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Graphic Card Market Size, Share , Latest Trends, Key Players And Forecast To 2033
Graphic Card Market Share
According to The Business Research Company's, the graphic card market size has grown exponentially in recent years. It will grow from $32.54 billion in 2023 to $44.01 billion in 2024 at a compound annual growth rate (CAGR) of 35.3%. The growth in the historic period can be attributed to increasing adoption of e-learning, rise of social media marketing, globalization of businesses, freelance and gig economy trends, integration of artificial intelligence .
The graphic card market size is expected to see exponential growth in the next few years. It will grow to $133.11 billion in 2028 at a compound annual growth rate (CAGR) of 31.9%. The growth in the forecast period can be attributed to augmented reality (ar) and virtual reality (vr) integration, cross-platform compatibility, rise of niche design specializations, subscription-based business models, focus on sustainability and eco-friendly practices. Major trends in the forecast period include increased emphasis on user collaboration, transition to digital publishing, technological advancements in design tools, evolution of digital media, sustainable design practice.
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Market Drivers and Trends:
The surge in popularity of video games is expected to propel the growth of the graphic card market going forward. Video games refer to electronic games that involve user interaction with a visual interface to generate visual feedback on a two- or three-dimensional video display device, such as a TV screen, computer monitor, or handheld device. Video games use graphic cards to deliver the visual elements and graphical performance for an immersive gaming experience with high-quality graphics, textures, and visual effects. For instance, in July 2023, according to the Entertainment Software Association, a US-based video game trade association, US consumers spent $59.6 on video games in 2021, an increase from $56.1 from the previous year. Further, around 212.6 million Americans play video games at least one hour a week. Therefore, the surge in popularity of video games is driving the growth of the graphic card market.
Major companies operating in the graphic card market are focusing on adopting advanced technologies with artificial intelligence and machine learning, such as next-generation gaming graphics cards, to gain a competitive edge in the market. Next-generation gaming graphics cards are advanced devices that deliver high-quality and immersive gaming experiences. These graphics cards are designed to handle complex visuals, advanced textures, and real-time rendering, making them essential for gamers who demand top-notch performance. For instance, in May 2023, Advanced Micro Devices, Inc., a US-based semiconductor company, launched the Radeon RX 7600 graphics card. The Radeon RX 7600 is a graphics card designed for next-generation gaming and streaming experiences at 1080p. The Radeon RX 7600 graphics card is integrated with artificial intelligence and machine learning technology to deliver enhanced visual quality in streaming and recording. It enables users to have a better gaming experience through streaming and content creation with stunning visual features. It was designed with Radeon DNA 3 (RDNA 3) architecture features to deliver exceptional performance, visuals, and power efficiency.
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Major Key Players of the Market:
Apple Inc., Samsung Electronics Co. Ltd. , Hon Hai Precision Industry Co. Ltd., Intel Corporation, Qualcomm Technologies Inc., Nvidia Corporation, Advanced Micro Devices Inc., ASUSTeK Computer Inc., Micro-Star International Co. Ltd., GIGA-BYTE Technology Co. Ltd., ASRock Inc., Guillemot Corporation, TUL Corporation, Leadtek Research Inc., Colorful Co. Ltd., PNY Technologies Inc., Matrox Graphics Inc., EVGA Corporation, Biostar Microtech International Corp., Palit Microsystems Ltd., VisionTek Products LLC, Sapphire Technology Limited, Zotac Technology Limited, Club 3D, InnoVISION Multimedia Limited, Gainward Co Ltd. , Diamond Multimedia, XFX Inc., Albatron Technology Co. Ltd., STB Systems Inc.
Graphic Card Market 2024 Key Insights:
• The graphic card market is expected to grow to $133.11 billion in 2028 at a compound annual growth rate (CAGR) of 31.9%.
• Surge In Popularity Of Video Games Drives the Market
• Adoption Of Advanced Technologies With Artificial Intelligence And Machine Learning In Radeon RX 7600 Graphics Card
• North America was the largest region in the graphic card market in 2023
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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