Graphic Processing Unit (GPU) Market Size Expected to Reach USD 1,414.39 Bn by 2034
The global graphic processing unit (GPU) market size is calculated at USD 75.77 billion in 2024 and is expected to reach around USD 1,414.39 billion by 2034, registering a solid CAGR of 13.8% between 2024 and 2034.
Ottawa, Sept. 03, 2024 (GLOBE NEWSWIRE) — The global graphic processing unit (GPU) market size is predicted to increase from USD 56.55 billion in 2023 to approximately USD 1,414.39 billion by 2034, According to Precedence Research. The GPU market is driven by rising technological advancements and the increasing usage of gaming laptops and wearable devices.
Graphic Processing Unit (GPU) is a special electronic circuit that accelerates the processing of images and videos within a computer system. Diverse applications of graphic processing unit (GPU)s include Artificial Intelligence (AI), deep learning, gaming, medical imaging, scientific computing, and cryptocurrency mining. graphic processing unit (GPU) provides simulation, optimization, and realistic graphics, accelerates matric operations, and enables large-scale data processing and scalable computing.
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Programmable processors and graphic processing technology developments boosted the growth of graphic processing unit (GPU) market. Some key areas where graphic processing unit (GPU)s are used include data science, machine learning, cryptocurrency mining, computational biology, financial modeling, autonomous vehicles, and robotics.
The annual report of global GRAPHIC PROCESSING UNIT (GPU) giant Nvidia
Graphic Processing Unit (GPU) Market Highlights:
- Asia Pacific dominated the graphic processing unit market with the largest market share of 32% in 2023.
- North America is expected to grow at a significant rate during the forecast period.
- By device, the smartphone segment led the market in 2023.
- By type, the integrated segment captured the highest market share in 2023.
- By type, the hybrid segment is expected to witness the highest growth during the forecast period.
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Regional Outlook of Graphic Processing Unit (GPU) Market:
The Asia Pacific graphic processing unit (GPU) market size is worth around USD 24.25 billion in 2024 and is predicted to cross around USD 452.60 billion by 2034, with a CAGR of 34.2% from 2024 to 2034.
Asia Pacific contributed the biggest market share in 2023.
The rising demand for high-end personal computing devices and the increasing adoption of augmented reality (AR and virtual reality (VR) technologies contributed to the market growth. These technologies are becoming popular in various sectors, such as gaming, healthcare, entertainment, and education. Complex 3D graphics and real-time effects require powerful graphic processing unit (GPU)s to deliver immersive and realistic experiences. Moreover, India has been at the forefront of adopting cloud services, which boosts the market.
- In August 2024, Singtel and Hitachi signed an agreement to jointly develop next-generation data centers and graphic processing unit (GPU) Cloud in Japan.
The market in North America is projected to grow rapidly in the near future. North America is a technology hub and holds a significant share in the market due to development in 3D modelling, AI, and generative AI. The presence of a large number of market players, such as Nvidia, AMD and Intel, boost the market. On the other hand, the graphic processing unit (GPU) market in Europe is expected to expand significantly due to the rising demand for Graphic Processing Unit (GPU)s for cryptocurrency mining and rising advancements in (GPU) technology.
- In June 2024, CoreWeave, a supplier of graphic processing unit (GPU) cloud services, announced plan to invest US$ 2.2 billion to open data centers on the continent of Europe by the end of 2025.
