The Graphic Processing Unit (GPU) market is projected to reach $274 billion by 2029. Increasing utilisation of graphic applications in PCs and mobile devices will be responsible for the hike.
By 2029, the global GPU market could exceed $274 billion, driven by high demand for specialised processors proficient in handling both 2D and 3D graphics. A Stocklytics report has compared the current trends of the GPU market and said so.
According to the report, in 2029, the GPU market will represent a 33.2% compound annual growth rate (CAGR), amounting to $274B. At present, the market is worth $65.27 billion, marking a significant rise from $43.6 billion in 2023.
In the graphical comparison, Stocklytics cited a substantial surge in growth prospects in the sector. Exceptional advancements in AI technologies and the vibrant gaming industry have significantly propelled this growth. The GPU market is positioned for remarkable success with both sectors rapidly expanding.
The global surge in 5G subscriptions, projected to escalate from a modest 12 million in 2019 to over 4.5 billion by 2028, promises success for the GPU industry.
Mobile GPUs have emerged as the latest sought-after commodity. Consequently, major tech players such as Samsung, Apple, and Xiaomi are competing to excel in 5G smartphone production, thereby driving GPU sales and bolstering the market’s standing. However, PCs and gaming consoles maintain their dominance as the primary users of GPUs, particularly in the Asia Pacific region.
India, Japan, and South Korea claim the largest market shares in the GPU industry. Persistent innovation in technology and the expansion of the gaming sector in these nations have kept them at the forefront.
In 2023, India had over 490 million gamers, and by 2025, this number is expected to reach around 500 million, growing at a rate of about 20.7% each year. By 2028, India, Nepal, and Bhutan are set to lead in 5G mobile subscriptions in their region, showing that the Asia Pacific remains the main market for processors.
Intel, Nvidia, and AMD dominate the GPU market. AMD’s recent launch of the AMD Radeon RX 7900M boosted its market share by 2.2%. Nvidia’s introduction of the GeForce RTX SUPER Series GPUs earlier this year paved a way for AI-powered GPUs. These companies are progressing in the GPU market, with success relying on integrating AI and excelling in gaming.
