Home » Global GPU market projected to reach $274 billion by 2029

Global GPU market projected to reach $274 billion by 2029

by Simon Jones Tech Reporter
4th Jun 24 3:47 pm

The increasing utilization of graphic applications in PCs and mobile devices is substantially raising the market value of GPUs.

According to Stocklytics.com, the GPU market value will surpass 274 billion by 2029, representing a 33.2 % CAGR from 2024.

Currently, the GPU market is worth over $65 billion, up from $43 billion in 2023, underscoring the immense growth potential in the industry.

The site’s financial analyst, Edith Reads, said, “The GPU market is witnessing a remarkable bloom, primarily attributed to the high demand for specialized processors adept at managing 2D and 3D graphics.

“The advancement of AI technologies and the thriving gaming industry have also contributed to its  astounding growth. With AI and gaming future projects on full throttle, the GPU market is set for unparalleled success.”

Overview of the GPU market

Mobile GPUs have become the latest in-demand stock, driving the graphics processor market. Consequently, big tech giants like Samsung, Apple, and Xiaomi are battling to outdo each other in 5G smartphone manufacturing, which boosts GPU sales and enhances the market’s reputation.

Furthermore, global 5G subscriptions are set to surge from a mere 12 million in 2019 to over 4.5 billion by 2028, hinting at heightened success for the GPU industry.

PCs and gaming consoles, however, maintain the lead for the most used GPUs, particularly in the Asia Pacific. India, Japan, and South Korea represent the largest market share of the GPU industry.

The persistence in innovating new technologies and expanding the gaming sector in these countries has catalyzed their ascent to the top of the list. For instance, India had well over 490 million recognized gamers in 2023, a figure soon to surge to roughly 500 million by 2025, about 20.7% CAGR.

By 2028, India, Nepal, and Bhutan will lead in 5G mobile subscriptions within their region, signaling that the Asia Pacific will remain the biggest consumer of processors.

The latest developments in the GPU industry

Intel, Nvidia, and AMD are the key players in the current GPU market. These firms have prioritized ingenuity and innovation to consolidate competitive leads for improved revenue sales. In October 2023, AMD released its fastest laptop graphics card, the AMD Radeon RX 7900M, contributing to the chipmaker’s ascent of market share by 2.2%.

Furthermore, in November, Intel collaborated with VMware Inc. to streamline the deployment and optimization of AI-driven applications and services, facilitating access to private AI.

Nvidia also made ground-breaking developments at the start of 2024 with the launch of its GeForce RTX SUPER Series family of GPUs, which supercharges the latest games and forms the core of AI-powered GPUs.

These firms are making substantial strides in the GPU market. However, their sales and innovations are pegged on AI receptiveness and gaming control.

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