Graphics Card Market Size, Share, Growth Analysis, By Type(Dedicated, integrated, and hybrid), By Device(Computer, tablet, smartphone, gaming console), By Industry vertical(Electronics, IT & telecommunication, defense & intelligence, media & entertainment), By Region - Industry Forecast 2024-2031

Graphics Card Market size was valued at USD 44.49 billion in 2022 and is poised to grow from USD 59.35 billion in 2023 to USD 595.20 billion by 2031, growing at a CAGR of 33.4% in the forecast period (2024-2031).

The market for graphics cards has been experiencing significant and steady growth across various sectors in recent years. One of the key driving forces behind this growth is the increasing demand from the gaming industry, fueled by the rising popularity of video games, esports, and virtual reality. Gamers are constantly seeking enhanced visual experiences, which has led to a greater need for high-performance graphics cards that can deliver realistic graphics and smooth gameplay. Additionally, the industrial sector has been a major contributor to the market growth, with the adoption of Graphics Processing Units (GPUs) in applications such as artificial intelligence, machine learning, and autonomous driving. GPUs play a crucial role in accelerating complex computations required in these fields, enabling faster data processing, pattern recognition, and decision-making. Furthermore, the healthcare sector has emerged as a promising market for graphics cards, driven by the growing implementation of medical imaging and analysis software. These software applications require powerful GPUs to handle large datasets and perform real-time image rendering and analysis.

Moreover, graphics chipsets have found applications in industries like automotive and aerospace, where simulation and modeling demand high-performance computing capabilities. The use of GPUs enables these industries to simulate real-world scenarios, optimize designs, and enhance overall performance. Another significant factor driving the demand for graphics cards is their utilization in cryptocurrency mining. The computational power of GPUs is harnessed for mining cryptocurrencies, driving the need for high-performance graphics cards in this sector. Furthermore, machine learning applications heavily rely on GPUs for training and inference tasks, as they can process large amounts of data in parallel and accelerate the training process. Graphics cards equipped with advanced features such as real-time ray tracing and artificial intelligence capabilities are increasingly sought-after, as these features offer improved visual realism and enable more efficient computation in various industries. Overall, the graphics card market is witnessing robust expansion due to the increasing adoption and diverse applications of GPUs across multiple sectors, paving the way for further advancements in graphics processing technology.

US Graphics Card Market is poised to grow at sustainable CAGR for the next forecast year