Navigating the Growth Trajectory: Graphics Processing Unit Market Set to Exceed US$ 70.9 Billion in
The graphics processing unit market is estimated to be worth US$ 70.9 billion in 2024 and is projected to be valued at US$ 1,159.3 billion in 2034. Between 2024 and 2034, the industry is expected to register a growth rate of 32.2%.
The demand for more powerful GPUs surged as gaming enthusiasts sought enhanced graphical experiences, higher resolutions, and smoother frame rates, driving market demand during the forecast period. The rising demand for GPUs in data centers for high-performance computing, cloud services, and AI-related tasks further boosted market growth.
With the increasing digitalization in various industries and sectors, the need for efficient and powerful computing solutions, including GPUs, continues to rise. The rising new applications such as AR/VR, automotive computing, and edge computing rely on GPUs, broadening their use cases and increasing market demand.
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Data centers rely on GPUs for parallel processing tasks like AI inference, data analytics, and scientific simulations, contributing significantly to market growth. GPUs excel in parallel processing, making them pivotal for AI and machine learning tasks. As these technologies become integral across industries, the demand for GPUs grows.
The automotive industry increasingly integrates GPUs for infotainment systems, advanced driver-assistance systems (ADAS), and autonomous vehicle development, boosting demand for specialized GPUs tailored for these applications.
The growing regulatory compliance promoting energy efficiency and environmental sustainability might drive the development of more energy-efficient GPUs, influencing market demand.
From 2019 to 2023, the graphics processing unit market was valued at a CAGR of 29.7%
Based on type, the integrated GPUs segment is expected to account for a share of 35% in 2024.
Global graphics processing unit demand in China is predicted to account for a CAGR of 32.8% in 2024.
In the United States, the graphics processing unit industry is expected to account for a CAGR of 30.1% in 2024.
Germany is projected to expand by a value CAGR of 31.7% between 2024 and 2034.
Graphics processing unit market in Japan is anticipated to record a CAGR of 33.5% in 2024.
“The increasing growth of edge computing and IoT applications and strong gaming culture are anticipated to drive the market growth during the forecast period.” opines Sudip Saha, managing director at Future Market Insights (FMI) analyst.
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Companies within the market are actively investing in research and development aimed at crafting cutting-edge graphic processing units (GPUs). They focus on creating more robust, efficient, cost-effective solutions to meet evolving demands. Leading players in the graphics processing unit market are
Advanced Micro Devices Inc.
Imagination Technologies Group
Samsung Electronics Co. Ltd.
Arm Limted (soft Bank Group)
SAPPHIRE Technology Limited
Qualcomm Technologies Inc.
Some of the developments in the graphics processing unit market are
In November 2023, NVIDIA elevated its AI computing platform to unprecedented levels by unveiling the cutting-edge NVIDIA HGX H200. Harnessing the formidable power of the NVIDIA Hopper architecture, this innovation highlights the exceptional prowess of the NVIDIA H200 Tensor Core GPU. Tailored to efficiently process vast datasets, this GPU emerges as a vital resource for high-performance computing workloads, particularly those focused on generative AI assignments.
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Graphics Processing Unit Market Key Segments
South Asia and Pacific
Middle East and Africa
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Last Update : Feb 28, 2024 9:54 AM
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|Item Owner : Sudip Saha is the managing director and co-founder at Future Market Insights
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