According to our latest market study, titled "GPU Database Market Forecast to 2028 - COVID-19 Impact and Global Analysis - by Component, Deployment, Application, and Industry Vertical," the GPU database market size is projected to grow from US$ 388.81 million in 2022 to US$ 1,112.11 million by 2028. It is estimated to grow at a CAGR of 19.1% from 2022 to 2028.
The demand for open-source GPU database solutions is accelerating the growth of the market, as it offers increased flexibility, security, and cost savings for analytical applications. The availability of specific GPU solutions tailored for various industries also presents opportunities for adopting database solutions. Nvidia's release of AI Enterprise 2.1, which supports open-source solutions, has further reinforced the support for open-source in the market.
Additionally, the adoption of GPU databases across various applications is contributing to market growth. Uber's introduction of AresDB in 2019, an open-source real-time analytics engine leveraging GPUs for analysis at scale, and Cloudera's integration of RAPIDS Accelerator into Apache Spark 3.0 in 2021 are examples of the growing adoption of GPU databases in various applications. These trends are expected to continue driving the GPU database market growth over the forecast period.
The big data revolution in the US industry continues to gain momentum, with various sectors such as BFSI, IT and telecom, retail and e-commerce, healthcare, transportation, and logistics benefiting from the vast information supply. Pharmaceutical companies have accumulated research and development data in medical databases in recent years, while payors and providers have digitized patient records. Additionally, the US federal government and other public stakeholders have opened up their vast stores of healthcare knowledge, including data from clinical trials and information on patients covered under general insurance programs. Technological advancements have made it easier to collect and analyze information from multiple sources, particularly in healthcare, where data for a single patient may come from various payors, hospitals, laboratories, and physician offices. Due to the increasing data generation across the US healthcare sector, there is a rising need for GPU tools for efficient data management, resulting in the US dominating the global GPU database market share.
North America leads in the adoption and development of IoT, AI, and ML, and has the highest acceptance rate of these technologies. The COVID-19 pandemic had a significant impact on the GPU database market in North America, particularly in data-intensive industries where there was a need to increase operational speed. The shift in daily activities, such as virtual collaboration, video editing, graphics, and online gaming, has further accelerated the adoption of GPU databases in the region. The US and Canada dominate the IT industry, with a strong focus on integrating AI, IoT, and robotics into the manufacturing sectors, creating a high demand for GPU databases. The region's wide-scale internet usage and increase in data generation have also benefited the GPU database business. Major GPU database providers are present in the region, making it a major adopter of GPU database solutions and services. For instance, in August 2022, Intel launched Intel ARC A380, the first commercial dedicated GPU in the US market.
The GPU database market report provides a detailed analysis of the market and helps key players in strategizing for growth in the coming years. It also forecasts upcoming trends and developments in the GPU database market.
Key Findings of Study:
Based on the GPU database market report, the GPU database market is segmented based on component, deployment, application, industry vertical, and geography. Based on components, the GPU database market GPU is bifurcated into tools and Services. In terms of deployment, the GPU database market is segmented into on-premises and cloud-based. Based on application, the GPU database market is segmented into fraud detection & prevention, governance risk & compliance (GRC), customer experience management, predictive maintenance, supply chain management, threat intelligence, and others. Based on industry vertical, the GPU database market is segmented into BFSI, IT & telecom, retail & e-commerce, healthcare, transportation & logistics, government & defense, and others. Based on geography, the GPU database market is segmented into North America (the US, Canada, and Mexico), Europe (Germany, France, Italy, UK, Russia, and the Rest of Europe), and Asia Pacific (Australia, China, India, Japan, South Korea, and the Rest of APAC), the Middle East & Africa (South Africa, Saudi Arabia, the UAE, and the Rest of MEA), and South America and Central America (Brazil, Argentina, and the Rest of SAM).
Contact Us
Contact Person: Sameer Joshi
Phone: +1-646-491-9876
Email Id: sales@premiummarketinsights.com