Graphics Processing Unit Market worth $395.52 Billion by 2030 – Exclusive Report by The Insight Partners
The global graphics processing unit market is growing at a CAGR of 32.7% from 2022 to 2030
Pune, India, Oct. 27, 2023 (GLOBE NEWSWIRE) — The graphics processing unit (GPU) market growth can be attributed to the surging demand for high-quality visual experiences and advanced graphics in numerous end use industries such as entertainment, gaming, and data centers. The increasing popularity of augmented reality (AR) and virtual reality (VR) developments in machine learning and AI are also contributing to the GPU market growth. With the increase in demand for high-performance graphics processing units (GPUs), the market is expected to grow substantially during the forecast period, presenting numerous opportunities for graphics processing unit (GPU) market players.
Graphics Processing Unit Market in terms of revenue was estimated to be worth $41.23 billion in 2022 and is poised to reach $395.52 billion by 2030, growing at a CAGR of 32.7% from 2022 to 2030 according to a new report published by The Insight Partners.
The significant usage and demand in professional visualization, gaming, and machine learning applications are also expected to boost the GPU market growth.
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Global Graphics Processing Unit Market Scope:
|Market Size Value in||USD 41.23 Billion in 2022|
|Market Size Value by||USD 395.52 Billion by 2030|
|Growth rate||CAGR of 32.7% from 2021 to 2028|
|Segments covered||By Type, Application, and Geography|
|Regional scope||North America, Europe, Asia Pacific, Middle East & Africa, South & Central America.|
|Country scope||Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Saudi Arabia, South Africa, South Korea, Spain, United Arab Emirates, United Kingdom, United States|
|Report coverage||Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends|
Graphic Processors are a type of microprocessors that include a specific electronic circuit called a graphics processing unit (GPU). A GPU is designed to execute quick mathematical calculations, particularly for animations, image rendering, and others. Graphics processing units (GPUs) are generally used in computer systems for tasks such as scientific simulations, video game rendering, and machine learning. The parallel processing capabilities of the GPU allow complex computations at a quick pace as compared to a conventional Central Processing Unit (CPU). Thus, the demand for graphics processing units (GPUs) is expected to amplify during the forecast period from numerous end user industries.
At the beginning of the Personal Computers (PCs) evolution, there was no concept of the graphics processing unit (GPU), and all graphics calculation was done by a central processing unit (CPU). However, the speed of using the CPU to do graphics calculation was slow, so a specific graphics accelerator card was designed to support graphics calculation. Later, NVIDIA Corporation proposed the concept of the graphics processing unit (GPU), which promoted the graphics processing unit (GPU) to the position of a separate computing unit. Compared with the CPU, the benefit of the graphics processing unit (GPU) lies in multi-core; the number of cores is more than that of the CPU, each core has a moderately small cache, and the digital logic operation unit is simple and small, which is commonly used to process calculation data with compound calculation amount. Therefore, a graphics processing unit (GPU) is more appropriate for data-parallel computing than a CPU. Thus, in the past few decades, the demand for graphics processing units (GPUs) has increased dramatically from numerous end user industries.
The expansion of the gaming market to innovative platforms and devices such as cloud and mobile cloud gaming aids the augmented demand for GPUs in terms of graphics rendering and high performance. Similarly, the increasing demand for cross-platform gaming results in the significant adoption of GPUs in terms of high performance and compatibility on numerous operating systems and devices. Furthermore, the development of novel business models, such as game streaming and cloud gaming, is projected to create new growth opportunities for GPU market companies and will help them expand their geographic reach.
Growing Technological Advancement to Provide Lucrative Opportunities for the Graphics Processing Unit (GPU) Market
The GPU market growth can be attributed to constant advancements, developments and new product launches by firms such as AMD, Nvidia and Intel. Market players are focusing on offering GPUs with improved energy efficiency, increased performance, and high support for novel technologies such as real-time ray tracing and AI-based rendering. Key market participants are focusing on technological advancement to gain a competitive benefit in the GPU market. For instance, in March 2022, Imagination announced a partnership with King to enable developers in the mobile gaming industry to innovate through a combined research and development (R&D) program. Further, in January 2022, Samsung Electronics launched an advanced mobile processor called Exynos 2200. The product has an innovative design with a robust AMD RDNA 2 architecture and a Samsung Xclipse GPU.
Graphics Processing Unit (GPU) Market: Segmental Overview
Asia Pacific and North America are anticipated to aid the GPU market growth during the forecast period. As these regions have large presence of GPU manufacturing facilities, especially in China, India, and Japan, combined with increasing consumer demand in terms of gaming requirements. North America contributed to the significant GPU market share in 2022. The increasing expenditures on technological advancements are expected to support the GPU market growth in North America. Further, the increasing usage of the GPU, particularly for mining cryptocurrency, is also projected to support the GPU market growth due to such activities in this region.
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Graphics Processing Unit (GPU) Market Analysis: Competitive Landscape and Key Developments
Intel Corporation, Nvidia Corporation, Imagination Technologies Group, Samsung Electronics Co. Ltd, EVGA Corporation, SAPPHIRE Technology Limited, Qualcomm Technologies Inc., Asus, and AMD are a few of the key companies operating in the GPU market. The GPU market leaders focus on expansion and diversification, new product launches, and acquisition strategies, which allow them to access prevailing business opportunities in the GPU market.
- In April 2022, AMD and partners such as ASRock and Biostar introduced the latest Radeon RX 6400 GPU.
- In August 2022, Intel Introduced the Intel Data Center GPU Flex Series Arctic Sound-M for the Intelligent Visual Cloud. Delivering 5x media transcode throughput performance and up to 68 simultaneous cloud gaming streams, the Flex Series GPU is designed to meet the requirements for intelligent visual cloud workloads.
Go through further research published by The Insight Partners:
Heterogeneous Mobile Processing and Computing Market – Global Analysis and Forecast to 2030.
Media Processors Market – Global Analysis and Forecast to 2030.
Mobile Phone Application Processor Market – Global Analysis and Forecast to 2030.
The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.
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