According to the latest quarterly report from research company Jon Peddie Research (JPR) regarding graphics processing unit (GPU) shipments, the global market showed growth of 1.8% in the second quarter of 2024. Nvidia strengthened its position, increasing its share by 2%. Despite global economic difficulties, the GPU market remains resilient and even shows potential for further growth, as confirmed by analysts’ forecasts for the coming years.
Thus, in the second quarter of 2024, about 70 million GPUs were shipped, which indicates a noticeable revival of the market. Particularly impressive is the growth in shipments of processors for desktop computers (PCs) – +11% year on year. It is projected to grow at a compound annual growth rate of 4.2% between 2024 and 2026, and by the end of 2026, the total number of GPUs in use could reach an impressive 3.3 billion units.
An important point remains JPR’s predicted retention of a significant share of discrete graphics cards in PCs. They estimate that over the next five years, about 23% of PCs will be equipped with discrete graphics cards. Annual growth in GPU shipments, covering all platforms and types of processors, was 16%. At the same time, there are different dynamics in different market segments: for example, shipments of GPUs for PCs increased by 21%, while for laptops – only by 13%.
Dr. Jon Peddie, President of JPR, commented: “The jump in shipments in the second quarter was a pleasant surprise for us. The market has been experiencing fluctuations for several years, trying to find rhythm and stability. Given all the current turmoil – from trade wars to the pandemic and political crises – it is unlikely to expect so-called normality in the near future.”
The distribution of GPU market shares among the major players has also undergone some changes. Over three months, AMD managed to slightly increase its share by 0.2%. Against this background, Nvidia strengthened its position, adding 2%, while Intel’s share decreased by 2.1%. It’s important to note that this data takes into account both discrete and integrated GPUs, which explains Intel’s stable position in the market as a whole.
JPR also presented a number of interesting statistics characterizing the current state of the industry:
The data highlights complex and controversial market dynamics, with quarterly fluctuations intertwined with an overall upward trend. Short-term economic difficulties may explain the quarterly decline in shipments, but year-over-year growth shows a longer-term positive trend for the GPU industry.
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