Graphic Processing Unit Market
Growth Factors of Graphic Processing Unit Market
The graphic processing unit market size was valued at USD 48.38 billion in 2023, and the market is now projected to grow from USD 61.58 billion in 2024 to USD 461.02 billion by 2032, exhibiting a CAGR of 28.6% during the forecast period of 2023-2030.
The graphic processing unit market growth has witnessed several changes during the COVID-19 pandemic. Some of the electronic sectors that have gained market from the pandemic include the PC (Personal Computer) industry. Laptops and desktops became necessary devices for customers who are required to do their work for jobs and schools at home. The COVID-19 pandemic has increased the demand for PCs that has increased the demand for GPU.
The graphic processing unit market share globally has been contributed due to the implementation of GPUs across HPC. High performance computing refers to clusters of computers in cloud systems used for high-speed data analytics and processing. These cloud clusters generally work together and are synchronized with particular mechanisms, such as cloud file systems, containerized applications, or other software. These HPC clusters are generally used in specific industries where HPC is required for complex, ongoing applications, such as finance, healthcare, life science, supply chain management, genomic sequencing, and many others.
Virtual reality (VR) and augmented reality (AR) are advanced mechanisms for rising demand among consumers. Professional VR applications require powerful workplace hardware while the memory and CPU necessities for the HTC Vive are comparatively low. It is not in case for the Graphics Processing unit (GPU). VR requires over eight times more graphic processing power than is necessary to view the same work operation units on a single FHD monitor.
Comprehensive Analysis of Graphic Processing Unit Market
The graphic processing unit market and information & communication technology industry is rising at an exponential rate due to its market segmentation. This market expansion effectively provides a detailed regional assessment considering the dominant supply and demand forces that impact the hardware & software IT services industry. These segmentations are methodically segregated by types of type, application, and industry. By type includes dedicated or discrete, integrated, and hybrid. The application includes machine learning and artificial intelligence, scientific computing, 3D modeling and rendering, and cryptocurrency mining. However, the industry includes IT & telecommunication, electronics, media & entertainment, defense & intelligence, and others (automotive).
The North American region is conducive to the global graphic processing unit market, leading to a recall of USD 16.93 billion due to various opportunities across 3D modeling and rendering. The other mechanisms, such as machine learning and artificial intelligence, generative AI, and many others, amplify the demand for GPUs in the region.
The top players in the market play a crucial role in the hardware & software IT services industry assuring industrial prospectus growth and setting market standards. These market players include NVIDIA Corporation (U.S.), Advanced Micro Devices, Inc. (U.S.), Intel Corporation (U.S.), ASUSTeK Computer Inc. (Taiwan), GIGA-BYTE Technology Co. (Taiwan), PC Partner Group Limited (Hong Kong), EVGA (U.S.), SAPPHIRE Technology Limited. (Hong Kong), SAMSUNG (South Korea), and Imagination Technologies (U.K.) these market players provide a level-playing competitive landscape.
In March 2024, NVIDIA unveiled the Blackwell platform to empower a new era of computing with six innovative mechanisms for enhanced computing. These mechanisms support in unlocking breakthroughs in engineering simulation, data processing, electronic design automation, quantum computing, computer-aided drug design, and generative AI.
Segmentation Table
Global Graphic Processing Unit Market Scope
ATTRIBUTE DETAILS
Study Period 2019-2032
Base Year 2023
Estimated Year 2024
Forecast Period 2024-2032
Historical Period 2019-2022
Growth Rate CAGR of 28.6% from 2024 to 2032
Unit Value (USD Billion)
Segmentation By Type
- Dedicated or Discrete
- Integrated
- Hybrid
By Application
- Machine Learning and Artificial Intelligence
- Scientific Computing
- 3D Modeling and Rendering
- Video Editing and Rendering
- Cryptocurrency Mining
By Industry
- IT & Telecommunication
- Electronics
- Media & Entertainment
- Defense & Intelligence
- Others (Automotive)
By Region
- North America (By Type, Application, Industry, and Country)
- U.S.
- Canada
- Mexico
- Europe (By Type, Application, Industry, and Country)
- Germany
- U.K.
- France
- Italy
- Spain
- Russia
- Benelux
- Nordics
- Rest of Europe
- Asia Pacific (By Type, Application, Industry, and Country)
- China
- India
- Japan
- South Korea
- ASEAN
- Oceania
- Rest of Asia Pacific
- Middle East & Africa (By Type, Application, Industry, and Country)
- Turkey
- Israel
- GCC
- North Africa
- South Africa
- Rest of the Middle East & Africa
- South America (By Type, Application, Industry, and Country)
- Brazil
- Argentina
- Rest of South America
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