GPU-accelerated computing has grown into a mainstream movement, thanks to its computational power. It’s overtaken the CPU market for its ability to ingest vast amounts of data related to customers from a variety of sources. The key factors driving the GPU database market include massive data generation across BFSI, retail, and media and entertainment industries.
Backing up this claim is a new market research report published by MarketsandMarkets. GPU Database Market by Application (GRC, Threat Intelligence, CEM, Fraud Detection and Prevention, SCM), Tools (GPU-accelerated Databases and GPU-accelerated Analytics), Deployment Model, Vertical, and Region – Global Forecast to 2023 predicts that the global GPU database market size will grow from $178 million in 2018 to $455 million by 2023, at a Compound Annual Growth Rate of 20.7% during the forecast period.
Here are some key findings from the report:
BFSI vertical to lead adoption of GPU database
According to the report, the BFSI vertical comprising banks, financial services, and insurance companies will by the leading early adopters of GPU-accelerated tools. GPU-accelerated tools, such as database and analytics find significance in interactive portfolio risk management, trade execution, customer analysis, and credit scoring applications. With the emergence of GPU-accelerated tools, organizations able to perform risk calculations and simulations in real time are using up-to-the-moment data. Parallel computing with the GPU applications enable organizations to monitor for anomalies in diverse streams of transactions and log data.
North America to hold the largest market size
North America is expected to account for the highest market share, due to the early adoption of GPU- accelerated tools as well as prominent initiatives taken by the industry players in the form of partnerships with different technology players to offer rapid analytics and data processing solutions. The major presence of GPU database vendors as well as the widespread awareness about these solutions would continue to help the region sustain its largest market share during the forecast period.
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