Graphics Processing Unit (GPU) Market Opportunity, Growth Drivers, Industry Trend Analysis, and Forecast 2024 to 2032

Description

The Global Graphics Processing Unit (GPU) Market was valued at USD 52.1 billion in 2023. Projections indicate a CAGR of 27% from 2024 to 2032. This surge is largely attributed to the widespread adoption of AI and ML across diverse sectors. Tasks like neural network training, image recognition, natural language processing (NLP), and predictive analytics, which are central to AI and ML workloads, demand substantial computational power. Given their prowess in parallel processing, GPUs are ideally suited for these AI-centric tasks. The gaming sector continually seeks enhanced resolutions, real-time ray tracing, and accelerated frame rates for a more immersive experience, all of which necessitate advanced GPUs.

Furthermore, with the rise of platforms like NVIDIA GeForce Now, Google Stadia, and Microsoft's xCloud, there is a pronounced shift towards cloud gaming. These platforms host powerful GPUs in the cloud, streaming games to users across various devices. For example, in April 2023, LG Electronics bolstered the cloud gaming capabilities of its 2023 TVs by introducing 4K support for NVIDIA GeForce NOW and rolling out the Boosteroid service. These enhancements, coupled with the 2022 integrations of Blacknut and Utomik, have broadened cloud gaming choices for LG TV users, subsequently driving up the demand for data centers equipped with high-performance GPUs.

The overall industry is classified into component, deployment mode, end-user, application, and region. The market is categorized by component into hardware, software, and services. Dominating the landscape, the hardware segment accounted for over 70% of the market share in 2023, with projections to exceed USD 200 million by 2032. A significant driver for the demand in GPU hardware is cryptocurrency mining, especially with currencies like Ethereum. End-user segmentation of the GPU market includes gaming, design & manufacturing, automotive, real estate, healthcare, and more.

Market Scope
Start Year	2023
Forecast Year	2024-2032
Start Value	$52.1 Billion
Forecast Value	$456.3 Billion
CAGR	27%

The gaming sector represented approximately 37% share in 2023. The escalating appetite for high-resolution gaming underscores the need for sophisticated GPUs capable of real-time rendering and seamless gameplay. Asia Pacific GPU market commanded roughly 40% share in 2023, with expectations of notable expansion through 2032. Mobile gaming reigns supreme in Asia Pacific, with a significant number of gamers engaging via smartphones. Highlighting the region's prominence, a report titled "India Gaming Opportunity: Robust Fundamentals to Power Continued Growth" by the Interactive Entertainment and Innovation Council (IEIC) and WinZo, underscores India as the world's largest gaming market.

Product Code: 3088

Chapter 1 Methodology & Scope

1.1 Research design
- 1.1.1 Research approach
- 1.1.2 Data collection methods
1.2 Base estimates and calculations
- 1.2.1 Base year calculation
- 1.2.2 Key trends for market estimates
1.3 Forecast model
1.4 Primary research & validation
- 1.4.1 Primary sources
- 1.4.2 Data mining sources
1.5 Market definitions

Chapter 2 Executive Summary

2.1 Industry 360° synopsis, 2021 - 2032

Chapter 3 Industry Insights

3.1 Industry ecosystem analysis
3.2 Supplier landscape
- 3.2.1 Raw material and component suppliers
- 3.2.2 Manufacturers
- 3.2.3 Software and technology providers
- 3.2.4 Service providers
- 3.2.5 Distribution channel
- 3.2.6 End user
3.3 Profit margin analysis
3.4 Cost breakdown analysis
3.5 Technology & innovation landscape
3.6 Patent analysis
3.7 Key news and initiatives
- 3.7.1 Partnership/Collaboration
- 3.7.2 Merger/Acquisition
- 3.7.3 Investment
- 3.7.4 Product launch & innovation
3.8 Regulatory landscape
3.9 Impact forces
- 3.9.1 Growth drivers
  - 3.9.1.1 Growth in Artificial Intelligence (AI) and Machine Learning (ML)
  - 3.9.1.2 Rise of cloud computing and data centers
  - 3.9.1.3 Increasing demand for high-end gaming and esports
  - 3.9.1.4 Expansion in cryptocurrency mining
- 3.9.2 Industry pitfalls & challenges
  - 3.9.2.1 Supply chain disruptions
  - 3.9.2.2 High cost of GPUs
3.10 Growth potential analysis
3.11 Porter's analysis
3.12 PESTEL analysis

