The global Graphics Processing Unit (GPU) Market size is projected to reach a CAGR of 33.3% from 2023-2030.
A Graphics Processing Unit (GPU) is a chip or electronic circuit able to render graphics for display on an electronic machine. The GPU was introduced to the broader market in 1999 and is famously known for its use in offering the smooth graphics that customers expect in modern videos and games. GPUs come in two primary types: integrated and discrete. An integrated GPU seems not to come on its own separate card at all and is rather embedded alongside the CPU. A discrete GPU is a distinct chip that is installed on its own circuit board and is typically attached to a PCI Express slot. GPUs use transistors to execute mathematical calculations of 3D graphics. Modern GPUs include support for programmable shaders to manage vertices and textures, further improving high-precision color spaces while displaying 3D graphics. GPUs are used in fixed systems, mobile phones, personal computers, workstations, and game consoles. Modern GPUs are very also effective at manipulating computer graphics and image processing. Their highly parallel structure makes them more effective than general-purpose central processing units (CPUs) for algorithms that process large blocks of data in correspondence. In a personal computer, a GPU can be commenced on a video card or embedded on the motherboard. GPUs were typically designed to stimulate the rendering of 3D graphics. Over time, they became more flexible and programmable, enhancing their abilities. This allowed graphics programmers to produce more interesting visual effects and realistic scenes with excellent lighting and shadowing techniques.
The global graphics processing unit market is principally driven by the growing need for specialized processors that can manage complex mathematical calculations related to 2D and 3D graphics. The augmenting usage of processors to support graphics applications and 3D content in several industry verticals, including automotive, manufacturing, real estate, and healthcare is also boosting the market growth. Besides, the growing adoption of portable computing devices such as laptops is also promoting the growth of the GPU market across the world. Moreover, the mounting number of complex graphic games is the major factor driving the growth of the market. These heavy application games need high-memory graphic cards, hence driving the growth of the market.
On the other hand, the growth of mobile-based gaming and the declining demand for desktops is expected to limit the growth of the GPU market across the globe. Moreover, the inadequacy of integrated GPU to enable intensive graphic designing software may hinder market growth.
The global graphic processing unit market has witnessed significant growth in the past few years; however, due to the outbreak of the COVID-19 pandemic, the market is projected to witness a sudden downfall in 2020. The outbreak of COVID-19 has constrained different governments to force lockdowns which has stopped the tasks as well as production facilities of a number of organizations which is influencing the worldwide economy. Furthermore, various ventures across the globe are seeing a shortage of work along with the shortage of hardware components from the supplier side deficient which is expected to bring an adjustment in the growth of the GPU market in the forthcoming years.
The market for graphics processing units (GPUs) is expanding quickly, driven by the rising need for high-performance computing across a range of industries, including gaming, artificial intelligence, and data analytics. Based on the kind of GPU, application, and geography, the market may be divided. Several major companies, including NVIDIA Corporation, AMD Inc., and Intel Corporation, dominate the industry and are making significant investments in R&D to create cutting-edge GPUs with improved performance and reduced power consumption. In the upcoming years, it is anticipated that the market will continue to expand quickly because to the rising need for high-performance computing across a variety of applications. However, issues like the high price of GPUs and the availability of substitutes like integrated GPUs might impede market expansion. Overall, the GPU industry offers huge potential for businesses that can create scalable, affordable, high-quality manufacturing processes to address the increasing demand for high-performance computing in a variety of applications.
