Graphics Processing Unit Market Insights with statistics and Growth Prediction 2024

Graphics Processing Unit Market Insights with statistics and Growth Prediction 2024

The graphics processing unit market analysis document represents a detailed collection of prioritized market definitions, industry scope and reach, and pivotal industry insights. Information about the many pitfalls of the market as well as the frequent challenges encountered by core industry players have been summarized in the report. That apart, the document also endorses details about the numerous driving parameters impacting the revenue landscape of this vertical.

The accelerated adoption of AI & IoT technologies across a plethora of industrial sectors is expected to turn graphics processing unit market into an extremely lucrative investment ground over the forthcoming years. As IoT devices frequently collect massive amounts of data which need to be properly tracked & analyzed, high-end computing system demands have increased by quite an extent of late. This further drives the need for advanced GPUs, that are capable of facilitating the requisite support that is necessary for analyzing extensive & complex datasets in a rapid manner, fueling the overall growth of the global market.

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Since their humble inception in early 1970s, video games have evolved from extremely simple interactions that utilized simple geometric shapes to full-blown extremely immersive cinematic experiences that captivate the senses. According to nonprofit organization Consumer Reports, the first video game to take advantage of the GPU technology was ‘Quake’ in 1996. Though the game ran smoothly by just depending on the computing capabilities of the CPU, handing over the graphics rendering responsibilities to the GPU transformed the game into a graphical experience that is still fondly remembered to date.

As for modern-day video games, it is no secret that they all require an extremely powerful graphics card just to be able to get past the loading screen. This highly GPU-dependent sector would thus be majorly propelling the global graphics processing unit market in the years to come. The video game industry’s growth is such that the now-infamous 2018 video game Red Dead Redemption 2, which was developed by Rockstar Studios, recoded sales worth an unprecedented $725 million within the first three days of its release. This achievement makes it the second-biggest entertainment launch in history, behind the equally infamous Rockstar Studio-developed video game Grand Theft Auto 5, which recorded $1 billion in sales within the first three days of its launch in 2013.

The robust popularity of video games has led to graphics processing unit market players capitalizing extensively on the subsequent demand for gaming consoles. Indeed, the ESAC Report 2018 claims that around 80% of Canadians consider video games to be a mainstream entertainment. The Germany Trade & Invest Report (Issue 2016/2017) states that consoles were one of the biggest gaming platforms for the year, with a registered 15.6 million active gamers for the segment. The rising popularity of gaming will thus lead to market garnering quite some returns from gaming console sales.

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Propelled by an ongoing trend under which automobile manufacturers are making their respective vehicles smarter & safer on the road, the automotive sector is expected to contribute majorly toward the growth of the global graphics processing unit market. GPU-powered computing is enabling a better level of deep learning, which is being hailed as exactly something the automotive industry needs to make vehicles smart, if not smarter than their drivers.

According to a report by Automotive World, deep learning is an element of artificial intelligence (AI) possessing the capability to fulfil the role of an essential enabler that could make completely autonomous vehicles a reality. This software, however, needs to be able to parse vast amounts of data which requires extensive computing power. Previously this had limited the technology from being adopted for practical applications, but the rise of GPU accelerated computing has allowed the industry to overcome this limitation, opening up considerable avenues of growth for the global graphics processing unit market.

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