Chapter 4 Competitive Landscape, 2023

4.1 Introduction
4.2 Company market share analysis
4.3 Competitive positioning matrix
4.4 Strategic outlook matrix

Chapter 5 Market Estimates & Forecast, By Component, 2021-2032 ($Bn, Units)

5.1 Key trends
5.2 Hardware
- 5.2.1 GPU type
  - 5.2.1.1 Integrated
  - 5.2.1.2 Dedicated
  - 5.2.1.3 Hybrid
- 5.2.2 Device type
  - 5.2.2.1 Computer
  - 5.2.2.2 Tablet
  - 5.2.2.3 Gaming console
  - 5.2.2.4 Television
5.3 Software
- 5.3.1 CAD/CAM
- 5.3.2 Simulation
- 5.3.3 Imaging
- 5.3.4 Digital video
- 5.3.5 Modeling and animation
- 5.3.6 Others
5.4 Service
- 5.4.1 Training & consulting
- 5.4.2 Integration & maintenance
- 5.4.3 Managed services

Chapter 6 Market Estimates & Forecast, By Deployment Model, 2021-2032 ($Bn)

6.1 Key trends
6.2 On-premises
6.3 Cloud

Chapter 7 Market Estimates & Forecast, By End-user, 2021-2032 ($Bn, Units)

7.1 Key trends
7.2 Gaming
7.3 Design and manufacturing
7.4 Automotive
7.5 Real estate
7.6 Healthcare
7.7 Others

Chapter 8 Market Estimates & Forecast, By Application, 2021-2032 ($Bn, Units)

8.1 Key trends
8.2 Gaming consoles
8.3 Data centers
8.4 AI & ML
8.5 Cryptocurrency mining
8.6 High-performance computing (HPC)
8.7 Rendering and visualization
8.8 Autonomous system
8.9 Edge computing and IoT
8.10 Healthcare and medical imaging
8.11 Others

Chapter 9 Market Estimates & Forecast, By Region, 2021-2032 ($Mn)

9.1 Key trends
9.2 North America
- 9.2.1 U.S.
- 9.2.2 Canada
9.3 Europe
- 9.3.1 UK
- 9.3.2 Germany
- 9.3.3 France
- 9.3.4 Italy
- 9.3.5 Spain
- 9.3.6 Russia
- 9.3.7 Nordics
- 9.3.8 Rest of Europe
9.4 Asia Pacific
- 9.4.1 China
- 9.4.2 India
- 9.4.3 Japan
- 9.4.4 South Korea
- 9.4.5 ANZ
- 9.4.6 Southeast Asia
- 9.4.7 Rest of Asia Pacific
9.5 Latin America
- 9.5.1 Brazil
- 9.5.2 Mexico
- 9.5.3 Argentina
- 9.5.4 Rest of Latin America
9.6 MEA
- 9.6.1 South Africa
- 9.6.2 UAE
- 9.6.3 Saudi Arabia
- 9.6.4 Rest of MEA

Chapter 10 Company Profiles

10.1 Advanced Micro Devices, Inc.
10.2 Amazon Web Services Inc.
10.3 Apple Inc.
10.4 ARM Holding
10.5 ASUS
10.6 Autodesk Inc.
10.7 Dassault Systemes, Inc.
10.8 EVGA
10.9 Google, Inc.
10.10 IBM Corporation
10.11 Imagination Technologies Group
10.12 Intel Corporation
10.13 Microsoft Corporation
10.14 Nimbix, Inc.
10.15 Nvidia Corporation
10.16 Penguin Computing, Inc.
10.17 PTC
10.18 Qualcomm Technologies
10.19 Samsung Electronics Co. Ltd.
10.20 Siemens AG