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Thursday, 18 April 2024
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Graphics Processing Unit (GPU) Market is expected to reach US$ 395.52 billion by 2030

The Graphics Processing Unit market size is projected to grow at a CAGR of 32.7% during 2022-2030, to surpass USD 395.52 billion by 2030, from USD 41.23 billion in 2022.

By The Insight Partners

The Graphics Processing Unit (GPU) market size is expected to grow from US$ 41.23 billion in 2022 to US$ 395.52 billion by 2030; it is estimated to grow at a CAGR of 32.7% from 2022 to 2030. The graphics processing unit (GPU) is one of the most essential types of computing technology for both consumer and business use. The GPU, which is designed for parallel processing, is utilized in a variety of applications, including graphics and video rendering. Although they are best known for their gaming capabilities, GPUs are increasingly being used in creative production and artificial intelligence (AI). Therefore, supplementing the growth of graphics processing unit (GPU) market.

In recent years, there has been a boom in demand for high-end personal computing devices and gaming console effects. As GPU is an essential component of the finished product, investing in a graphics add-in board is beneficial for micro-processing companies. The global use of computing devices such as laptops or personal computers (PCs), as well as increased investment in the gaming industry, have always been important drivers for the expansion of the graphics processing unit (GPU) market. During the forecast period, the rising need for high-end graphics and computing applications, the advancement of technologies such as AI, and the trend of real-time analysis will mainly increase the scope of graphics processing unit (GPU) market during the forecast period.

Graphics Processing Unit (GPU) Market Revenue and Forecast to 2030 (US$ Million)

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GPUs are required for high-end graphics. High-end laptop computers are utilized for gaming, video editing, and 3D design. High-end laptop computers require a strong GPU to generate complex graphics and provide a smooth user experience. Thus, laptop manufacturers increasingly sell laptops with high-end GPUs as they understand that many users can spend a significant amount on a laptop with a powerful GPU. Therefore, supplementing the graphics processing unit (GPU) market growth.

Companies such as NVIDIA, Intel, and AMD stated that they want to stay firm and stable in the competitive graphics processing unit (GPU) market. Therefore, these companies invest heavily in innovative GPU systems for personal computing devices and laptops. In December 2022, NVIDIA, AMD, and Intel announced their latest GPUs. Intel and AMD also introduced their latest CPUs for desktops, offering a complete solution for those who plan to build a custom RIG for personal usage, gaming, and professional workload. Additionally, in April 2021, NVIDIA announced the availability of eight new NVIDIA Ampere architecture GPUs for next-generation desktops, laptops, and servers, which enables professionals to work from anywhere without sacrificing quality or time. Using new NVIDIA RTX GPUs, artists can create innovative 3D scenarios, designers can iterate on stunning architectural designs in real-time, and engineers can produce innovative products on any system. Thus, rising demand for high-end personal computing devices, such as laptops, with high-end GPUs from gamers and other demanding users drives the graphics processing unit (GPU) market growth.

Intel Corp, NVIDIA Corp, Apple Inc., Qualcomm Inc., Samsung Electronics Co Ltd, SAPPHIRE Technology Ltd, Advanced Micro Devices Inc., Imagination Technologies Ltd, EVGA Corp, and Yura Corporation are the key graphics processing unit (GPU) market players profiled in this research study. These players adopt organic growth strategies, such as product launches and expansions, to sustain their position in the graphics processing unit (GPU) market.

Graphics processing unit (GPU) market is growing with increasing use in a wide range of gaming applications, including machine learning (ML), artificial intelligence (AI), and data science. AI and ML algorithms are increasingly being used in a variety of applications, such as natural language processing, image recognition, and data mining. These algorithms require potent GPUs to train and run. Also, these applications are becoming increasingly popular in a variety of industries, such as finance, healthcare, and manufacturing. Therefore, increasing applications in different industries driving the growth of graphics processing unit (GPU) market.

Several companies, such as NVIDIA and AMD in the graphics processing unit (GPU) market, introduce new and innovative AI technologies. Nvidia's latest earnings beat indicates a new phenomenon in the graphics processing unit (GPU) market. The technology is now at the heart of the artificial intelligence (AI) boom. Nvidia is finally reaping the benefits of its early AI investment as the engine powers large language models (LLMs) such as ChatGPT. This has helped to mitigate the impact of broader semiconductor industry challenges related to US-China trade tensions and chip shortages across the world. Therefore, supplementing the growth of graphics processing unit (GPU) market.

In August 2023, NVIDIA announced a new configuration for its advanced AI chips, which is intended to accelerate generative AI applications. According to Nvidia, the latest version of the Grace Hopper Superchip enhances the quantity of high-bandwidth memory, allowing the architecture to power larger AI models. The design is optimized for AI inference functions, which effectively power generative AI applications, including ChatGPT. In June 2023, AMD announced its most advanced GPU for AI, the MI300X. The company plans to start shipping it to some customers later this year. Therefore, owing to the above parameters, the deployment of emerging applications such as AI and ML is expected to offer lucrative opportunities for the graphics processing unit (GPU) market in the coming years.

The graphics processing unit (GPU) market in North America is witnessing significant growth as the graphics processing unit (GPU) market is mature and well-established. One of the biggest GPU manufacturers, such as Nvidia, is headquartered in North America. The North America graphics processing unit (GPU) market is driven by high demand from the gaming and data center sectors and AI solutions. For instance, in April 2023, Nvidia's top partners in the Americas are driving sales and services for AI solutions based on the vendor's hardware and software portfolio across a variety of verticals, including retail, education, government, healthcare, and manufacturing. The winners of its 2023 Nvidia Partner Network Americas Partner of the Year awards were announced. Among the winners are some of North America's major solution providers, including CDW, Worldwide Technology, and Insight Enterprises, which are all on CRN's 2022 Solution Provider 500 list. Arrow Electronics, consulting powerhouse Deloitte, and up-and-coming solution providers such as Lambda and Quantiphi were also among the winners. The accelerated computing practices of these winning partners reflect Nvidia's focus on a "full-stack platform" that comprises high-performance networking components, purpose-built GPU systems, and a growing portfolio of free and commercial software for enhanced computing. Therefore, supplementing the growth of graphics processing unit (GPU) market.

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