3Q GPU Shipments Up 3.4%

Jon Peddie Research (JPR) reports that the growth of the global PC-based graphics processor unit (GPU) market reached 73.6 million units in Q3 of 2024, and PC CPU shipments increased to 66.5 million units.  

Overall, GPUs will have a compound annual growth rate of -1.9% from 2025 to 2028 and reach an installed base of almost 3 billion units at the end of the forecast period. Over the next four years, the penetration of discrete GPUs (dGPUs) in PCs will be 17%.

Year-to-year total GPU shipments, including all platforms and types of GPUs, increased by 2.4%, desktop graphics decreased by -5.6%, and notebooks increased by 5.9%, JPR notes.

As indicated in the following chart, AMD's overall GPU market share increased by 0.8% from last quarter, Intel's market share rose by 1.1%, and NVIDIA's market share decreased by -1.9%.

Quarterly market share percentages based on millions of units. Image courtesy of JPR.

Overall, CPU unit shipments increased by 12% from last quarter; AMD's increased by 15%, and Intel's decreased by -12%.

• The GPU's overall attach rate (which includes integrated and discrete GPUs, desktops, notebooks, and workstations) in PCs for the quarter dropped to 111%, down -9.5% from last quarter.
• The overall PC CPU market increased by 7.8% year to year and 12% quarter to quarter.

The third quarter is traditionally higher than the previous quarter. This quarter's GPU shipments were up from the previous quarter and below the 10-year average of 6.2%. 

“A surge led to the jump in overall GPU and CPU shipments in Q3,” says Dr. Jon Peddie, president of Jon Peddie Research. “AMD and Intel released new CPUs, and there was some pent-up demand for them. However, looking forward, we think that if the proposed tariffs are imposed, the PC market will suffer a recession due to increased prices and unmatched increases in income.”

GPUs and CPUs are leading indicators of the PC market because they go into a system while it’s being built, before the suppliers ship the PC. However, most semiconductor vendors are guiding up for the next quarter an average of 7.6%. Last quarter, they guided -7.9%, which was too low. The 10-year average for Q2-to-Q3 shipments is 0.9%, so happy days may not be here just yet, but given the turmoil, it’s hard to predict.

The new Q3 2024 edition of Market Watch contains the above information and more. JPR has changed the report's format from a heavily narrated version to a heavily charted version. JPR has also added server and client CPU shipment data back to Q1’21 and GPU-compute (which includes AI GPUs) shipment data back to Q1’21 for AMD, Intel, and NVIDIA. The pivot data array has also been expanded to include those devices.

Pricing and Availability

JPR’s Market Watch is available in an electronic edition, and a single issue sells for $3,000. This report includes an Excel workbook with the data used to create the charts, the charts, and supplemental information. The annual subscription price for JPR’s Market Watch is $6,000 and includes four quarterly issues. Full subscribers to JPR services receive TechWatch (the company’s exclusive access to daily news).

Sources: Press materials received from the company and additional information gleaned from the company’s website.