Graphics Processing Unit Market Trends, Share and Outlook by 2030: Intel Corp, NVIDIA Corp, Qualcomm Inc

According to the new research report on "Graphics Processing Unit (GPU) Market Share and Forecast to 2030 - Global and Regional Trends, and Growth Opportunity Analysis," published by The Insight Partners, the Graphics Processing Unit (GPU) market size is expected to grow from US$ 41.23 billion in 2022 to US$ 395.52 billion by 2030; it is estimated to grow at a CAGR of 32.7% from 2022 to 2030.

The US reports a rise in number of people playing video games. The number has increased to 216 million in 2022 from 227 million in 2021. According to Asia's technology news network Techday Asia, the majority of people are noticed to be playing on their smartphones. Thus, smartphones and mobile devices are ranked first for the gaming industry. Also, 70% of respondents responded that their preferred gaming device is their mobile phone. The gaming consoles and gaming PCs are ranked afterward. In these systems, there is a high need for GPUs for convenient functioning. Therefore, driving the growth of Graphics Processing Unit (GPU) market.

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In the graphics processing unit (GPU) market, in recent years, there has been a boom in demand for high-end personal computing devices and gaming console effects. As the GPU is an essential component of the finished product, investing in a graphics add-in board is beneficial for micro-processing companies. The global use of computing devices such as laptops or personal computers (PCs), as well as increased investment in the gaming industry, have always been important drivers for the expansion of the graphics processing unit (GPU) market in recent years. During the forecast period, the rising need for high-end graphics and computing applications, the advancement of technologies such as AI, and the trend of real-time analysis will mainly increase the scope of GPU technology.

In the graphics processing unit (GPU) market, many companies demonstrate 5G VR technologies. NVIDIA and several partners announced the successful demonstration of a proof of concept that utilizes edge computing and 5G-enabled VR technology to allow two engineering teams located ~70 miles apart to work as if they were in the same room. The project is being carried out at Hyperbat, the UK's largest independent manufacturer of electric vehicle batteries. Engineers from Wantage and Coventry at the company can work on a 1:1-scale digital twin of an EV battery at the same time. Thus, the wide adoption of AR and VR technologies in various industries bolsters the demand for powerful GPUs.

Graphics Processing Unit (GPU) Market: Key Findings of Study:

The graphics processing unit (GPU) market in the MEA grows significantly owing to the increasing adoption of AI and ML. GPUs are useful for accelerating AI and ML workloads, which are becoming gradually important in a wide range of industries, including healthcare, finance, and manufacturing. Also, there is a growing demand for high-performance computing. GPUs are also used for high-performance computing (HPC) applications, such as scientific research, engineering simulations, and video editing. The demand for HPC upsurges rapidly in the MEA as governments and businesses invest in new technologies. Additionally, the gaming industry in the region expands rapidly, and GPUs are a key component of gaming hardware. Thus, graphics processing unit (GPU) market is gaining traction.

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The media entertainment & video gaming industry in the US witness's significant traction in the graphics processing unit (GPU) market. According to the International Trade Administration's Global Media & Entertainment, the video game sector supports US gaming companies with export and expansion plans to international graphics processing unit (GPU) market. Additionally, 80% of gaming companies in the country expand their business across the world to increase sales. The launches of new gaming consoles will be beneficial for the industry in both hardware and software. All gaming consoles, laptops, and PCs require GPUs to function smoothly. Increasing sales and demand for video gaming drive the graphics processing unit (GPU) market growth in the US. Thus, the US graphics processing unit (GPU) market is experiencing significant growth.

The graphics processing unit (GPU) is one of the most essential types of computing technology for both consumer and business use. The GPU, which is designed for parallel processing, is utilized in a variety of applications, including graphics and video rendering. Although they are best known for their gaming capabilities, GPUs are increasingly being used in creative production and artificial intelligence (AI).

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