Jon Peddie Research has published its Q3 2024 GPU shipment report, seeing 73.6 million GPUs shipped in the three-month period, with PC CPU shipments increasing to 66.5 million units.
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According to JPR, GPUs will have a compound annual growth rate of -1.9% from 2025 to 2028, reaching an install base of close to 3 billion units by the end of this period. Over the next 4 years, JPR predicts that the penetration of discrete GPUs inside of PCs will reach 17%.
Dr. Jon Peddie, president of Jon Peddie Research said: “A surge led to the jump in overall GPU and CPU shipments in Q3. 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”.
CES 2025 is right around the corner with both NVIDIA and AMD unveiling next-generation graphics cards with the GeForce RTX 50 series “Blackwell” cards, and the Radeon RX 8000 series “RDNA 4” cards to be revealed in early January 2025.
JPR’s report continued: “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 entirely here just yet, but given the turmoil, it’s hard to predict”.