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GPU Market size to surpass $400 Bn by 2032

  • Published Date: February 28, 2023

Graphics Processing Unit Market size is projected to reach over USD 400 billion by 2032, according to a recent research report announced by Global Market Insights Inc.

The dynamic growth in the adoption of portable computing devices, such as laptops is expected to spur the GPU industry expansion. High internet penetration, increasing usage of smartphones and AI-enabled devices, and the growing need for high-end graphics and computing tools are accelerating the demand for GPUs. The emergence of technology-centric trends such as big-data analytics, virtual reality (VR), augmented reality (AR), and real-time analysis are also offering lucrative business prospects for a large number of graphics processing unit market players.

However, the high costs associated with standalone GPU chips may impede the product adoption. Manufacturing a standalone chip is a relatively more expensive process as it depends on high-end machinery. Despite the easy availability of affordable raw materials, manufacturers are required to invest heavily in the construction of testing and production facilities equipped with cutting-edge equipment, thus adding to the cost of the end product.

Rising integration of GPU components in autonomous vehicles to boost market growth

Graphics processing unit market size from the service component segment is anticipated to record over 30% CAGR between 2023-2032 driven by the surging demand across enterprises. The growing popularity of GPU services can be accredited to the high-efficacy requirements across businesses aiming to enhance organizational performance and customer experience. Moreover, the rising need for virtualization across a broad spectrum of business verticals including the automotive sector is promoting the benefits of using GPU as a Service for cost-efficiency and maximum GPU utilization. Furthermore, virtual GPUs are gaining significant traction among automobile manufacturers for boosting innovation in the field of autonomous vehicles.

Growing deployment of cloud GPUs for data storage requirements to propel market trends

Graphics processing unit market from cloud-based deployment models recorded more than 5% revenue share in 2022. Cloud computing has emerged as a novel technology taking over traditional data storage and management systems. Cloud-based decision intelligence offers a powerful engine for businesses, providing comprehensive data sets in the form of several APIs, filters, and applications for accurate actionable decision-making. Cloud deployment is rapidly replacing conventional models to deliver exceptional scalability for computing as well as storage. It also minimizes hardware-related waste, infrastructure needs, inefficiency in processing power, and direct management of resources.

Browse key industry insights spread across 230 pages with 243 market data tables and 34 figures & charts from the report “Graphics Processing Unit (GPU) Market Size By Component (Software [CAD/CAM, Simulation, Imaging, Digital Video, Modelling and Animation], Hardware [GPU Type {Integrated, Dedicated, Hybrid}, Device Type {Computer, Tablet/smartphone, Gaming Console, Television and others}], Service [Training & Consulting, Integration & Maintenance, Managed Service]), By Deployment Model (On-premise, Cloud), By Application (Gaming, Design & Manufacturing, Automotive, Real Estate, Healthcare), COVID-19 Impact Analysis, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2023 – 2032”., in detail along with the table of contents:

Booming real estate sector to accelerate GPU adoption

In terms of revenue, the graphics processing unit market share from real estate applications is estimated to reach over USD 45 billion by the end of 2032. GPU manufacturers are experiencing a substantial demand across the real estate sector due to the increasing use of the technology in designing 3D models. For instance, Doma, a real-estate tech company based in San Fransisco, U.S. deploys machine-learning models based on NVIDIA V100 Tensor Core GPUs to speed up the closing of home transactions without any errors and hurdles. The expanding real estate sector across developing countries is also projected to offer multiple prospects for the industry growth.

Tech collaborations in online gaming to favor expansion of GPU industry in North America

North America graphics processing unit market size crossed USD 10 billion in 2022 owing to the rapid penetration of decision intelligence across a spectrum of business verticals. The U.S. and Canada are rapidly adopting decision intelligence technologies across healthcare, retail, and BFSI, among other sectors to keep up with the current digitization and virtualization trends. Furthermore, the significant strides in online gaming and the presence of leading tech giants spearheading innovative ventures and collaborations will support industry expansion in North America.

New product development to boost GPU industry demand

Advanced Micro Devices, Inc., Intel Corporation, Nvidia Corporation, ASUS, Apple, Qualcomm Technologies, Inc., and Microsoft Corporation are some of the leading companies in the global graphics processing unit market. These participants are boosting innovation and product development efforts to introduce novel features and enhance customer retention.

Authors: Preeti Wadhwani, Aayush Jain