- Demand for GPU is on the rise owing to its superior functional characteristics.
- Systems that run machine learning, artificial intelligence and big data require GPU assistance.
- Increased demand for real-time data insights and growing need for cyber security will play an important role in propelling the market.
The global Graphics Processing Unit (GPU) Database Market will surpass a valuation of $562.3 Mn by the year 2023. The market is expected to exhibit a CAGR of 19.28% during the forecast period (2018-2023). New applications require high performance computing capacity, which is having a notable influence on the Graphics Processing Unit Database Market.
GPU is programmable processor that helps in rendering large sized files (images, videos, multi-media content, etc.) Demand for GPU is on the rise owing to its superior functional characteristics. GPU can process large volumes of data at high speeds. Systems that run machine learning, artificial intelligence and big data require GPU assistance.
GPU is also being used in resolving issue of parallel processing as they are cost-efficient and more viable as compared other alternative technologies that are available. GPU databases reduces the complexities of processing large volumes of the data that is sourced from business transactions and IoT. The latest versions of GPU database can tackle highly complex queries, which is difficult to achieve with conventional database systems.
Some of the other factors that are expected to influence the global GPU market in the forthcoming years include increased demand for real-time data insights and growing need for cyber security. These two factors will play an important role in propelling the market. With increased potency of cyberattacks, the urgency to make systems more robust grows.
Key players operation in the Graphics Processing Unit Database Market are Kinetica DB Inc. (US), Neo4j Inc. (US), BlazingDB Inc. (US), SQream (US), HeteroDB Inc. (Japan), Nvidia Corporation (US), Zilliz (China), OmniSci Inc. (US), Jedox AG (Germany), H2O.ai (US), Fuzzy Logix Inc. (US), Blazegraph (US), Graphistry (US), FASTDATA.io (US), and Brytlyt (UK).
On the basis of component, the market has been segmented into services and tools. The services segment is further segmented into support and maintenance services and consulting services. The tools segment is further bifurcated into GPU-accelerated analytics and GPU-accelerated databases. On the basis of deployment, the market has been segmented into cloud and on-premise.
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On the basis of vertical, the market has been segmented into IT and telecommunications, government, retail and ecommerce, aerospace and defense, BFSI, healthcare, transportation and logistics and others.
On the basis of application, the market has been segmented into risk and compliance, governance, threat intelligence, fraud detection and prevention, supply chain management, customer experience management, predictive maintenance and others
The regions covered in the report include North America, the Middle East & Africa (MEA), Europe, Asia Pacific (APAC), and Latin America. Among these, North America makes the largest contribution to Graphics Processing Unit Database Market in terms of revenue.
GPU database in becoming increasingly common among businesses that offer date analysis services. Countries such as the U.S. and Canada represent massive pool of internet savvy consumers, which characterizes the increasing volume of unstructured data.
In the U.S., Enterprises both medium and large are inclining towards technologies such as machine learning and artificial intelligence, which is creating application opportunities for GPU database. At the same time, North America is home of some of prominent market players such as Kinetica, Omnisci and Nvidia is benefiting the market in the region. In terms of revenue, Europe holds the second position. The market in Europe is expected to witness a reasonable growth over the several years. Meanwhile, in APAC, the market is expected to witness a relatively higher CAGR during the forecast period.