According to the new market research
report "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", the global GPU database
market size is expected to grow from USD 178 million in 2018 to USD 455 million
by 2023, at a Compound Annual Growth Rate (CAGR) of 20.7% during the forecast
period.
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The
key factors driving the GPU database market include massive data generation
across BFSI, retail, and media and entertainment industries.
CEM application segment to hold the
largest market size in 2018
GPU-accelerated
databases with their brute force computing power can ingest vast amount of data
related to customers from a variety of sources. Enterprises can analyze this
data and gain real-time insights into their consumer’s buying behavior,
understand market dynamics and trends, forecast demand and supply, and identify
service issues and performance bottlenecks in the service chain. This
high-performance computing capability is crucial to customer-focused verticals,
including retail and eCommerce, telecom, and BFSI, where customer experience
can make a significant difference with the highly competitive environment.
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Services segment to grow at a higher CAGR during the forecast period
The GPU database market by component has been
segmented into tools and services. Training and consulting along with support
and maintenance services enable organizations to maintain healthy consumer
relationships. Additionally, the services also assist enterprises in maximizing
their resource usage, effectively executing the activities enhancing business
operations. The need for services, such as support and maintenance, would also
grow, as the adoption of GPU database tools increases.
BFSI vertical to lead the adoption of GPU database during the forecast
period
The BFSI vertical comprising banks, financial
services, and insurance companies are the leading adopters of GPU-accelerated
tools. This vertical generates huge amount of data and has adopted
supercomputers for advanced data analytics since the inception of
high-performance computing technology. GPU-accelerated tools, such as database
and analytics find significance in interactive portfolio risk management, trade
execution, customer analysis, and credit scoring applications. The advent of
GPU-accelerated tools has simplified operations facilitating rapid data
processing and real-time analytics. In the recent past, real-time risk
management analytics is the major challenge for financial organizations. 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 during the forecast
period
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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Major vendors
offering GPU database globally include Kinetica (US), OmniSci (US), SQream
(US), Neo4j (US), NVIDIA (US), Brytlyt (UK), Blazegraph (US), BlazingDB (US),
Zilliz (China), Jedox (Germany), HeteroDB (Japan), H2O.ai (US), FASTDATA.io
(US), Fuzzy Logix (US), Anaconda (US), and Graphistry (US). The study includes
an in-depth competitive analysis of the key players in the GPU database market,
along with their company profiles, recent developments, and key market
strategies.
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