Artificial and General Intelligence is fastest growing segment fueling the growth of Graphic Processing Unit Market

 
Graphic Processing Unit Market

Market Overview:
Graphic Processing Units or GPUs are specialized electronic circuits designed to rapidly manipulate and alter memory to accelerate the creation of images in a frame buffer intended for output to display. GPUs are very efficient at manipulating computer graphics and image processing and their highly parallel structure makes them more effective than general-purpose CPUs for algorithms where processing of large blocks of data is done in parallel.

Market key trends:
One of the key trends driving the growth of the graphic processing unit market is its increased usage in artificial and general intelligence applications. Powerful GPUs are increasingly being used to accelerate machine learning and AI workloads as they are highly parallel processors well-suited for the matrix and vector operations at the core of neural networks. As AI continues to evolve and machine learning models become more sophisticated, the demand for high-performance GPUs from AI and data scientists is expected to significantly increase over the forecast period.


Segment Analysis
The global graphic processing unit market is segmented into integrated graphics processing unit and discrete graphics processing unit. The discrete GPU segment dominated the global market in 2023 and is expected to continue its dominance over the forecast period. Discrete graphics cards are preferred for graphics-intensive applications like gaming, animation, engineering, and scientific applications, as they have dedicated memory and processing power.

The global Graphic Processing Unit Market Size is estimated to be valued at US$ 41.46 Bn in 2023 and is expected to exhibit a CAGR of 12% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Key Takeaways
The global graphic processing unit market is expected to witness high growth, exhibiting CAGR of 12% over the forecast period, due to increasing demand for GPUs from gaming, automotive, media and entertainment industries.

Regional analysis
North America dominated the global GPU market in 2023 and is expected to continue dominating during the forecast period. This is attributed to high adoption of GPUs for applications such as gaming, graphic designing, automotive, and defense and healthcare in countries like US and Canada. Asia Pacific is expected to witness the fastest growth over the forecast period due to rapid development of industries like gaming, automotive, and electronics in countries such as China, India, and Japan.

Key players
Key players operating in the graphic processing unit market are IBM Corporation, Intel Corporation, NVIDIA Corporation, Samsung Electronics Co., Ltd., Qualcomm Incorporated, Advanced Micro Devices, Inc., Dassault Systems, Inc., Google, Inc., Siemens AG, and Sony Corporation. NVIDIA Corporation dominated the market in 2023 owing to its wide range of GPU offerings for gaming, automotive, and data center applications.

For more insights, read-

 

https://www.marketwebjournal.com/graphic-processing-unit-market-trends-size-and-share-analysis/

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