The global Graphics Card market size was estimated at USD 65.2 billion in 2023 and is projected to reach USD 474.9 billion in 2030 at a CAGR of 32.80% during the forecast period 2023-2030.
The graphics card market is an important part of the graphics processing of a computer, laptop or other computing devices. It provides the clock speed and refresh requirements needed to display and use programs needed in computer technology. It can be used for a variety of purposes, from military to everyday use requirements. The graphics card market is based on the graphics processor or GPU, which is one of the most important types of computing technology for personal and business use. Designed for parallel processing, GPUs are used in many applications, including graphics and video rendering.
In recent years, the graphics card market has grown significantly and steadily in various sectors. One of the main drivers of this growth is the growing demand in the gaming industry, fueled by the growing popularity of video games, e-sports and virtual reality. Gamers are constantly looking for better visual experiences, which has led to a greater need for high-performance graphics cards that can deliver realistic graphics and smooth gameplay. Additionally, the industrial sector has contributed greatly to the growth of the market by adopting graphics processing units (GPU) in applications such as artificial intelligence, machine learning and autonomous driving.
COVID-19 affected the industry by disrupting the supply chain at an early stage. However, the market reported increased consumer demand in a certain segment, mainly supporting the growth of GPU technology. In April of this year, Nvidia announced that researchers found trends in 25 cases of Hubble data using a supercomputer with NVIDIA GPUs. High-performance computing is used to analyse harsh atmospheres with NVIDIA GPUs to increase understanding of all planets.
The pandemic had a considerable impact on businesses globally, with nations like India and China bearing the brunt of the virus's outbreak. The market is continuously growing due to increasing demand from the gaming industry, adoption of GPUs in emerging technologies such as artificial intelligence and ML, and rising high-performance computing requirements in various sectors, among others. The growing business of IoT systems in the Asia-Pacific region will further increase the demand for efficient graphical computing systems. The market is characterized by intense competition between design organizations and vendors, and startups have emerged as major players in GPU architecture and framework design. However, the market is also facing challenges due to the global shortage of semiconductor chips, which is affecting the supply chain and the availability of graphics cards. Overall, the market is witnessing advancements in GPU technology and innovation to meet the changing needs of various industries.
Asia-Pacific to Dominate the Market