Market Overview:

Graphics Processing Units or GPUs are specialized processors designed primarily for rendering computer graphics efficiently. GPUs offer significant advantages over CPUs for applications that can take advantage of data parallelism, including video rendering, cryptocurrency mining, machine learning and artificial intelligence.

Market key trends:

One of the key trends driving the growth of the GPU market is the increasing demand for GPUs from the gaming industry. With the advent of advanced graphics and virtual reality in gaming, high-end GPUs are required to power graphics intensive games. As gaming continues to grow in popularity, the demand for powerful GPUs is also rising significantly. Manufacturers are consistently focusing on developing more powerful GPUs that can run the latest games smoothly at higher resolutions. This growing focus on gaming hardware is expected to propel the GPU market forward during the forecast period.
SWOT Analysis

Strength: Graphic Processing Unit (GPU) offers extremely high processing speeds for graphic intensive tasks like 3D rendering. They have thousands of parallel processing cores that can handle multiple tasks simultaneously.

Weakness: Developing software for GPUs requires knowledge of parallel programming which is more complex than traditional CPU programming. GPUs also consume more power compared to CPUs.

Opportunity: Increasing demand for AI and machine learning workloads is driving more algorithms and workloads to GPUs for faster processing. Emerging applications in virtual reality and augmented reality also provide growth opportunities.

Threats: Alternatives like field programmable gate arrays (FPGAs) and application specific integrated circuits (ASICs) can pose a threat if they offer competitive performance for specific workloads. Price wars among GPU manufacturers can also negatively impact profit margins.

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 a CAGR of 12% over the forecast period, due to increasing demand for graphics intensive applications across gaming, automotive, healthcare and industrial domains. GPUs are increasingly being deployed to accelerate AI and machine learning workloads.

North America dominated the global GPU market in 2023, accounting for around 35% of the total share. This was attributed to strong presence of GPU manufacturers as well as rapid adoption of GPUs across industries. Asia Pacific is anticipated to be the fastest growing regional market, growing at a CAGR of over 13% during the forecast period. This is due to rising electronics manufacturing industry as well as emerging gaming market in countries like China, India and Japan.

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 currently dominates the high-end GPU market with its GeForce and Quadro graphics cards being widely used across industries. AMD is a strong competitor offering lower cost alternatives through its Radeon series of GPUs.

Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it