PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1555521
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1555521
Graphics Processing Unit Market size was valued at USD 66,858.2 Million in 2023, expanding at a CAGR of 29.50% from 2024 to 2032.
The graphic processing unit is an electrical processor designed to display various types of graphics on the computer's screen. The processor is designed for frequent memory changes and processing in order to speed up image generation in the frame buffer for display on a mobile or TV screen. Graphic processing units are utilized by applications such as graphics and video rendering. Graphics processing units are widely employed in gaming platforms and other creative technologies. Continuous technological innovation in the digital age is driving up demand for graphics processing units.
Graphics Processing Unit Market- Market Dynamics
Virtual and Augmented Reality
The graphics processing unit plays a significant part in reshaping the digital world, from developments in the gaming sector to those in the entertainment business. It does so through technological innovation and revolution. Major key players are actively expanding GPU technology for virtual and augmented reality, which is increasing appeal among the entertainment sector, developers, and consumers. The increasing integration of a graphic processing unit with virtual and augmented reality in applications is driving the growth of the graphic processing unit (GPU) market.
Graphics Processing Unit Market- Key Insights
As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 29.50% over the forecast period (2024-2032)
Based on Device segmentation, Smartphones is the rapidly expanding segment.
Based on Type segmentation, Dedicated was the leading segmet in 2023
On the basis of region, North America was the leading revenue generator in 2023
The Global Graphics Processing Unit Market is segmented on the basis of Device, Type, Industry Vertical, and Region.
The market is divided into six categories based on Device: Tablet, Television, Computer, Gaming Console, Smartphone and Others. The smartphone segment in the worldwide graphics processing unit market is an important and quickly rising component. Smartphones are widely used around the world. Mobile gaming has grown into a big business, and GPUs are important for providing smooth and immersive gaming experiences on smartphones. High-performance GPUs can handle visually demanding games with advanced visuals and physics.
The market is divided into three categories based on Type: Integrated, Dedicated and Hybrid. Dedicated segment leads the market in 2023. The dedicated segment of the global graphics processing unit market will include GPUs built and utilized solely for certain activities or applications, as opposed to integrated GPUs that are part of a CPU or SoC. Dedicated GPUs are designed for high-performance graphics and computationally intensive applications. They have higher processing power and memory, making them excellent for jobs such as gaming, professional graphics work, 3D modeling, and scientific simulations.
Graphics Processing Unit Market- Geographical Insights
Geographically, this market is widespread into the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business. North America gained the lead in the global graphics processing unit market in 2023 and is expected to maintain this position throughout the forecast period. The presence of prominent international firms, including industry heavyweights such as Intel, IBM, and Google, among others, has contributed to the region's strength.
The Asia-Pacific region is predicted to play a significant role, accounting for nearly 42% of worldwide market growth during the forecast period of 2023. Analysts at Technavio have provided insights into the regional dynamics and key variables influencing the market's trajectory in the coming years. APAC has a significant presence in the global graphics processing unit market due to a number of factors.
NVIDIA, AMD, Intel, and Qualcomm are important participants in the Graphics Processing Unit (GPU) market, driving innovation and rivalry. NVIDIA is well-known for its high-performance GPUs used for gaming, artificial intelligence, and data processing applications. AMD competes with NVIDIA by providing Radeon GPUs for both gaming and professional applications. Intel, best known for its CPUs, has joined the GPU industry with the Intel Xe graphics architecture. Qualcomm focuses on mobile GPUs for smartphones and tablets, stressing both power economy and performance. These firms compete fiercely, always releasing new technologies and features to gain market share and suit the different needs of consumers in the gaming, professional graphics, and mobile computing industries.
In November 2023, MediaTek announced the release of the MediaTek Dimensity 9300 SoC. The launch is built with the most recent CPU system and features significant artificial graphics and display improvements.