GPU as a Service Market To Value USD 65 billion by 2030, Says Global Market Insights Inc.
Major GPU as a service (GPUaaS) market participants include Advanced Micro Devices Inc., Autodesk Inc., Amazon Web Services (AWS), Cogeco Communications Inc., Dassault Systems Inc., IBM Corporation, Intel Corporation, Microsoft Corporation, Nimbix Inc., and Nvidia Corporation.
SELBYVILLE, Del. – The GPUaaS market is expected to reach USD 65 billion by 2030, as reported in a research study by Global Market Insights Inc. The growing adoption of IIoT across various sectors, such as manufacturing, automotive, consumer goods & others, is proliferating the trends of GPUaaS industry.
The increasing demand for cloud-based applications, such as graphic designing, image processing, and 3D visualization, among others, is driving the GPU as a service industry growth. Industry participants offer services with the help of SaaS, PaaS & IaaS models for designing and developing advanced & innovative products. Additionally, supportive government initiatives for smart city development and accelerating digitalization across nations are providing significant growth opportunities.
The managed services segment is predicted to capture 45% of the GPU as a service market share by 2030 led by growing adoption of cloud computing and AI technologies across various industries. Various enterprises are adopting cloud-based managed services for remote monitoring, management of computing infrastructure, and others. Organizations are highly dependent on managed services for the effective maintenance of their business infrastructure. There are several benefits of cloud-based managed services such as seamless management, improved security, scalability & reliability, and others.
The PaaS model segment will grow exponentially in the coming years impelled by increasing adoption of PaaS solutions among SMEs and large enterprises due to its advanced features. Currently, business enterprises are increasingly focusing on reducing capital expenditure and improving the operational efficiency of their business, which can easily be achieved by the adoption of the PaaS model. The PaaS model includes several key features such as pay-per-use, high efficiency, scalability, and others.
The private delivery model segment is projected to register 40% CAGR from 2022 to 2030 driven by growing adoption of the PaaS model and increasing focus to streamline application management. Various business enterprises are widely adopting private delivery models to reduce business & technical risks, thus efficiently running their business operations and minimizing infrastructure complexities. There are several benefits of a private delivery model such as faster time to market, increase agility, reduce cost, and others.
The design & manufacturing application segment of GPU as a service market is estimated to hold a consistent revenue share owing to the growing development of advanced & integrated products. Manufacturing firms are increasingly using high-performance GPUaaS solutions to develop and design advanced & integrated 3D models to attract customers. Moreover, changing consumer preferences toward animated and HD movies are creating ample growth opportunities.
Europe GPU as a Service industry size is poised to witness a substantial growth from 2022 to 20230 due to the increasing adoption of cloud computing technology across the gaming sector. The major players of GPUaaS are expanding their product offerings in the region, thus fueling the market demand.
Companies operating in the GPU as a Service market are focusing on developing advanced cloud-based gaming platforms. For instance, in March 2022, BANDAI NAMCO Europe and Shadow SAS partnered to develop a cloud gaming platform for BANDAI’s gaming titles. The partnership has already launched three games that support near-zero latency and high frame rates within a stable virtual desktop environment.
Some major findings of the GPUaaS market report include:
- The growing demand for crypto mining and cloud gaming has positively reshaped the market.
- Increasing investments in AI and deep learning applications are anticipated to support the market size expansion.
- The Europe GPUaaS market is propelled by the increasing adoption of advanced technologies for product design and development.
- Companies operating in the market are focusing on developing customized products for crypto miners.
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