The Global GPU Database Services market is forecast to reach USD 1,357.4 Million by 2028, according to a new report by Reports and Data. A GPU Database Services uses graphics processing units to perform Database Services operations. A GPU is a programmable processor designed to render high-resolution images and video quickly. Because GPUs can perform parallel operations on multiple sets of data, they are now commonly used for non-graphical uses. A GPU Database Services uses GPU computation power to analyze massive amounts of data and return results in milliseconds.
The market for GPU Database Services is influenced by the massive data generation across BFSI, retail, transportation and logistics, telecommunications, and IT and media and entertainment industry verticals.
The above-mentioned factors collectively create opportunities for market growth, while factors such as lack of understanding of the advantages of GPU Database Services pose limitations in the market. However, each factor would have a definite impact on the market during the forecast period. Consistent advancements in the GPU market owing to innovative efforts have enhanced the efficiency of the GPU Database Services market.
North America is forecasted to hold the largest market share during the forecast period. This is because the region has adopted the GPU-accelerated solutions earlier than any other regions. Furthermore, initiatives taken by key market players in the form of partnerships with technology players to provide rapid analytics and data processing solutions are affecting the market for GPU Database Services in the region positively.
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- Real-time data analytics: The need for real-time data analysis is a significant driver for the adoption of in-memory GPU Database Servicess. Compared to disk-based Database Servicess, in-memory Database Servicess offer faster data access and processing by storing data in the computer’s main memory. This capability is particularly valuable for applications such as fraud detection, recommendation engines, and real-time analytics.
- Faster data access and processing: In-memory Database Servicess excel at processing large volumes of data in real time. By leveraging the computational power of GPUs (Graphics Processing Units), these Database Servicess can accelerate data processing tasks, enabling businesses to derive insights and make decisions more quickly.
- Cloud-based deployment: The demand for cloud-based GPU Database Servicess is increasing due to several advantages they offer. Cloud-based Database Servicess are scalable, allowing businesses to easily expand their data storage and processing capabilities as needed. They also provide flexibility in terms of accessibility, as data can be accessed from anywhere with an internet connection. Additionally, cloud-based solutions can be cost-effective, as they eliminate the need for businesses to invest in and maintain their own hardware infrastructure.
- Growing adoption of cloud computing: The overall demand for cloud-based services, including Database Servicess, is on the rise as cloud computing becomes more widely adopted across various industries. The scalability and flexibility offered by cloud-based GPU Database Servicess make them a favorable choice for businesses that need to analyze large volumes of data without the burden of managing infrastructure on-site.
Overall, the combination of real-time data analytics requirements and the benefits of in-memory processing and cloud-based deployment is driving the popularity and expansion of in-memory GPU Database Servicess and cloud-based GPU Database Servicess in the market.
Some leading companies operating in the global GPU Database Services market.
Nvidia, Jedox, Blazegraph, Blazingdb, Zilliz, Kinetica, Sqream, Omnisci, Brytlyt, and Heterodb, among others.
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Further key findings from the report suggest
- The Customer Experience Management application segment held the largest market share of 27.4% in the year 2020. Customer experience management is the collection of processes an organization uses to track and organize every interaction between a client and the organization. CEM aims to upgrade collaborations from the client’s viewpoint and improve customer loyalty.
- Services segment held a larger market share of 63.3% in the year 2020. GPU Database Services Services include GPU-accelerated Database Servicess and GPU-accelerated Analytics. Vendors in the GPU Database Services market are offering various GPU-accelerated analytics and Database Services Services to cater various data and analytics requirements across various organizations.
- The on-premise segment held a larger market share of 60.3% in the year 2020. The on-premise solution empowers companies by giving them ownership of their data and adhere to external compliance requirements. The on-premise GPU Database Services solution offers flexibility and customization as per one organization’s requirement and data security & privacy.
- North America held the largest market share of 34.2% in the year 2020. This is due to the presence of established market players such as NVIDIA, Kinetica, SQream, Neo4j, and Blazegraph in the region. The US and Canada are major contributors to the GPU Database Services market in the region.
The global market is further segmentedinto type and application:
Component Outlook (Revenue, USD Billion; 2020-2028)
- Services
- Services
Deployment Type Outlook (Revenue, USD Billion; 2020-2028)
- On-Premise
- Cloud
Applications Outlook (Revenue, USD Billion; 2020-2028)
- Governance, Risk, and Compliance
- Threat Intelligence
- Customer Experience Management
- Fraud Detection and Prevention
- Supply Chain Management
- Others
End-Use Industry Outlook (Revenue, USD Billion; 2020-2028)
- BFSI
- Retail and Ecommerce
- Telecommunications and IT
- Transportation and Logistics
- Others
Regional analysis provides insights into key trends and demands in each major country that can affect market growth in the region.
- North America (U.S., Canada, Mexico)
- Europe (Germany, U.K., Italy, France, BENELUX, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Rest of APAC)
- Latin America (Brazil, Rest of LATAM)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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