DUBLIN, May 26, 2023 /PRNewswire/ — The Graphics Processing Unit (GPU) Market – Forecasts from 2023 to 2028 report has been added to ResearchAndMarkets.com’s offering.
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The graphics processing unit (GPU) market is expected to grow at a CAGR of 29.57% and reach US$190.977 billion in 2028 from US$31.154 billion in 2021.
An electronic circuit/chip known as a graphics processing unit (GPU) is specialized and created to manipulate and alter memory to speed up the creation of images in a frame buffer to be output to a display device. GPUs are used in gaming platforms, personal PCs, workstations, mobile devices, electronic devices, and embedded systems.
According to the Indian Electrical Equipment Industry Mission Plan 2012-2022, the Indian government intends to turn the country into an electrical equipment manufacturer and achieve US$100 billion in productivity by matching exports and imports.
The widespread use of computing devices such as laptops and personal computers (PCs), as well as rising investments in the electronics and automotive sectors, have been key growth drivers for the GPU market in recent years. The expansion of technologies such as AI, the trend towards real-time analytics, and the rising demand for sophisticated graphics and computing applications are other factors driving the expansion of the graphics processors market over the forecast period.
Growing data centers coupled with growing computing applications will boost the GPU unit market.
In data centers, the GPUs are used for a variety of activities, including running and training machine learning models. GPUs are also used by companies to accelerate models that run on supercomputers. As data centers continue to evolve around the world, demand for graphics processing units will increase globally. As of September 2022, India’s data center capacity was 870 MW powered by 138 data centers and is expected to exceed 1,700 MW by 2025. In November 2022, AWS announced the opening of AWS Asia Pacific (Hyderabad) Region, its second data center in India.
According to the North American Data Center Trends Report, there were over 100 data center projects announced or in the planning stages in the United States in 2021. More than 90% of data center projects are built by large-scale colocation service providers such as Facebook, Apple, Google and Microsoft. According to PIB.gov, in February 2022 at the National Data Center, Shri Amitesh Kumar Sinha, joint secretary of MeitY, plans to expand capacity by 2000MW by 2027, accelerating the increase in planned data center capacity across the country.
The story goes on
This shows that investments in data centers and computing applications will increase, which will boost the GPU market. In addition, a sharp increase in data demand and the opening of data centers have prompted large corporations and governments to invest in GPUs, which will be a growing GPU market in the forecast period.
Increasing demand from the automotive industry will continue to boost the market for graphics processors.
GPUs can do much more than just power dashboards and displays in cars in the automotive industry. They can display and operate advanced driver assistance systems (ADAS) that are now standard in modern vehicles. As vehicle sales and production increase, so does the demand for GPUs. According to the International Energy Agency (IEA), despite delays in the supply chain and due to the Covid-19 epidemic, electric car sales hit a new high in 2021 and sales nearly doubled to 6.6 million, accounting for about 9 percent of sales % compared to 2020 equivalent, bringing the total number of EVs on the road to 16.5 million.
According to OICA data, global automobile production increased from 57,086,075 units in 2021 to 61,598,650 units in 2022, an increase of 8%. This shows that the demand for GPUs will increase due to the increasing production and sales of vehicles, which will fuel the growth of the GPU market.
Asia Pacific is expected to drive the market growth over the forecast period.
The Asia-Pacific region is expected to dominate the graphics processors market during the forecast period. The regional economy is fueled by increasing demand for electronic devices such as smartphones and laptops in countries such as China and India. For example, according to the International Data Corporation, India shipped 14.8 million units of personal computers (PCs) in calendar year 2021, up 44.5% year-on-year. The country’s PC industry, which includes desktops, notebooks and workstations, had a good year with shipments increasing.
In addition, rising spending on data centers and research centers across Asia-Pacific is expected to boost GPU demand. For example, in February 2023, the Department of Treasury announced that as part of the National Data Governance Policy, three artificial intelligence (AI) centers of excellence would be established to be acquired to enable access to anonymized data in these data centers.
This will boost demand for GPUs in Asia Pacific. In February 2022, one of two data center clusters announced by the government to be built in the YRD hub is the “Yangtze River Delta Ecological Green Integrated Development” demonstration zone, whose construction is scheduled for Shanghai, Suzhou (Jiangsu Province) and Jiaxing (Jiangsu Province). Zhejiang) will start ). This shows that demand for GPUs will grow rapidly as more Asia-Pacific countries invest in data centers and increased demand for electronic devices will fuel GPUs market growth.
In March 2022, Intel launched the Arc series of graphics processing units (GPU) for laptops and desktop PCs. Arc 3 GPUs are intended for enhanced gaming and content creation, while laptops with the Arc 5 and Arc 7 GPUs are designed for demanding and powerful gaming.
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Main topics covered:
2. RESEARCH METHOD
4. MARKET DYNAMICS
5. GRAPHICS PROCESSING EQUIPMENT MARKET BY TYPE
6. GRAPHICS PROCESSING EQUIPMENT MARKET BY END-USER
7. GRAPHICS PROCESSING UNITS MARKET BY GEOGRAPHY
8. COMPETITIVE ENVIRONMENT AND ANALYSIS
9. COMPANY PROFILES
For more information about this report, visit https://www.researchandmarkets.com/r/w3031l
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