and are preferred for gaming, animation, content creation and machine learning workloads which require high-end graphics processing.
The global Graphic Processing Unit Market Size is estimated to be valued at US$ 41.46 Bn in 2023 and is expected to exhibit a CAGR of 12% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
PEST Analysis
Political: The government support for research and development of advanced GPU technologies will drive the market growth. Several nations are investing in AI and machine learning projects relying on specialized GPUs.
Economic: Increasing disposable incomes and growing affordability of computers and gaming consoles equipped with powerful GPUs is fueling the adoption rates. Rising interest in crypto mining has also boosted sales of high-performance graphics cards.
Social: Popularity of gaming, expansion of AI applications and emergence of virtual/augmented reality domains have increased the relevance of sophisticated graphics processors. Growing number of gamers and creators are majorly contributing to the social factors.
Technological: Integration of artificial intelligence and machine learning capabilities in GPU design is opening new application areas. Advent of real-time ray tracing technology and developing 5G network infrastructure will further spur technological innovations in this industry.
Key Takeaways
The global Graphic Processing Unit Market is expected to witness high growth, exhibiting 12% CAGR over the forecast period, due to increasing popularity of gaming and expansion of AI workloads. The market size for 2023 is estimated to be US$ 41.46 Bn.
Regional analysis: Asia Pacific region dominates the GPU market with largest share attributed to presence of key manufacturers in countries like China, Taiwan and South Korea. Countries like India, Japan and Southeast Asian nations are witnessing fastest growth in graphics card demand due to booming gaming and crypto mining industries.
Key players: Key players operating in the Graphic Processing Unit market are IBM Corporation, Intel Corporation, NVIDIA Corporation, Samsung Electronics Co., Ltd., Qualcomm Incorporated, Advanced Micro Devices, Inc., Dassault Systems, Inc., Google, Inc., Siemens AG, and Sony Corporation. NVIDIA Corporation has leading market share due to its expertise in designing specialized GPUs for gaming, AI and autonomous driving applications.
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Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
