Graphics processing units database market is estimated to grow with a high CAGR during the forecast period, i.e., 2021-2029. Extensive research associated with graphics processing units database in western countries, along with the availability of open-source solutions and their growing applications areas are expected to fuel the progress of this market. The growth of the market can also be attributed to factors such as the creastion of regulations on a global level that are expected to create demand for solutions providing superior performance.
The market is segmented based on component into tools, applications and services out of which, the tools segment is anticipated to grab the largest share by the end of 2029 on account of availability of open-source solutions and their growing applications areas.
Moreover, the GPU database tools segment is further bifurcated into GPU-accelerated databases and GPU-accelerated analytics. Vendors in the GPU database market are offering various GPU-accelerated databases and analytics tools to cater to the various data and analytics requirements of organizations across business lines and applications, which is also projected to contribute to the growth of the segment during the forecast period.
On the basis of application, the customer experience management segment is estimated to hold the largest market share. GPU-accelerated databases with their brute force computing power can ingest vast amount of data related to customers from a variety of sources. The high-performance computing capability is crucial to customer-focused verticals. This is considered to drive growth to the segment in the future.
Based on industry vertical, supply chain management segment is estimated to grow at the highest CAGR during the forecast period. The GPU databases can provide a significant advantage to enterprises by facilitating their supply chain operations and enabling them to optimize it by providing real-time, location-based insights in the entire supply chain. CLICK TO DOWNLOAD SAMPLE REPORT
Geographically, the market is segmented into North America, Latin America, Europe, Asia Pacific and the Middle East & Africa region. The market in North America is predicted to grow at the highest CAGR over the forecast period owing to the early adoption of GPU-accelerated solutions as well as initiatives taken by industry players in the form of partnerships with technology players to offer rapid analytics and data processing solutions. The U.S. and Canada are 2 prominent markets in North America, which are witnessing healthy adoption of such GPU- accelerated tools across industry verticals. Moreover, presence of leading market players is boosting the growth of GPU database market in this region. Moreover, Asia Pacific, followed by North America, is expected to grow at the highest CAGR during the forecast period owing to the adoption of emerging technologies including big data in the region.
The graphics processing units database market is further classified on the basis of region as follows:
Our in-depth analysis of the graphics processing units database market includes the following segments:
FREQUENTLY ASKED QUESTIONS
Availability of open-source solutions and their growing applications areas and the regulations creating demand for solutions that provide performance-at-scale are the key factors driving market growth.
The market is anticipated to attain a high CAGR over the forecast period, i.e., 2021-2029.
Lack of adequate data security measures and limited capabilities of available GPU databases to perform crucial operations in analytics use cases are estimated to hamper market growth.
The market in Asia Pacific region will provide ample growth opportunities owing to the early adoption of GPU-accelerated solutions as well as initiatives taken by industry players in the form of partnerships.
The major players dominating the market are Nvidia Corporation, Kinetica DB, Inc. OmniSci, Inc. BlazingSQL, Inc. Jedox SQream DB Fuzzy Logix among others.
The company profiles are selected on the basis of revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
The market is segmented by component, application, industrial vertical, deployment and region.
With respect to component, the tools segment is anticipated to grab the largest share by the end of 202o on account of availability of open-source solutions and their growing applications areas.
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