LONDON, April 01, 2024 (GLOBE NEWSWIRE) -- As per The Business Research Company’s graphic card global market report 2024, the graphic card market has witnessed exponential growth in recent years, with a notable increase from $32.54 billion in 2023 to an estimated $44.01 billion in 2024, boasting a compound annual growth rate (CAGR) of 35.3%. This surge can be attributed to various factors, including the expanding adoption of e-learning, the rise of social media marketing, globalization trends, and the integration of artificial intelligence across industries.
Anticipated Growth Trajectory
Forecasts indicate a sustained growth trajectory for the graphic card market, expected to reach a valuation of $133.11 billion by 2028, marking a CAGR of 31.9%. This anticipated growth stems from the integration of augmented reality (AR) and virtual reality (VR), cross-platform compatibility, the emergence of niche design specializations, and the adoption of subscription-based business models.
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Driving Forces: Video Games and Beyond
A significant driver of this graphic card market growth is the escalating popularity of video games, which rely heavily on graphic cards to deliver immersive experiences. With around 212.6 million Americans engaging in gaming activities weekly, the demand for high-quality graphics, textures, and visual effects continues to rise, propelling the graphic card market forward.
Key Players and Technological Advancements
Major companies operating in the graphic card market, including Apple Inc., Samsung Electronics Co. Ltd., and Nvidia Corporation, are focusing on integrating advanced technologies such as artificial intelligence and machine learning into their products. For instance, Advanced Micro Devices, Inc. recently launched the Radeon RX 7600 graphics card, leveraging AI and machine learning to enhance gaming and streaming experiences.
Regional Insights and Market Segmentation
North America emerged as the largest region in the graphic card market in 2023, with Asia-Pacific projected to experience the fastest growth in the forecast period. The graphic card market is segmented by type (dedicated, integrated, hybrid), device (computer, tablet, smartphone, gaming console, television, other devices), application (gaming, content creation and multimedia, VR/AR, AI and ML), and industry (electronics, IT and telecommunication, defense and intelligence, media and entertainment, other industries).
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The graphic card market is on an upward trajectory, fueled by technological advancements, evolving user trends, and the burgeoning demand for immersive experiences across various sectors. As companies continue to innovate and integrate cutting-edge technologies, the market is poised for significant expansion in the coming years, offering lucrative opportunities for stakeholders across industries.
Graphic Card Global Market Report 2024 by The Business Research Company provides insights on the graphic card market size, graphic card market segments, graphic card market trends, drivers and restraints, major competitors’ market positioning, revenues and market shares.
The Business Research Company has published over 7,500+ industry reports, covering more than 2,500+ market segments and 60 geographies. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.
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