Selbyville, Delaware, Jan. 29, 2019 (GLOBE NEWSWIRE) --
The graphic processing unit (GPU) market is predicted to surpass a revenue of over USD 80 billion by 2024 when the worldwide GPU industry shipments are anticipated to reach 121,000 thousand units, according to a 2019 Global Market Insights, Inc. report. The market growth is attributed to a surge in the adoption of the IoT in industrial and automotive sectors. As the IoT devices gather huge amounts of data that needs to be tracked and analyzed, the demand for high-end computing system increases. This further propels the need for GPUs that provide the requisite support for analyzing complex datasets in a quick manner.
Other factors fueling the graphic processing unit (GPU) Market growth include various government-led investments in the semi-conductor industry and a rise in the uptake of the AI technology to drive innovations in sectors such as healthcare, automotive, and manufacturing.
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The GPU software market is projected to hold a market share of around 20% in 2024. CAM/CAD software is projected to hold a market share of over 40% in 2024 owing to the extensive use of these software in designing and manufacturing prototypes. Organizations first need to create visual effects for developing their products and then turn the designs into realistic products. As these software programs are extremely graphics-intensive, the demand for GPU-powered supercomputers will increase to support advanced computing capabilities required for the generation of models.
The dedicated GPU market is expected to grow at a CAGR of over 31% from 2018 to 2024 due to the growing demand for these processors as they are more powerful and designed to serve complex graphic processing calculations for applications such as 3D modelling, simulation, and gaming. Proliferation of tablets and gaming PCs will drive the demand for these processors. The built-in graphics technology in these devices helps to deliver unmatched performance and stunning visuals for HDR mobile gaming. The unit shipments of dedicated GPUs are expected to exceed 150,000 thousand units by 2024.
The integration & maintenance service segment is expected to hold a market share of over 35% in 2024. Organizations are rapidly using GPUs to accelerate the performance of their computing systems. The use of graphics-intensive applications utilizing AI compels them to ensure that GPU-accelerated containers match the requirements for deep learning software and are embedded properly. Thus, to ensure that their systems are up-to-date and delivering a high performance, the demand for integration & maintenance services increases.
Browse key industry insights spread across 315 pages with 543 market data tables & 28 figures & charts from the report, “GPU Market Size By Component (Software [CAD/CAM, Simulation, Imaging, Digital Video, Modelling and Animation], Hardware [GPU Type {Integrated, Dedicated, Hybrid}, Device Type {Computer, Tablet/smartphone, Gaming Console, Television and others}], Service [Training & Consulting, Integration & Maintenance, Managed Service]), By Deployment Model (On-premise, Cloud), By Application (Gaming, Design & Manufacturing, Automotive, Real-estate, Healthcare), Industry Analysis Report, Regional Outlook (U.S., Canada, UK, Germany, France, Italy, Spain, China, Japan, Australia, South Korea, India, Brazil, Mexico, South Africa, Gulf), Growth Potential, Competitive Market Share & Forecast, 2018 - 2024” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/gpu-market
On-premise GPU deployment held a major market share of over 90% in 2017. On-premise GPU server deployment give organizations the capability to manage their own infrastructure and customize it accordingly. The model is also cost-effective as it eliminates the need to outsource the management of infrastructure to third-parties. Such factors are likely to drive the on-premise (graphic processing unit) GPU market growth.
The gaming application segment is expected to hold a major share of the GPU market accounting for over 34% by 2024. This market growth is attributed to the growing demand for high-resolution games. Tablet and smartphone penetration are fueling the growth of the gaming industry.
The Latin America GPU market is expected to exhibit the fastest growth rate with a CAGR over 35% from 2018 to 2024. The (graphic processing unit) GPU market growth is attributed to the profound growth of the gaming industry in countries including Brazil and Mexico. A rise in the sales of smartphones, PCs, and tablets is also fueling the gaming industry growth.
Some of the prominent players operating in the graphic processing unit Market include Advanced Micro Devices (AMD), Autodesk, Amazon Web Services, Cogeco Communications, Dassault Systems, Google, IBM, Intel, Microsoft, NVIDIA, Nimbix, Penguin Computing, PTC, Qualcomm, ScaleMatrix, Siemens AG, and S3 Graphics.
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About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.