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Graphic Processing Unit (GPU) Market Growth is Mainly Driven by Surge in The Adoption of The IoT In Industrial and Automotive Sectors Over 2018 to 2024

Author : Ronak Bora | Published Date : 2019-05-22 

The graphic processing unit (GPU) market growth is attributed to a surge in the adoption of the IoT in industrial and automotive sectors. As the IoT devices gather huge amounts of data that needs to be tracked and analyzed, the demand for high-end computing system increases. This further propels the need for GPUs that provide the requisite support for analyzing complex datasets in a quick manner. Other factors fueling the graphic processing unit (GPU) Market growth include various government-led investments in the semi-conductor industry and a rise in the uptake of the AI technology to drive innovations in sectors such as healthcare, automotive, and manufacturing. For instance, in April 2018, Google announced its plans to reinvent the U.S. healthcare industry with a focus on AI and data. The company is using its expertise in AI to create a new paradigm for the detection, diagnosis, and treatment of diseases. Bringing AI to healthcare will generate the need for graphic systems in image processing and rendering.

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The dedicated graphic processing unit (GPU) market is expected to grow at a CAGR of over 31% from 2018 to 2024 due to the growing demand for these processors as they are more powerful and designed to serve complex graphic processing calculations for applications such as 3D modelling, simulation, and gaming. Proliferation of tablets and gaming PCs will drive the demand for these processors. The built-in graphics technology in these devices helps to deliver unmatched performance and stunning visuals for HDR mobile gaming. The unit shipments of dedicated GPUs are expected to exceed 150,000 thousand units by 2024.

It is expected that clinical health AI applications will create around USD 150 billion in annual savings for the U.S. healthcare industry by 2026. The increasing popularity of AI-based applications will compel GPU manufactures to develop new GPUs that run intensive machine learning algorithms efficiently. However, a declining market for cryptocurrency will affect the graphic processing unit (GPU) Market growth. Miners need high-end computing processors to build machines that mine bitcoin. As the value of value of cryptocurrency is declining, the demand for GPUs has also decreased to a greater extent.     

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The Latin America graphic processing unit (GPU) market is expected to exhibit the fastest growth rate with a CAGR over 35% from 2018 to 2024. The (graphic processing unit) GPU market growth is attributed to the profound growth of the gaming industry in countries including Brazil and Mexico. A rise in the sales of smartphones, PCs, and tablets is also fueling the gaming industry growth. For instance, in September 2018, AsusTek expanded its manufacturing facility in Brazil to cater to growing consumer demands for dedicated gaming computers. As the region’s gaming industry is booming, the demand for smartphones and other gaming devices that use high-speed graphic processors to maintain peak performance during playing sessions will increase.

The rapidly growing use of gaming devices and the paradigm shift towards online gaming are bound to upsurge the demand for high-end graphic processors to support gaming applications. As per estimates, the gaming sector is anticipated to hold a major share of 34% in the graphic processing unit (GPU) market by 2024.

Some of the most preferred brands that have made a mark in the graphic processing unit (GPU) market include Nvidia, AMD, Intel, Microsoft, Google, IBM, PTC, Qualcomm, and S3 Graphics. GPU chip makers have been making heavy investments in addition to forging partnerships for developing new and better performing products. For instance, in January 2019, Nvidia announced its partnership with luxury carmaker Mercedes-Benz to develop a new automotive AI platform that could effectively offer control to the automaker’s electronic gears equipped in its new car segments.

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About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. He can be contacted at- [email protected] | https://twitter.com/RonakBora26

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