Graphics Processing Unit Market Growth Outlook Through 2024-2033

Overview and Scope
A graphics processing unit (GPU) is a specialized electronic circuit or chip that accelerates computational tasks, particularly in creating and rendering images, videos, and animations. GPUs are built for parallel processing, so they can do graphics-related computations very rapidly and in parallel, making them suited for rapid and effective rendering of pictures and graphics.

Sizing and Forecast
The graphics processing unit market size has grown exponentially in recent years. It will grow from $41.05 billion in 2023 to $54.57 billion in 2024 at a compound annual growth rate (CAGR) of 32.9%. The growth in the historic period can be attributed to data center expansion, rise of cloud gaming services, autonomous vehicles and adas, edge computing and iot growth, blockchain and cryptocurrency.

The graphics processing unit market size is expected to see exponential growth in the next few years. It will grow to $155.54 billion in 2028 at a compound annual growth rate (CAGR) of 29.9%. The growth in the forecast period can be attributed to gaming industry growth, multimedia content creation, advent of graphical user interfaces, advancements in display technologies, rise of cryptocurrency mining. Major trends in the forecast period include ai and machine learning integration, edge computing and iot, autonomous vehicles, quantum computing support, 5g network rollout.

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Segmentation & Regional Insights
The graphics processing unit market covered in this report is segmented –

1) By Component: Hardware, Software, Service
2) By Deployment Type: On-Premises, Cloud
3) By Industry Vertical: Electronics, Information Technology And Telecommunication, Defense And Intelligence, Media And Entertainment, Automotive, Other Industry Verticals

Asia-Pacific was the largest region in the graphics processing unit market in 2023. LAMEA is expected to be the fastest-growing region in the forecast period. The regions covered in the graphics processing unit market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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Major Driver Impacting Market Growth
The growing adoption of portable computing devices is expected to propel the growth of the graphics processing unit market in the coming years. Portable computing devices are small, lightweight, and mobile electronic devices designed for computing tasks on the go. Graphic Processing Units (GPUs) are used in portable computing devices to enhance their graphics performance and overall computing capabilities. For instance, in February 2023, according to Uswitch Limited, a UK-based price comparison and switching service company, there were 71.8 million mobile connections in the UK, a 3.8% (or around 2.6 million) increase over 2021. Moreover, 95% of the 68.3 million UK population, which is 65 million individuals, are expected to own a smartphone by 2025. Therefore, the growing adoption of portable computing devices will drive the graphics processing unit market.

Key Industry Players
Major companies operating in the graphics processing unit market report are Google LLC, Samsung Electronics Co.Ltd, Sony Corporation, Siemens AG, Intel Corporation, IBM Corporation, Qualcomm Incorporated, Broadcom Inc., Fujitsu Limited, Toshiba Corporation, NVIDIA Corporation, NEC Corporation, Advanced Micro Devices, Dassault Systèmes SE, Marvell Technology Inc., Realtek Semiconductor Corp., Arm Limited, Cirrus logic Inc, Verisilicon Inc, VIA Technologies Inc., ASPEED Technology Inc., Matrox Electronic Systems Ltd., Imagination Technologies Group, EVGA Corporation, Trident Microsystems Inc., 3DLabs Inc. Ltd., SAPPHIRE Technology Limited, 3dfx Interactive Inc., Rendition Inc., Oak Technology Inc.

The graphics processing unit market report table of contents includes:

1. Executive Summary
2. Graphics Processing Unit Market Characteristics
3. Graphics Processing Unit Market Trends And Strategies
4. Graphics Processing Unit Market – Macro Economic Scenario
5. Global Graphics Processing Unit Market Size and Growth
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32. Global Graphics Processing Unit Market Competitive Benchmarking
33. Global Graphics Processing Unit Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Graphics Processing Unit Market
35. Graphics Processing Unit Market Future Outlook and Potential Analysis
36. Appendix

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