Immense popularity of GPU databases, as well as tools in insurance firms, banks, and various other financial institutions, has added to the overall revenue in recent years. With the surge of supercomputer, the demand for GPU database has risen considerably across the globe, as it helps offer effective data analytics as well as accurate outcomes.
Market Research Future (MRFR) says in its latest report that the global market for GPU database was worth $195.3 million in 2017 and can touch a valuation of $562.3 million by 2023. MRFR also suggests that the market can potentially achieve a phenomenal growth rate of 19.28% during the forecast period (2018-2023).
Primary Drivers and Top Challenges
The Graphics Processing Unit (GPU) Database Market is mostly driven by the enormous data generation across industries like retail, media & entertainment as well as BFSI among others. On top of this, extensive use of GPU database for governance, risk and compliance (GRC), threat intelligence, fraud identification & prevention, supply chain management (SCM0, and CEM can also benefit the global market in the near future.
Taking a close look into benefits, GPU-accelerated tools help ease operations and facilitates fast-paced data processing operations along with real-time analytics. These tools are used in firms to conduct risky computations along with simulations in real-time. Parallel computing using GPU applications can help firms analyze irregularities in a variety of transaction streams as well as log data. Such factors are deemed to elevate the growth trajectory of Graphics Processing Unit (GPU) Database Market in the following years.
The market for GPU database has been extensively analyzed on the basis of segments like component, deployment and application.
Component-based market segments are tools and services. The tools segment can be divided into GPU-accelerated analytics and GPU-accelerated databases. The services segment has been considered for support and maintenance services and consulting services.
Depending on the deployment segment, the Graphics Processing Unit (GPU) Database Market caters to on-premise and cloud.
The market, given the application segment, has been segmented into risk, and compliance, governance, supply chain management, customer experience management, threat intelligence, predictive maintenance, fraud detection and prevention, and others.
With regard to vertical, the market segments identified in the report are retail and ecommerce, aerospace and defense, BFSI, IT, telecommunications, healthcare, government, transportation and logistics, and others.
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Significant vendors in the global Graphics Processing Unit (GPU) Database Market include Zilliz (China), OmniSci, Inc. (US), Jedox AG (Germany), BlazingDB, Inc. (US), Nvidia Corporation (US), SQream (US), Kinetica DB Inc. (US), Neo4j, Inc. (US), Zilliz (China), Brytlyt (UK), HeteroDB, Inc. (Japan), and others.
Other than the significant vendors in the market, some other players are Fuzzy Logix Inc. (US), FASTDATA.io (US), Graphistry (US) Blazegraph (US), H2O.ai (US), to name a few.
The geographical categorization of the worldwide Graphics Processing Unit (GPU) Database Market covers Europe, North America, Asia Pacific (APAC), and the rest of the world (RoW), which formed by regions like Africa, Latin America and the Middle East.
North America has the highest potential to achieve the top position in the global Graphics Processing Unit (GPU) Database Market, on account of the region’s willingness to adopt latest technologies like GPU database tools. The region has also noted a surge in the number of prominent initiatives on the part of the industry vendors, such as partnerships with various technology companies that provide rapid analytics as well as data processing solutions. The massive pool of GPU database vendors in the United States (U.S.) combined with the ramped up awareness about these solutions can help the regional market retain its supremacy even during the forecast period.
Europe is the second most profitable market for GPU database, given the early adoption of GPU-accelerated tools and the high number of initiatives being undertaken by players in order to expand their customer base and elevate their position. Countries like Germany and the United Kingdom (UK) are noted to be the primary markets for GPU Database in the region.
The Graphics Processing Unit (GPU) Database Market in APAC shows high promise and is estimated to attain the fastest growth rate in the coming years, as the region is frequently deploying supercomputers for weather forecasting and other activities. The regional market also gains from the surging use of the latest technologies within the banking sectors in India, China and Japan paired with the rising need for secured solutions across financial institutions.