Q2 2024 saw an unexpected growth of GPU shipments despite the market turbulence & is expected to grow at a CAGR of 4.2% from 2024 to 2026.
NVIDIA saw a 2% increase in GPU market share while Intel saw a 2.1% reduction, AMD share static
Jon Peddie Research has just published the latest quarterly GPU shipments report, showing the latest trends in the GPU market. According to the report, the quarterly GPU shipments have increased by 1.8% from Q1 2024 to Q2 2024. This also marks the overall 16% year-over-year shipment increase.
The total PC-based GPU shipments reached 70 million units in Q2 2024, which according to JPR is a surprise since the GPU shipments generally reduce in the second quarter compared to Q1. The 1.8% increase in GPU shipments in Q2 2024 is unusual for the GPU market as the 10-year average has been -7% going from Q1 to Q2. The report says that this isn't due to any seasonal factors.
Dr. Jon Peddie, President of JPR said,
The jump in shipments in Q2 was a welcomed surprise,...The market has been bouncing around for a couple of years now, trying to find a rhythmic buoyancy. With all the turmoil of trade wars, pandemics, political elections, and interest rates, it’s doubtful we’ll see a so-called normalcy for some time.
The Q2 2024 GPU market share shows us that the total year-to-year GPU shipments, including all types of GPUs, have increased by 16%, which includes a 21% increase in desktop graphics and a 13% in notebook graphics.
AMD's share in the overall GPU market in Q2 has increased by 0.2% while NVIDIA has taken the lead with a 2% increase increasing from 18% to 20% of the total market. Intel, on the other hand, saw a 2.1% reduction in its market share going from 66% to 64%.
As for the shipments, AMD increased by 3%, Intel decreased by -1.4% and NVIDIA increased by 10%. NVIDIA did report record gaming revenue in its earning report with solid demand for its GeForce RTX 40 series GPUs.
The PC CPU market has also changed noticeably with a 4.6 % quarter-to-quarter decrease and an overall 10.7% increase year to year. The 2024-2026 forecast suggests a 4.2% compound annual growth rate of 4.2% for the GPUs, reaching 3.3 billion units shipment at the end of the period. It's expected that the dGPUs penetration in the PC will be 23% over the next five years.
Even though the market is volatile at the moment, JPR reports that the semiconductor industry predicts that there will be a 7.6% increase in shipments in the next quarter, which is much higher than the Q2-to-Q3 shipments last year which saw a 7.9% shipment reduction. However, according to the 10-year average, the Q2-to-Q3 shipments saw a growth rate of just 0.9%, and considering the turmoil, it makes it hard to predict the exact growth rate.
About the author: Sarfraz Khan is a hardware reporter with a focus on PC components and the builder community. With years of experience writing about PC hardware and laptops, his work has been featured on several reputable technology publications. Sarfraz's hands-on experience is demonstrated through his first-person accounts of using and comparing different hardware configurations, providing practical and relatable insights for everyday users. His technical analysis is respected by peers in the enthusiast community and has been cited by specialized hardware sites such as Germany's Igor's Lab.
Follow Wccftech on Google to get more of our news coverage in your feeds.