Graphic Processing Unit (GPU) Market Report Scope:
| Report Attribute | Key Statistics |
| GPU Market Size in 2024 | USD 75.77 Billion |
| GPU Market Size by 2034 | USD 1,414.39 Billion |
| GPU Market Growth Rate from 2024 to 2034 | CAGR of 13.8% |
| Largest Market | Asia Pacific |
| Fastest Growing Market | North America |
| Base Year | 2023 |
| Forecast Period | 2024 to 2034 |
| Segments Covered | Device, Type, Industry Vertical, Region |
| By Device | Tablet, Television, Computer, Gaming Console, Smartphone, and Others |
| By Type | Integrated, Dedicated, and Hybrid |
| By Industry Vertical | IT & Telecommunication, Electronics, Media & Entertainment, Defense & Intelligence, and Others |
| Regions Covered | North America, Asia Pacific, Europe, Latin America, Middle East and Africa |
| Countries Covered | U.S., Canada, UK, Germany, France, Italy, Spain, Norway, Sweden, Denmark, Japan, China, India, Australia, South Korea, Thailand, Brazil, Mexico, Argentina, South Africa, Saudi Arabia, UAE, Kuwait |
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Graphic Processing Unit (GPU) Market Segments Outlook:
Device Outlook
The smartphone segment dominated the graphic processing unit (GPU) market in 2023 due to the rapid increase in mobile gaming. A graphics card or (GPU) is the pivotal hardware component that enhances game performance. This card enables smartphones to run graphically intensive games and open a wide horizon toward different types of games. The rising demand for mobile games and the expanding gaming industry, further contributed to the segmental growth.
- According to a report published by the Interactive Entertainment and Innovation Council and online gaming firm Winzo, the annual revenue of the Indian gaming industry is estimated to reach USD 6 billion by 2028 from USD 3.1 billion in 2023.
Type Outlook
The integrated segment led the market in 2023. Integrated graphics GPU are directly integrated into the CPU of a computer. GPUs are essential for performing basic tasks like web browsing, casual gaming, and basic graphic design. Modern integrated GPUs, like Intel Iris Xe Graphics, allow users to perform a wide range of tasks, such as video streaming, photo editing, and graphic-intensive gaming.
- In January 2024, At CES 2024, AMD presented the Ryzen 8000G Series desktop with integrated GPUs and NPUs.
The hybrid segment is anticipated to witness significant growth during the forecast period. Hybrid graphics combine the efficiency of integrated and powerful graphics for seamless, immersive performance in graphics-intensive applications without compromising power consumption.
Such versatile solutions find applications in gaming and professional domains, switching between integrated and dedicated graphics based on workload requirements to assure optimal performance and energy efficiency. Hybrid graphic processing unit (GPU)s are ideal for gamers, content creators, and professionals who want high-quality graphics without losing power efficiency.
Browse More Insights:
- Data Center GPU Market (By Deployment Model: On-premises, Cloud; By Function: Training, Inference; By End-user: Cloud Service Providers, Enterprises, Government ) – Global Industry Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2024-2033
- Data Center Market (By Component: Solution, Services; By Type: Colocation, Hyperscale, Edge, Others; By Enterprise Size: Large Enterprises, Small & Medium Enterprises (SMEs); By End User: BFSI, IT & Telecom, Government, Energy & Utilities, Others) – Global Industry Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2024-2034
- Hyperscale Data Center Market (By Component: Solution, Service; By End-User: Cloud providers, Colocation providers, Enterprises; By Enterprise Size: SMEs, Large; By Infrastructure: Electrical Infrastructure, Mechanical Infrastructure, Cooling System, Cooling Technique, General Construction; By Industry: BFSI, IT and Telecom, Government, Energy and Utilities, Retail, Manufacturing, Healthcare, Others) – Global Industry Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2023-2032
- Radar Market (By Component: Antenna, Transmitter, Receiver, Others; By Service: Installation/Integration, Support & Maintenance, Training & Consulting; By Platform: Ground-based, Naval, Airborne, Space-based; By Frequency Band: L-band, S-band, C-band, X-band, Ku-band, Ka-band, Others; By Range: Long, Medium, Short; By End-use: Military Applications, Air Traffic Control, Remote Sensing, Ground Traffic Control) – Global Industry Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2024-2033
- Modular Data Center Market (By Component: Solution, Services; By Organization Size: Large Enterprises, Small & Medium Enterprises; By Industry Verticals: BFSI, IT & Telecom, Retail, Manufacturing, Healthcare, Energy, Media & Entertainment, Government, Others) – Global Industry Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2023-2032
- Cloud Data Center Market (By Service: Infrastructure-as-a-service model, Platform-as-a-service model, Software-as-a-service model; By Deployment: Public, Private, Hybrid; By Organization Size: Small/Medium Enterprises, Large Enterprises; By End-User: BFSI, Colocation, Energy, Government, Healthcare, Manufacturing, IT & Telecom, Others) – Global Industry Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2024-2033
- Green Data Center Market (By Component: Solution, Services; By Enterprise Size: Large Enterprises, Small & Medium Enterprises (SMEs); By End-use: BFSI, Retail, IT & Telecom, Healthcare, Manufacturing, Government & Defense, Others) – Global Industry Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2024-2033
Graphic Processing Unit (GPU) Market Dynamics
Driver:
Development of advanced graphic processing unit (GPU) systems
With improvements in chip manufacturing, graphic processing unit (GPU)’s number-crunching capabilities are being boosted at increased cores and operating speeds. Datacenter (GPU)s designed to accelerate machine learning tasks have become increasingly popular. Firms like AMD and NVIDIA have improved their (GPU)s to accommodate machine learning tasks better. These (GPU)s often provide more memory than ordinary (GPU)s and are essential for training large AI models.
