Graphics Processing Unit Market: Analyzing Market Trends, Growth Projections, and Competitive Landscape in GPU Technology

The graphics processing unit market size has grown exponentially in recent years. It will grow from $41.05 billion in 2023 to $54.57 billion in 2024 at a compound annual growth rate (CAGR) of 32.9%. The growth in the historic period can be attributed to data center expansion, rise of cloud gaming services, autonomous vehicles and adas, edge computing and iot growth, blockchain and cryptocurrency.

The graphics processing unit market size is expected to see exponential growth in the next few years. It will grow to $155.54 billion in 2028 at a compound annual growth rate (CAGR) of 29.9%. The growth in the forecast period can be attributed to gaming industry growth, multimedia content creation, advent of graphical user interfaces, advancements in display technologies, rise of cryptocurrency mining. Major trends in the forecast period include ai and machine learning integration, edge computing and iot, autonomous vehicles, quantum computing support, 5g network rollout.

Market Overview -
A graphics processing unit (GPU) is a specialized electronic circuit or chip that accelerates computational tasks, particularly in creating and rendering images, videos, and animations. GPUs are built for parallel processing, so they can do graphics-related computations very rapidly and in parallel, making them suited for rapid and effective rendering of pictures and graphics.

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Rising Portable Computing Devices Adoption Fuels Growth In Graphics Processing Unit Market
The growing adoption of portable computing devices is expected to propel the growth of the graphics processing unit market in the coming years. Portable computing devices are small, lightweight, and mobile electronic devices designed for computing tasks on the go. Graphic Processing Units (GPUs) are used in portable computing devices to enhance their graphics performance and overall computing capabilities. For instance, in February 2023, according to Uswitch Limited, a UK-based price comparison and switching service company, there were 71.8 million mobile connections in the UK, a 3.8% (or around 2.6 million) increase over 2021. Moreover, 95% of the 68.3 million UK population, which is 65 million individuals, are expected to own a smartphone by 2025. Therefore, the growing adoption of portable computing devices will drive the graphics processing unit market.

Competitive Landscape -
Major companies operating in the graphics processing unit market report are Google LLC, Samsung Electronics Co.Ltd, Sony Corporation, Siemens AG, Intel Corporation, IBM Corporation, Qualcomm Incorporated, Broadcom Inc., Fujitsu Limited, Toshiba Corporation, NVIDIA Corporation, NEC Corporation, Advanced Micro Devices, Dassault Systèmes SE, Marvell Technology Inc., Realtek Semiconductor Corp., Arm Limited, Cirrus logic Inc, Verisilicon Inc, VIA Technologies Inc., ASPEED Technology Inc., Matrox Electronic Systems Ltd., Imagination Technologies Group, EVGA Corporation, Trident Microsystems Inc., 3DLabs Inc. Ltd., SAPPHIRE Technology Limited, 3dfx Interactive Inc., Rendition Inc., Oak Technology Inc.

Revolutionizing Gaming Technologies In Graphics Processing Units
Major companies operating in the graphics processing unit market are focusing on advanced technologies, such as gaming graphics cards, to better meet the needs of their existing consumers. Gaming graphics cards are specialized hardware designed to deliver high-performance graphics for gaming applications. For instance, in November 2022, Advanced Micro Devices Inc., a US-based manufacturing company of graphic cards and computer processors, launched AMD Radeon RX 7900 XTX and Radeon RX 7900 XT graphics cards based on the AMD RDNA 3 architecture. These graphics cards are the world's first gaming graphics cards using a sophisticated AMD chiplet architecture. They provide great performance and energy economy, enabling high-framerate 4K and greater resolution gaming in even the most challenging titles. It consists of the first gaming GPU with a chiplet architecture, delivering up to 15% higher frequencies and up to 54% greater power efficiency. It contains the new 5nm 306mm2 Graphics Compute Die (GCD), which has up to 96 compute units and provides the main GPU functionality. It also has six new 6 nm Memory Cache Die (MCD) at 37.5 mm2, each with up to 16 MB of the 2nd generation AMD Infinity Cache technology.

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Key Segments -

The graphics processing unit market covered in this report is segmented -

1) By Component: Hardware, Software, Service
2) By Deployment Type: On-Premises, Cloud
3) By Industry Vertical: Electronics, Information Technology And Telecommunication, Defense And Intelligence, Media And Entertainment, Automotive, Other Industry Verticals

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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