Graphics Processing Unit (GPU) Market Size (2024 - 2029)

Graphics Processing Unit (GPU) Market Analysis

The Graphics Processing Unit Market size is estimated at USD 65.27 billion in 2024, and is expected to reach USD 274.21 billion by 2029, growing at a CAGR of 33.20% during the forecast period (2024-2029).

The graphics processing unit market is primarily driven by the growing demand for specialized processors to manage complex mathematical calculations related to 2D and 3D graphics. The augmenting use of processors to support graphics applications and 3D content in several industry verticals, including manufacturing, automotive, real estate, and healthcare, is also increasing the market’s growth.

•The demand for high-end personal computing devices and gaming consoles has surged in recent years, driving the studied market. Hence, investing in a graphics add-in board is helpful for micro-processing companies, as GPU forms a vital component of the finished product.

•Moreover, the high adoption of computing products, such as personal computers (PCs) or laptops, and the increasing investment in the gaming industry have been significant factors driving the studied market's growth in recent years. The growing demand for high graphics and computing applications and the expansion of technologies, like AI, along with the trend of real-time analysis, are mainly expanding the scope of GPU technology over the forecast period.

•In addition, GPUaaS may be utilized for various purposes, including training multilingual AI speech engines and identifying early indicators of diabetes-related blindness. Modern GPUaaS, which provides a compelling alternative to traditional general-purpose processors with variable pricing and no CAPEX, is one way to achieve the speed required for machine learning systems.

•However, the lack of a skilled workforce has been a significant challenge for companies adopting the technology. Several manufacturing companies cite a shortage of experienced engineers and developers; it becomes challenging to keep up with the complex and rapidly evolving technology and switch to automation, thereby increasing costs and restricting the market's growth.

•Owing to the ongoing US-China dispute, other countries, including India and some Southeast Asian countries, have started to witness a higher inflow of investments in the manufacturing and industrial sector as companies in China look to diversify their manufacturing base. Such trends, in turn, are expected to drive further opportunities in the market studied.

Graphics Processing Unit (GPU) Industry Segmentation

A graphics processing unit (GPU) is an electronic circuit designed to rapidly manipulate and alter memory to accelerate the creation of images in a frame buffer intended for output to a display device. GPUs are used in mobile devices, personal computers, workstations, edge data centers, automotive, and gaming consoles.

The graphics processing unit (GPU) market is segmented by type (discrete GPUs, integrated GPUs, and hybrid GPUs), applications (mobile devices, PCs and workstations, servers/data centers, automotive/self-driving vehicles, gaming consoles, and other applications) and geography (North America, Europe, Asia-Pacific, Australia and New Zealand, Latin America, and Middle East and Africa). The market sizes and forecasts are provided in terms of value (USD) for all the above segments.