Graphics Processing Unit Global Market Report 2024

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 observed in the historic period can be attributed to factors such as the expansion of data centers, the proliferation of cloud gaming services, advancements in autonomous vehicles and Advanced Driver Assistance Systems (ADAS), the rise of edge computing, and the growth of the Internet of Things (IoT). Additionally, developments in blockchain and cryptocurrency technologies have also played a significant role in contributing to this growth.

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 anticipated growth in the forecast period can be attributed to the expansion of the gaming industry, increased multimedia content creation, the advent of graphical user interfaces, advancements in display technologies, and the continued growth of cryptocurrency mining. Major trends expected in the forecast period include the integration of artificial intelligence (AI) and machine learning, the proliferation of edge computing and the Internet of Things (IoT), advancements in autonomous vehicles, support for quantum computing, and the rollout of 5G networks.

The increasing adoption of portable computing devices is poised to drive the growth of the graphics processing unit (GPU) market in the foreseeable future. Portable computing devices, characterized by their small size, lightweight nature, and mobile functionality, are designed for on-the-go computing tasks. GPUs play a crucial role in these devices, enhancing graphics performance and overall computing capabilities. In February 2023, Uswitch Limited reported a notable surge in mobile connections in the UK, reaching 71.8 million, reflecting a 3.8% increase over the previous year. Additionally, the projection that 95% of the 68.3 million UK population will own a smartphone by 2025 further underscores the growing adoption of portable computing devices, thereby propelling the graphics processing unit market.

Major players in the graphics processing unit market are strategically focusing on advanced technologies, particularly in the realm of gaming graphics cards, to cater to the evolving needs of their customer base. Gaming graphics cards are specialized hardware designed to deliver high-performance graphics for gaming applications. For example, in November 2022, Advanced Micro Devices Inc., a US-based manufacturing company of graphic cards and computer processors, introduced the AMD Radeon RX 7900 XTX and Radeon RX 7900 XT graphics cards based on the AMD RDNA 3 architecture. These groundbreaking gaming graphics cards leverage a sophisticated AMD chiplet architecture, offering exceptional performance and energy efficiency. Featuring the world's first gaming GPU with chiplet architecture, these cards deliver up to 15% higher frequencies and up to 54% greater power efficiency. The incorporation of the new 5nm 306mm2 Graphics Compute Die (GCD) and six new 6 nm Memory Cache Die (MCD) with 2nd generation AMD Infinity Cache technology further enhances their capabilities.

In May 2022, Intel Corporation, a US-based semiconductor and GPU manufacturer, executed the acquisition of Siru Innovations for an undisclosed amount. This strategic move aimed to position Intel as a formidable competitor against Nvidia and AMD in the discrete graphics and accelerated computing space. Intel's initiatives, including the launch of Arc GPUs for PCs, the upcoming Ponte Vecchio GPU for high-end computing, and the Blockscale ASIC for Bitcoin mining, underscore the company's commitment to expanding its presence in the GPU market. Siru Innovations, a Finland-based GPU and graphics development company, played a pivotal role in Intel's strategy to enhance its graphics capabilities.

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.

Asia-Pacific was the largest region in the graphics processing unit market in 2023. LAMEA is expected to be the fastest-growing region in the forecast period. The regions covered in the graphics processing unit market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the graphics processing unit market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The graphics processing unit market includes the revenues earned by entities by providing services such as graphics rendering, parallel processing, machine learning, and AI acceleration. The market value includes the value of related goods sold by the service provider or included within the service offering. The graphics processing unit market consists of sales of integrated GPUs, discrete GPUs, open-air GPUs, blower GPUs, and external graphics cards (eGPUs). Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

A graphics processing unit (GPU) is a specialized electronic circuit or chip designed to accelerate computational tasks, with a particular emphasis on creating and rendering images, videos, and animations. GPUs are engineered for parallel processing, enabling them to swiftly and efficiently handle graphics-related computations in parallel. This characteristic makes GPUs well-suited for the rapid and effective rendering of images and graphics.

The primary components of graphics processing units (GPUs) include hardware, software, and services. Hardware involves the physical components of a computer system, with the GPU being a specialized electrical circuit designed to quickly operate and modify memory, expediting the generation of images in a frame buffer for display. GPUs find deployment both on-premises and in cloud modes, catering to various industry verticals such as electronics, information technology, telecommunications, defense and intelligence, media and entertainment, automotive, and other sectors.

The graphics processing unit research report is one of a series of new reports that provides graphics processing unit market statistics, including the graphics processing unit industry's global market size, regional shares, competitors with a graphics processing unit market share, detailed graphics processing unit market segments, market trends and opportunities, and any further data you may need to thrive in the graphics processing unit industry. This graphics processing unit market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


This product will be delivered within 3-5 business days.