Global GPU Market to amass USD 80 Bn by 2024

September 17, 2019

Worldwide GPU market is expected to surpass US $80 billion by the year 2024, according to the latest research available at Market Study Report LLC, report provides extensively data on market share, growth, trends and forecasts for the period 2018-2024.

GPUs (Graphic Processing Unit) are specialized microprocessors that are mainly designed for effective and quick image rendering. Modern GPUs offer superior processing power, efficiency, and memory bandwidth over their CPU counterparts. These units allow richer gaming experience for PC, where performance of steadfast graphics cards deliver a vibrant video output coupled with excellent performance in terms of interactive output/input.

Main factors propelling the GPU market growth include the growing adoption of GPUs in the healthcare segment, rapidly developing PC gaming landscape with the advent of interactive virtual reality games, and the rising popularity of graphic processing units for machine learning and neural network training applications.  

According to the report, healthcare industry is applying GPUs extensively in various applications such as MRI connectivity mapping, interactive model-based image registration, medical image reconstruction, and medical imaging. Technical advancements offering progressive visualization abilities coupled with the need to offer efficient care at low cost, will propel the GPU market growth.

The growing trend among the processor manufacturers to join forces with cloud service providers for providing GPU services to their consumers will augment the GPU Market outlook. Cloud-based GPU offers excellent computational power to consumers without the requirement for investing in dedicated hardware on their premises. Flexible pricing models and associated scalability provide low-cost substitutes to customers for leveraging the processing power of GPU to their compute-intensive applications.

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Based on the regional landscape, Asia Pacific GPU market held 34% revenue share in 2017 and is projected to maintain this dominance over the forecast period, owing to growing inclination towards adoption of PC games in countries including China, South Korea and Japan. The Japanese gaming market is the third largest in the world, pertaining to the continuous success of many mobile gaming companies in the country, claims the report.

The key players of GPU market are NVIDIA, Intel, IBM corporation, AMD, Oracle, and Microsoft Corporation among others.

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