With the waning interest in cryptocurrency mining, the graphics card market has gradually dropped in price. According to the published report, graphics card manufacturers were shaken by the biggest collapse since the 2009 financial crisis. The graphics card market is going through tough times due to the competition in the second-hand market.
The graphics card market is in crisis! Manufacturers succumb to the second-hand market
The negative effects of the supply and chip crisis continue in many sectors, especially in technology. The graphics card market, one of the sectors least affected by the crises due to crypto currency mining, fell rapidly in 2022.
Miners began to sell the devices they used due to the depreciation of cryptocurrencies. While the demand for second-hand products is increasing in the graphics card market, this situation has become a problem for manufacturers recently.
In the published report, it is stated that the rate of purchasing external graphics cards for the systems created by users has decreased by 6 percent. Analysts state that the processor market has decreased by 5.7 percent compared to the last second quarter reports.
Users living in the USA can buy the second-hand Nvidia RTX 3080Ti for an average of $ 480, with a zero price of $ 1,300. The RTX 3070, which is sold for $ 600 new, has a price tag of $ 200 in the second-hand market.
Making a statement on the subject, Jon Peddie said, “Many companies, especially Nvidia, AMD and Intel, attribute the decrease in the market to the decrease in cryptocurrency mining. China’s ban on cryptocurrency mining, the US embargoes and the abnormal increase in sales during the pandemic period also have a great impact. It seems that a difficult fourth quarter fiscal period awaits technology companies, especially graphics card manufacturers.” said.
The company details in the published report are as follows:
- Intel: Market share increased 10.3 percent, shipments increased 4.7 percent.
- AMD: Market share decreased by 8.5 percent and shipments decreased by 47.6%.
- Nvidia: Market share decreased by 1.87 percent and shipments decreased by 19.7 percent.
- Overall, the demand for zero graphics cards decreased by 33 percent. Graphics card shipments decreased by 10.3 percent compared to the previous quarter.