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The Graphics Processing Unit (GPU) Market is set to exceed USD 400 billion by 2032 owing to the extensive applications of GPUs in portable electronic technologies, the rise in video gaming, and the adoption of high-memory GPUs in the healthcare sector.
Overview
As per a report published by Global Market Insights, Inc., Graphics Processing Unit (GPU) Market size is set to exceed USD 400 billion by 2032. This growth is driven by the extensive applications of GPUs in portable electronic technologies, the rise in video gaming, and the adoption of high-memory GPUs in the healthcare sector.
A surge in the demand for portable electronic devices will spur the graphics processing unit (GPU) market expansion. Smart home appliances and consumer electronics have witnessed a substantial rise in sales over the past few years, due to the mounting global population and rapid urbanization.
This, in turn, is compelling industry players to design advanced GPU offerings. For instance, in March 2023, NVIDIA revealed six new NVIDIA RTX™ Ada Lovelace architecture GPUs suitable for desktop and laptop devices, allowing data scientists, creators, and engineers to tap into the evolving space of AI, and the metaverse.
Some of the fields available in report -
| Required Fields | Format |
|---|---|
| Market Size in 2022 | USD 40 billion |
| Value Projection by 2032 | USD 400 billion |
| **Compound Annual Growth Rate (CAGR) ** | 25% |
| ** Gaming applications in 2032** | USD 145 Billion |
| On-premises deployment mode segment in 2032 | 25% CAGR |
| Asia Pacific Market in 2032 | USD 180 billion |
| No. Of Tables | 243 |
| Figures & Charts | 36 |
| No. Of Report Pages | 230 |
| Countries covered in the report | U.S., Canada, UK, France, Italy, Germany, Spain, China, India, Japan, South Korea, Australia, Mexico, Brazil, UAE, South Africa. |
| Segments covered | Component, Deployment Mode, Application |
| Companies covered in the report | Advanced Micro Devices, Inc., Autodesk, Amazon Web Services, Inc., Cogeco Communications, Inc., Dassault Systems, Inc., Google, Inc., IBM Corporation, Intel Corporation, Microsoft Corporation, Nimbix, Inc., Nvidia Corporation, Penguin Computing, Inc., PTC, Qualcomm Technologies, Inc., ScaleMatrix Holdings, Inc., S3 Graphics (HTC Corp.) |
Enlisted below are the key global factors catalyzing GPU industry growth from 2023-2032:
1. Rapid developments in global real estate sector
GPU technology and machine learning models are helping real estate tech companies speed up home purchasing processes. The expanding real estate sector harbors lucrative business prospects for the adoption of GPUs. According to projections from Global Market Insights Inc., graphics processing unit (GPU) market value from real estate applications is estimated to surpass USD 45 billion by the end of 2032.
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As per the Indian Real Estate Industry report by the India Brand Equity Foundation (IBEF), the real estate sector in the country is projected to increase from USD 200 billion in 2021 to USD 1 trillion in 2030. The sector will contribute to 13% of India’s GDP by 2025 given significant developments in hospitality, commercial, and retail real estate, and in consequence, augment the demand for GPUs.
2. Advancements in gaming graphic cards
The lockdown directives put into effect due to the novel coronavirus pandemic drifted millions of people worldwide toward gaming for in-house entertainment. Lack of socialization has been recognized as a key factor driving the sales of video games and consoles during and after the pandemic, hence spurring the demand for technologies such as graphic cards.
GPU manufacturers are responding to this growing demand in earnest, through the introduction of advanced graphic card solutions. In November 2022, AMD introduced the world’s first advanced gaming graphic card designed with groundbreaking AMD RDNA 3 architecture featuring chiplet processors. The introduction of high-performance and energy-efficient products such as AMD Radeon™ RX 7900 XTX and Radeon RX 7900 XT graphics cards, designed to effectively power high-framerate 4K and high-resolution gaming, is expected to add significant impetus to GPU industry expansion over the foreseeable future.
**3. Paradigm shift towards cloud-based Graphics Units **
Cloud graphics units are transforming the overall graphics processing unit (GPU) market, by providing users access to graphics solutions with advanced capabilities to handle deep learning and AI workloads in the cloud and eliminating the need for the deployment of a physical GPU on the device.
GPUs also help advance training models in the cloud by accelerating the process for an array of deep learning models such as natural language processing, image classification, and video analysis. In March 2023, NVIDIA entered a collaboration with Google Cloud to enable the integration of its L4 GPU, and Vertex AI to help companies create a large number of generative AI applications. Such initiatives by prominent suppliers of graphics processing units worldwide are anticipated to have a significant impact on industry trends over the forecast period.
**4. Emergence of digitization & virtualization trends in the U.S. **
North America graphics processing unit (GPU) market size was valued at more than USD 10 billion in 2022 due to the rising adoption of decision intelligence technologies across a broad spectrum of business verticals including retail, BFSI, and healthcare.
Regions such as the U.S. and Canada are experiencing a tremendous upsurge in digitization and virtualization trends in recent years. Additionally, the presence of a massive and every-growing gaming community is creating lucrative demand for GPUs in the region.
The competitive landscape of the global graphics processing unit (GPU) market includes entities such as Intel Corporation, Advanced Micro Devices, Inc., Nvidia Corporation, Apple, Qualcomm Technologies, Inc., ASUS, and Microsoft Corporation. Over the years ahead, the GPU industry is set to evolve at a dynamic rate on account of widespread industrial applications, and the mounting use of GPUs in cloud-based analytics. Additionally, rapid technological developments and the introduction of novel graphic cards for gaming applications represent massive scope for business growth during the forecast timeline.
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About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
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