GPU as a Service (GPUaaS) Market size is anticipated to reach USD 65 billion by 2030, according to a new research report by Global Market Insights Inc.
Rising demand from cryptocurrency miners
Growing crypto mining across various regions will enhance the business expansion. The expanding real estate sector creates the need for 3D rendering & architectural design services. 3D animated designs of the infrastructure to attract investors and customers are one of the major factors boosting GPUaaS market growth. Furthermore, the increasing need for environmental modeling, molecular, and biotechnological analysis using data analysis & predictive analysis is also supporting the industry expansion.
The Russia-Ukraine war has adversely impacted the supply chain of GPU chipsets and the semiconductor industry. The semiconductor industry has come across three major scenarios: the shortage of raw materials including rhodium, cadmium, palladium & neon gas that has negatively affected the production of semiconductors, the exhaustion of inventories, and disrupted demands. The conflict has also resulted in the shortage of various critical hardware components, which is expected to negatively impact the GPuaaS market revenue.
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Increasing deployment of GPU-fueled medical imaging to fuel imaging software demand
The GPU accelerated imaging software segment is expected to grow at a CAGR of over 45% through 2030 impelled by rising demand for image processing algorithms across various industry verticals, especially in the healthcare sector. GPUaaS technology provides quality and performance for medical & diagnostic imaging systems that provide high image quality to support medical professionals in making timely & precise diagnostic tests.
Browse key industry insights spread across 360 pages with 401 market data tables and 48 figures & charts from the report, “GPU as a Service (GPUaaS) Market Size By Product (Software [Computer-aided Design (CAD)/Computer-aided Manufacturing (CAM), Simulation, Imaging, Digital Video, Modeling and Animation], Services [Managed Services, Updates & Maintenance, Compliance & Security]), By Application (Gaming, Design and Manufacturing, Automotive, Real Estate, Healthcare), By Service Model (SaaS, IaaS, PaaS), By Delivery Model (Public, Private, Hybrid), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2022 - 2030”, in detail along with the table of contents:
Minimal hardware CAPEX requirement will be driving the IaaS service model adoption
The IaaS service model held nearly 25% of the GPUaaS market share in 2021, which is propelled by several benefits offered by GPU-enabled IaaS models to enterprise customers for creating easily scalable and cost-effective IT solutions. These benefits include location independence, utility-style costing, no single point of failure, and no hardware CAPEX. It also offers detailed monitoring, load balancing, log access, security, and workload clustering, further propelling the market statistics.
Growing usage of the hybrid GPUaaS delivery model
The hybrid GPUaaS delivery model segment is set to register growth rate of around 40% through 2030. This model combines the on-premise GPU infrastructure (private cloud) with the public cloud, offering users the advantages of both the delivery models. Organizations including Intel, AMD, and NVIDIA, deliver GPU-enabled computational systems to scale data-intensive computation. Customers can choose to maintain some of the systems and data in-house while benefiting from external services through the hybrid cloud.
Rising affinity of the automotive sector toward autonomous mobility
The automotive application accounted for more than 20% of the revenue share in 2021. The increasing development in autonomous technology will increase the demand for GPUaaS in computer vision & pattern recognition, signal processing, infotainment graphics, and vehicle networking applications. This has positively influenced the market players to develop new GPU offerings for automotive applications.
Growing consumer electronics industry in Asia Pacific
The Asia Pacific GPUaaS market is poised to generate a revenue of above USD 30 billion by 2030. The regional growth is attributed to the presence of consumer electronic markets such as India and China. The increasing tech-savvy population and a shift toward a healthy & fit lifestyle among the population are creating more opportunities for the development of innovative consumer electronic products.
Focus on product developments and strategic partnerships by key players
Some of the key participants operating in the GPUaaS market are Advanced Micro Devices, Inc., Alibaba Cloud, Amazon Web Services, Inc. (AWS), Autodesk, Inc., Dassault Systems, Inc., dinCloud, FluidStack, Ltd., Google LLC, IBM Corporation, Intel Corporation, Lamba, Inc., Linode LLC, Microsoft Corporation, Nimbix Inc., NVIDIA Corporation, OVH Cloud, Paperspace, Penguin Computing Inc., Qualcomm Technologies, Inc., ScaleMatrix Holdings Inc., Siemens AG, and Vultr (The Constant Company LLC). Companies are focusing on collaborative development initiatives to address the market demand.
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