The GPU as a Service market is expected to showcase significant expansion by 2027 owing to escalating demand for smart TV and smartwatches in key regions.
Graphic processor unit or GPU has typically been in demand across niche markets of gamers but are now finding extensive applications across various industry verticals owing to rapid adoption of Big Data analytics, Industrial Internet of Things (IIoT), and AI, as these operations require high-performance GPUs to speed up the process.
According to a 2019 study published in Smart Computing and Communication, GPU as a Service has been shown to resolve various challenges affecting data-driven industries, including financial services, research, and healthcare, to rapidly solve complex problems associated with portfolio optimization, real-time data analytics, and risk management.
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The GPU as a Service (GPUaaS) market has been segmented based on application, product, delivery model, service model, and region. In terms of product, the market has further been classified into service and software. Under software, the market has been divided into modeling and animation, CAD/CAM, digital video, simulation, and imaging.
The simulation segment is projected to grow at around 39.3% CAGR over the analysis timeline owing to increasing adoption of advanced technologies such as augmented reality, 3D printing services, and virtual reality. In 2020, the digital video segment accounted for a market share of about 7.97% and is slated to witness optimistic expansion through 2027. Digital video enables the real-time acquisition, processing, and delivery of high-resolution videos in different video broadcast environments, which is likely to boost segmental growth in the coming years.
The modeling and animation segment is set to reach a substantial valuation by 2027, progressing at a CAGR of approximately 33.9% through the forecast period. This growth is attributed to advancements in 3D technology, which has propelled the adoption of advanced modeling software.
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Under service, the GPU as a Service market has been bifurcated into compliance and security, managed services, and updates and maintenance. The updates and maintenance segment held a notable market share of nearly 22.55% in 2020 and is speculated to showcase a solid growth trajectory over 2021-2027. Companies operating in the GPUaaS market focus on regularly updating their product offerings with the latest improvements, which is estimated to boost product demand through the study period.
In 2020, the compliance and security segment was valued at around USD 97.97 million and is expected to observe robust expansion over the stipulated timeframe. Rising adoption of GPU accelerated cloud-native technologies in the banking sector is likely to drive market growth over 2021-2027.
From the application perspective, the GPU as a Service market has been categorized into healthcare, gaming, real-estate, design & manufacturing, and automotive. The real-estate segment is poised to witness substantial growth at more than 36.1% CAGR through the review period due to the advent of new technologies in the real-estate sector, such as drones and augmented reality. The healthcare segment garnered a market share of nearly 12.68% in 2020 and is foreseen to develop at a considerable pace on account of the widespread application of GPUs for visualizing data for real-time analysis across the healthcare industry.
On the regional front, the LATAM GPU as a Service market is anticipated to see steady growth at a CAGR of above 41.2% over the assessment period driven by surging investments in cloud technology and rising awareness among consumers regarding the benefits of cloud computing in Latin America. Meanwhile, the MEA GPU as a Service market surpassed a valuation of USD 35.44 million in 2020 and is estimated to attain sizable gains through 2027. Prominent real-estate and construction projects across the UAE, Qatar, and Saudi Arabia regions are likely to bolster product uptake in Middle East & Africa in the future.