Report : Middle East & Africa GPU Database Market Forecast to 2028 - COVID-19 Impact and Regional Analysis by Component (Tool and Service), Deployment (On-Premise and Cloud based), Application (Fraud Detection & Prevention, Governance Risk & Compliance (GRC), Customer Experience Management, Predictive Maintenance, Supply Chain Management, Threat Intelligence, and Others), and Industry Vertical (BFSI, IT & Telecom, Retail & E-Commerce, Healthcare, Transportation & Logistics, Government & Defense, and Others)
At 17.1% CAGR, the MEA GPU Database Market is speculated to be worth US$ 53.75 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the MEA GPU database market was valued at US$ 20.83 million in 2022 and is expected to reach US$ 53.75 million by 2028, registering a CAGR of 17.1% from 2022 to 2028. Strong ecosystem support and increase in customer adoption and the increasing preference of enterprises toward ai and machine learning facilitated workloads are the critical factors attributed to the market expansion.
The strong ecosystem support to robust solutions development, many companies are turning to NVIDIA GPUs to accelerate their journey toward AI. In the past few years, GPU-accelerated ecosystem partners have shown exponential growth. There are more than 3,200 startups in NVIDIA’s Inception startup incubation program, nearly double during the pandemic times. Anaconda, a GPU-accelerated python data science platform, has 6 million developers and recently announced the focus on GPUs and container usage. Also, in August 2022, Anaconda announced a strategic cloud partnership with oracle to enable seamless, secure open-source innovation in the cloud FastData, the first GPU-accelerated streaming solution, secured US$5 million to accelerate the adoption of its high-performance computing software. The growing adoption of GPU database across various applications in every vertical of industries is trending the market dynamics. The leading consumer internet companies, automakers, and the leading healthcare industry have all adopted GPU technologies. Thus, increasing adoption across various industries is further propelling the market growth over the forecast period.
On the contrary, limited capabilities of available GPU databases to perform crucial operations in analytics use cases hurdles the growth of MEA GPU database market.
- Based on component, the MEA GPU database market is segmented into tool and services segment. The tool segment held 74.7% market share in 2022, amassing US$ 15.56 million. It is projected to garner US$ 38.61 million by 2028 to expand at 16.4% CAGR during 2022–2028.
- Based on deployment, the MEA GPU database market is segmented cloud based and on-premise. The on-premise segment held 63.2% market share in 2022, amassing US$ 13.16 million. It is projected to garner US$ 32.05 million by 2028 to expand at 16.0% CAGR during 2022–2028.
- Based on application, the MEA GPU database market is segmented into fraud detection and prevention, governance risk & compliance (GRC), customer experience management, predictive maintenance, supply chain management, threat intelligence, and others. The customer experience management segment held 28.4% market share in 2022, amassing US$ 5.91 million. It is projected to garner US$ 16.18 million by 2028 to expand at 18.3% CAGR during 2022–2028.
- Based on industry vertical, the MEA GPU database market is segmented into BFSI, IT & telecom, retail & e-commerce, healthcare, transportation & logistics, government & defense, and others. The IT & telecom segment held 27.0% market share in 2022, amassing US$ 5.63 million. It is projected to garner US$ 13.97 million by 2028 to expand at 16.4% CAGR during 2022–2028.
- Based on country, the MEA GPU database market is segmented into South Africa, Saudi Arabia, the UAE, and Rest of MEA. Our regional analysis states that the UAE captured 36.6% market share in 2022. It was assessed at US$ 7.63 million in 2022 and is likely to hit US$ 21.03 million by 2028, exhibiting a CAGR of 18.4% during the forecast period.
Key players dominating the MEA GPU database market are Brytlyt; H2O.ai; Jedox; Nvidia Corporation; and SQream Technologies, among others.
- In 2022, H2o.ai has launched its AI Hybrid Cloud, which allows users to manage an AI platform on-premise and in the cloud. With the new features, the company has launched a fully-managed cloud and named it simply “H2O AI Cloud,” which helps the app developers and data to rapidly build AI models and apps by providing end-to-end solutions for the infrastructure.
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