In a recent published report, Kenneth Research has updated the market report for GPU database Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for GPU database Market products.
Moreover, increase in ICT spending around the globe for hardware, software, services, new technologies and telecom among others is also anticipated to contribute to the growth of the market in the coming years. The spending on new technologies recorded around USD 0.6 million in 2018 and is further estimated to reach close to USD 1.3 million by 2023. The total ICT spending around the globe further recorded close to USD 5 million in 2019 and is further projected to touch USD 6 million by 2023.
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Market Synopsis
The global GPU database market was valued at USD 195.3 million in 2017 and is expected to reach USD 562.3 million by the end of forecast period with a CAGR of 19.28%.With the large volumes of data generation, there is increasing need for high performance computing for running the applications efficiently. This has created the demand for GPU (graphics processing unit) database. The GPU, a programmable processor, helps in providing high resolution images and videos. GPUs have parallel processing capabilities which can process enormous data in a very less timeframe. GPU databases use GPUs for performing database operations. These are used for big data, artificial intelligence (AI), and machine learning.
The Final Report will cover the impact analysis of COVID-19 on this industry:
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CPUs are not applicable for deep learning tasks as they require a number of cores for running simple calculations in parallel which tends to be cost prohibitive. There is a high demand for GPU as it solves the challenge of parallel processing and is also cost efficient. Other factors such as need for cyber security, fraud detection and real-time data insights are also boosting up the growth of this market. GPU databases makes it easy to work with large or extremely fast data sets which are generated from sources such as IoT and business transactions. The advanced computing of GPU eases the process of dealing with complex queries.
The market players are focusing on collaboration and product launches to tap the growing demand of GPU databases market. For instance, in October 2018, NVIDIA introduced an open source GPU-acceleration software platform for machine learning and data science. It provides data scientists with tools to run data science pipeline on GPUs. Also, in April 2018, OmniSci launched a SaaS offering of GPU-accelerated analytics called MapD Cloud. It helps its users to access the fastest open source SQL engine and visual analytics platform.
Segmentation
By component, the market is segmented into tools and services. The tools segment is further bifurcated into GPU-accelerated databases and GPU-accelerated analytics. The services segment is further segmented into consulting services, and support and maintenance services.
By deployment, GPU database is segmented into on-premise and cloud. By application, the market is segmented into governance, risk, and compliance, threat intelligence, customer experience management, fraud detection and prevention, predictive maintenance, supply chain management, and others. By vertical, the market is segmented into BFSI, retail and ecommerce, healthcare, IT and telecommunications, transportation and logistics, government, aerospace and defense, and others.
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Regional analysis
The global market for GPU database is estimated to grow at a significant rate during the forecast period from 2018 to 2023. The geographical analysis of GPU database market is studied for North America, Europe, Asia-Pacific, and the rest of the world (including the Middle East, Africa, and Latin America). Among the regions mentioned, North America is expected to dominate the GPU database market. Increasing need for analysis of large volumes of data along with rapid growth of artificial intelligence and machine learning in this region contributes to its largest share. Moreover, presence of leading market players such as Nvidia, Kinetica, and Omnisci is boosting the growth of GPU database market in this region. North America is followed by Europe in the GPU database market. Asia-Pacific region is expected to grow at the highest CAGR during the forecast period.
Global GPU Database Market, USD Million
Source: MRFR Analysis
The global GPU database market was valued at USD 195.3 million in 2017 and is expected to reach USD 562.3 million by the end of forecast period with a CAGR of 19.28%.
Key players
The key players in the GPU database market are identified across all the major regions based on their country of origin, presence across different regions, recent key developments, product diversification, and industry expertise. Some of them are – Nvidia Corporation (US), Kinetica DB Inc. (US), OmniSci, Inc. (US), Neo4j, Inc. (US), Brytlyt (UK), BlazingDB, Inc. (US), Zilliz (China), SQream (US), Jedox AG (Germany), and HeteroDB, Inc. (Japan). These players contribute a major share in the growth of GPU database market.
Apart from the top key players, there are other players that contribute to the market growth. These include Blazegraph (US), H2O.ai (US), FASTDATA.io (US), Fuzzy Logix Inc. (US), and Graphistry (US), and others.
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Intended Audience
GPU database solution vendors
Technology Investors
Research and Consultancy firms
Technology Solution Providers
IT Service Providers
Cloud Service Providers
Government organizations and agencies
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