Quarterly GPU shipments Were Down—Has Seasonality Returned?

The growth of the global PC-based graphics processor unit (GPU) market reached 70 million units in Q12024, and PC CPU shipments increased a 33% year over year, the second year-over-year increase in two and a half decades, reports Jon Peddie Research.

Overall, GPUs will have a compound annual growth rate of 3.6% during 2024–2026 and reach an installed base of almost 3 billion units at the end of the forecast period. Over the next 5 years, the penetration of discrete GPUs (dGPUs) in the PC will be 22%.

Year-to-year total GPU shipments, which include all platforms and all types of GPUs, increased by 28%, desktop graphics decreased by -7%, and notebooks increased by 38%.

AMD's overall market share decreased by -0.7% from last quarter, Intel's market share increased 0.3%, and NVIDIA's market share increased by 0.4%, as indicated in the following chart.

Overall, GPU unit shipments decreased by -9.9% from last quarter; AMD's decreased by -13.6%, Intel's decreased by -9.6%, and NVIDIA's decreased by -7.7%.

• The GPU's overall attach rate (which includes integrated and discrete GPUs, desktops, notebooks, and workstations) in PCs for the quarter was 113%, down -0.6% from last quarter.
• Desktop graphics add-in boards (AIBs that use discrete GPUs) decreased by -14.8% from the last quarter.
• The overall PC CPU market decreased by -9.4% quarter to quarter and increased by 33.3% year to year.

The first quarter is typically flat to down compared to the previous quarter. This quarter's dGPUs were down -12.4% from the last quarter, which is below the 10-year average of -11%. 

“Although the first quarter was down, it may be a signal the industry is returning to a normal seasonality,” says Dr. Jon Peddie, president of Jon Peddie Research. “Microsoft, AMD, and Intel are promoting the AI PC, and Lenovo says their sales are up because of it. AMD and NVIDIA are forecasting an up Q2, so we may have a surprise, and traditional seasonality may be skewed again. However, AMD and NVIDIA’s forecast includes the data center. We expect NVIDIA, with its leading market share, to ship well over 2 million data center GPUs in 2024.”

The new Q1’24 edition of Market Watch contains the above information and more. Of note, JPR has changed the report's format from a heavily narrated version to a heavily charted version, also adding server and client CPU shipment data back to Q1’21 and GPU-compute (GPGPU) shipment data back to Q1’21 for AMD, Intel, and NVIDIA.

JPR also publishes a series of reports on the graphics add-in board market and PC gaming hardware market. The latter covers the total market, including systems and accessories, and examines 31 countries. 

Pricing and Availability

JPR’s Market Watch is available in electronic and hard-copy editions, 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). 

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