Graphics Processing Unit Market 2024 – Drivers, Restraint & Future Growth

Increasing application in the healthcare sector and evolving virtual gaming landscape will significantly drive the graphics processing unit market outlook. Graphics processing units are specialized electronic circuits that are mainly designed for fast and effective image rendering and are highly optimized for data-parallel and throughput computing.

When compared with CPUs, modern GPUs offer superior processing power, memory bandwidth and efficiency. They help offer better gaming experience to users compared to onboard graphics solutions that are unable to match up to the performance of dedicated graphic cards. GPUs also provide a rich video output and outstanding performance in terms of interactive input/output.

In Big Data analytics and machine learning applications, GPUs are more efficient as they allow better multiple parallel processing. Driven by growing demand across various sectors, GPU manufacturers are working on modern products and solutions. For example, in 2020, leading chipmaker, Intel launched its first Xe discrete graphics product, the Iris Xe Max discrete GPU consisting of a new ‘deep link’ feature which aggregates GPUs and CPUs to accelerate overall performance. Given to such developments, the graphics processing unit market may record over USD 80 billion by 2024.

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The healthcare industry is increasingly leveraging the computational power of GPUs in interactive model-based image registration and MRI connectivity mapping as well as in medical imaging and image reconstruction. Supported by robust technological advancements, healthcare solution providers are able to develop medical devices that offer advanced visualization capabilities.

Hospitals and healthcare institutes are also harnessing the capabilities of advanced GPUs for research and other medical applications. In 2020, Thailand’s Siriraj Hospital deployed two NVIDIA DGX A100 systems built on the NVIDIA A100 Tensor Core GPU for clinical research and medical applications.

GPU companies are collaborating with technology service providers in order to integrate advanced technologies into their new products. Chipmakers are making huge investments in R&D to provide better performing chips which can crunch big data sets used in machine learning and AI applications like voice and image recognition.

Growing demand for high power computing for the representation of complex graphical objects and animations will boost the adoption of advanced GPUs. With cloud computing gaining traction, processor manufacturers are working with cloud service providers to offer GPUaaS to customers. Cloud-based GPU capabilities provide superior computational power to customers without the need for investing in specific hardware on their premises.

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Europe comprises of a large number of gaming companies that are spending heavily on developing newer PC games. As per the Association for UK Interactive Entertainment, in 2018, there were around 2261 active gaming companies in the UK utilizing a broad range of gaming technologies like AI and AR to develop games for consoles, PCs and mobiles.

The demand for GPUs is also significantly high from cryptocurrency miners. These miners are shifting to Norway and Sweden to benefit from low temperatures and inexpensive hydro-electric energy to cool and power-up their high-performance servers.

Major Key Points from Table of Content:

Chapter 6    Graphics Processing Unit Market, By Deployment Model

6.1    Key trends, by deployment model

6.2    On-premise

6.2.1    On-premise market size

6.3    Cloud

6.3.1    Cloud market size

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