Dublin, March 02, 2023 (GLOBE NEWSWIRE) -- The "GPU Database Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Component, Deployment, by Application, Industrial Vertical" report has been added to ResearchAndMarkets.com's offering.
The GPU database market size was valued at US$ 1,112.11 million by 2028 from US$ US$ 388.81 million in 2022. It is expected to grow at a CAGR of 19.1% during 2021-2028.
Strong ecosystem support, increased customer adoption, and a faster journey from research to production are prominent trends accelerating the demand for the GPU database market across various enterprises. The adoption of GPU is increasing faster, exceeding the data growth rate; hence, it promises to deliver next-generation platforms for accelerating analytics.
It provides accelerated databases with significant benefits compared to mainstream databases, generally regarding repetitive queries on massive amounts of data. The increased adoption of machine learning further accelerates the demand for GPUs, enhancing mathematical computation capability and speeding up computational processes. Thus, increasing adoption is expected to bolster the market over the forecast period.
The demand for GPU databases is increasing in North America due to the faster adoption of advanced technologies in the US, Canada, and Mexico. North America holds the largest market share due to the increasing uptake of GPU-accelerated systems and growing initiatives by industry players to achieve partnerships with leading players by offering analytical processing and data processing solutions.
North American countries hold a potential demand for high-performance computing in various data-intensive industries, which are witnessing healthy uptake of GPU-accelerated tools across industry verticals. For instance, in August 2022, Intel has been hyping up its media delivery and cloud gaming with Flex Series GPUs, which are placed in the cloud data centers for AI inferencing and graphics, such as gaming and video to remote devices. Therefore, the increasing adoption of AI and ML in industries is anticipated to drive the market over the forecast period in North America.
In Asia Pacific, countries are developing at a faster pace due to growth in industrialization and integration of advanced technologies such as AI, ML, and data analytics, which is subsequently augmenting the need for GPU-accelerated solutions. In addition, prominent players in Asia Pacific and emerging economies, such as India and China, have accelerated the demand for GPU database solutions. Furthermore, small and medium enterprises in Asia Pacific have expanded their investments in integrating GPU databases owing to the rise in high-performance computing applications in various data-intensive industries. Hence, such factors are increasing the regional GPU database market share.
The growing demand for GPU database solutions from the Middle East & Africa and South & Central America is also driving the market. The countries in MEA are highly focused on developing sustainable infrastructure by adopting AI and ML (which in turn require GPU databases) across industry verticals.
For instance, in August 2022, Dubai Electricity and Water Authority (DEWA) planned investment in AI and ML to improve efficiency and smart grid integration. The countries in these regions are growing, exhibiting strong potential for GPU database providers. These aspects are anticipated to catalyze GPU database market growth over the projected timeframe.
The growing uptake of GPU databases across various applications in every vertical of the industry is trending the market dynamics. The leading consumer internet companies, automakers, and healthcare organizations have adopted GPU technologies.
For instance, Chinese firm eCommerce JD.com uses NVIDIA's DeepStream SDK and TensorRT on Tesla P40 GPUs to identify and filter 1,000 channels of live-streamed full-HD videos for more family-friendly content. Also, BMW employs H2O.ai machine learning algorithms (XGBoost) and convolutional neural nets to support vehicle engineering and after-sales. Thus, increasing uptake across various industries is further propelling the GPU database market growth over the forecast period.
Ongoing developments in GPU database technology are strengthening the market. For instance, in June 2022, a leading graph data platform, Neo4j, announced a partnership with Deloitte Consulting Southeast Asia (Deloitte) to provide various services to clients in the area. According to the agreement, Neo4j will supply Deloitte and, ultimately, the end-user product and technical support. Thus, such factors are expected to drive the market outlook over the forecast period.
Based on the GPU database market report, the GPU database market is segmented based on component, deployment, application, industry vertical, and geography. Based on components, the GPU database market GPU is bifurcated into tools and Services. In terms of deployment, the GPU database market is segmented into on-premises and cloud-based.
Based on application, the GPU database market is segmented into fraud detection & prevention, governance risk & compliance (GRC), customer experience management, predictive maintenance, supply chain management, threat intelligence, and others.
Based on industry vertical, the GPU database market is segmented into BFSI, IT & telecom, retail & e-commerce, healthcare, transportation & logistics, government & defense, and others.
Based on geography, the GPU database market is segmented into North America (the US, Canada, and Mexico), Europe (Germany, France, Italy, UK, Russia, and the Rest of Europe), and Asia Pacific (Australia, China, India, Japan, South Korea, and the Rest of APAC), the Middle East & Africa (South Africa, Saudi Arabia, the UAE, and the Rest of MEA), and South America and Central America (Brazil, Argentina, and the Rest of SAM).
Geographically, the GPU database market is segmented into five major regions: North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South America (SAM). In 2021, North America led the market and was closely followed by Europe. Further, Asia Pacific is expected to register the highest CAGR in the GPU database market from 2022 to 2028.
| Report Attribute | Details |
| No. of Pages | 192 |
| Forecast Period | 2022 - 2028 |
| Estimated Market Value (USD) in 2022 | $388.81 Million |
| Forecasted Market Value (USD) by 2028 | $1112.11 Million |
| Compound Annual Growth Rate | 19.1% |
| Regions Covered | Global |
A selection of companies mentioned in this report includes
- BRYTLYT
- GRAPHISTRY
- H2O.ai
- Jedox
- Kinetica DB Inc.
- Neo4J, INC.
- SQREAM DB
- ZILLIZ
- NVIDIA CORPORATION
- HEAVY.AI
For more information about this report visit https://www.researchandmarkets.com/r/gnxshm-database?w=12
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