Pune, India, July 31, 2023 (GLOBE NEWSWIRE) -- According to Fortune Business Insights, global GPU as a Service Market Size was valued at USD 2.39 billion in 2022 and is projected to grow from USD 3.16 billion in 2023 to USD 25.53 billion by 2030, exhibiting a CAGR of 34.8% during the forecast period.
GPU as a Service (GPUaaS) refers to the use of various GPUs in a cloud network when large volumes of data need to be processed for various applications such as deep learning, scientific simulations, financial risk analysis, video rendering, and other activities. A server containing a single GPU is capable of doing the operations of dozens of CPU-based servers. The growing usage of AI, Machine Learning (ML), and other advanced technologies in industry verticals, such as healthcare, finance, and automotive, is expected to drive the GPU as a Service market share. Fortune Business Insights™ displays this information in a report titled, "GPU as a Service Market, 2023-2030."
Key Industry Development-
October 2022: Oracle, a computer technology firm, and NVIDIA Corporation, a supplier of artificial intelligence hardware and software, announced a multi-year partnership deal to overcome complex business problems associated with AI and accelerated computing. The aim of this agreement was to bring the complete NVIDIA accelerated computing stack including GPUs.
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Key Takeaways-
- GPU as a Service Market is expected to flourish & reach USD 25.53 Billion in 2030
- Solutions based on GPUaaS enable both private and commercial users to accelerate computer tasks.
- It is projected that the rising popularity of virtualization and remote work would further support market expansion.
- One of the main issues that is anticipated to impede market expansion throughout the forecast period is data security.
- GPU as a Service Market Size in North America was USD 0.95 Billion 2022
Discover the Leading Players Featured in the Report-
“Alibaba Cloud (China), Vultr (U.S.), Linode LLC. (U.S.), Amazon Web Services, Inc. (U.S.), Google (U.S.), IBM Corporation (U.S.), OVH SAS (Europe), Lambda Labs (U.S.), Hewlett Packard Enterprise Development LP (U.S.), CoreWeave (U.S.)”
Report Scope & Segmentation-
| Report Coverage | Details |
| Forecast Period | 2023 to 2030 |
| Forecast Period 2023 to 2030 CAGR | 34.8% |
| 2030 Value Projection | USD 25.53 Billion |
| Base Year | 2022 |
| GPU as a Service Market Size in 2022 | USD 2.39 Billion |
| Historical Data for | 2019 to 2021 |
| No. of Pages | 150 |
| Segments covered | Deployment, Enterprise, Application , Regional, |
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Drivers and Restraints-
Rising Need for GPU-Intensive Applications and Advanced Technologies to Enhance Market Growth
There has been a significant growth in GPU-based applications, such as 3D graphics rendering, ML, blockchain, scientific computing, cryptocurrency mining, and video editing, which may propel the market growth. GPUaaS solutions can assist individuals and organizations in accelerating their computing jobs, which can boost their adoption. The rising trend of workplace virtualization is further expected to fuel the market growth.
However, growing data security issues can hamper the market progress.
Leading Segments Covered in this Report-
By Deployment Model
- Private GPU Cloud
- Public GPU Cloud
- Hybrid GPU Cloud
By Enterprise Type
- Small and Medium-sized Enterprises
- Large Enterprises
By Application
- Healthcare
- BFSI
- Manufacturing
- IT & Telecommunication
- Automotive
- Others (Aerospace & Defense, Agriculture)
Regional Insights:
North America to Dominate Global Market Due to Growing Adoption of Advanced Tech
North America is expected to lead the market due to the large-scale adoption of advanced technologies, such as AI, and ML in manufacturing, healthcare, BFSI, and aerospace & defense industries. Moreover, the increasing presence of reputed market players will foster the regional market growth.
The market in Asia Pacific is expected to display the fastest CAGR as governments in countries, such as India, China, Australia, and New Zealand, have shown immense interest in AI and have introduced various strategies in this regard.
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Competitive Landscape:
Key Players to Increase their Market Presence with Consistent Developments
The market is highly competitive due to the presence of major companies such as Google, Microsoft, Amazon Web Services, Inc., IBM Corporation, and Vultr. These companies are trying to increase their market presence by using various corporate strategies, such as partnerships, acquisitions, mergers, and product launches
FAQs
How big is the GPU as a Service Market?
GPU as a Service Market size was USD 2.39 Billion in 2022. It is expected to reach USD 25.53 Billion by 2030.
How fast is the GPU as a Service Market growing?
The GPU as a Service Market will exhibit a CAGR of 34.8% during the forecast period, 2023-2030
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