- In November 2023, NVIDIA introduced its latest (GPU) innovations, including the Hopper-Based H200 Series, Next-Gen RTX 5000 Series, and X100 AI Accelerators.
Restraint:
Challenges in Supply chain management
The fluctuating demand for (GPU)s makes it difficult for chipmakers to plan their production, leading to difficulties in forecasting demand. This leads to shortages and huge disruptions in the supply chain that drive up prices or saturations, leading to loss of revenues. Moreover, high costs associated with manufacturing AI (GPU) chips with semiconductors requiring substantial resources limits the competition.
Opportunity:
Emerging Technologies shaping the Graphic Processing Unit (GPU) market
Future graphic processing unit (GPU)s are expected to provide better and higher performance. Manufacturers are focusing on developing graphic processing unit (GPU)s for artificial intelligence (AI) and machine learning (ML) tasks by incorporating advanced features to improve scalability and enhance power efficiency. Innovations in memory technology are on the way to ease the difficulty of data transfer rates and memory access in artificial intelligence workloads. By incorporating quantum processors, future (GPU)s may have the potential tackle problems that are currently infeasible for classical computing.
- In June 2024, IBM and Pasqal collaborated to establish a common roadmap for quantum-centric supercomputing to effectively merge quantum computing with next-step-classic computing for the next generation of supercomputers.
Graphic Processing Unit GPU Market Top Companies
- Intel Corporation
- IBM Corporation
- Samsung Electronics Co., Ltd.
- NVIDIA Corporation
- Siemens AG
- Advanced Micro Devices, Inc.
- Qualcomm Incorporated
- Google, Inc
- Dassault Systems, Inc.
- Sony Corporation
Recent News of GPU Market:
- In August 2024, Vultr teamed up with SQream Technologies to deliver high-performance cloud computing and data processing powered by GPUs.
- In August 2024, CoreWeave announced that it become the first cloud provider to introduce NVIDIA H200 Tensor Core GPUs to the market.
- In August 2024, SpaceX’s Transporter 11 mission is set to launch an Nvidia Jetson Orin NX chip, a popular AI and edge computing GPU, into space.
The research report categorizes the Graphic Processing Unit (GPU) market into the following segments and subsegments:
By Device
- Tablet
- Television
- Computer
- Gaming Console
- Smartphone
- Others
By Type
- Integrated
- Dedicated
- Hybrid
By Industry Vertical
- IT & Telecommunication
- Electronics
- Media & Entertainment
- Defense & Intelligence
- Others
By Region
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Sweden
- Denmark
- Norway
- Asia Pacific
- China
- Japan
- India
- South Korea
- Thailand
- Latin America
- Brazil
- Mexico
- Argentina
- Middle East and Africa (MEA)
- South Africa
- UAE
- Saudi Arabia
- Kuwait
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