High-Performance Computing Market is estimated to grow to USD 54.9 billion by 2027

The Market Statsville Group (MSG) publishes the new report on the "High-Performance Computing Market by Deployment Type (Cloud Based and Web-Based), By Organization Size, (SMEs and Large Enterprises), By Component (Solutions, and Services), By Application (Government and Defense, BFSI, Education and Research, Manufacturing, Media and entertainment, Healthcare and Life Sciences, Energy and Utilities, Earth Sciences and Others), and Region - Global Trends, Market Share, and Forecast to 2027".

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The global High-Performance computing market is estimated to grow from USD 37.0 billion in 2020 to USD 54.9 billion by 2027, at a CAGR of 5.8% from 2021 to 2027. The rising demand to streamline company operations, the expanding popularity of cloud computing, and the rapid digitization trend are all the factors that contribute to the growth of the High-Performance computing market. Government agencies, academic institutions, energy firms, defense agencies, and utilities adopt HPC systems because of their ability to process enormous volumes of data at faster speeds. The HPC market is expected to develop in the next years as a result of this.

One of the crucial factors driving the market growth is the need for high computational capabilities and the need to manage huge data at a faster speed. Due to many advantages such as performance and scalability, HPC systems are projected to gain popularity among industry verticals. The need for HPC services is likely to rise as HPC solutions become more widely adopted and have been demanded in forthcoming years.

Global High-Performance Computing Market Segmentation
The overall High-Performance Computing market has been segmented into the deployment type, organization size, component, application, and region.

By Deployment Type (Cloud Based and Web-Based)
By Organization Size(SMEs and Large Enterprises)
By Component (Solutions and Services)
By Application (Government and Defense, BFSI, Education and Research, Manufacturing, Media and entertainment, Healthcare and Life Sciences, Energy and Utilities, Earth Sciences and Others)
By Region (US, Canada, Mexico, UK, Germany, France, Italy, Spain, China, Japan, India, South Korea, Southeast Asia, Australia, Saudi Arabia, UAE, South Africa, Qatar, Nigeria, Israel, Brazil, Argentina, Peru)
Government and defense, by application, is estimated to hold the largest market share during the forecast period

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The global high-performance computing market is segmented into Government and Defense, BFSI, Education and Research, Manufacturing, Media and entertainment, Healthcare and Life Sciences, Energy and Utilities, Earth Sciences, and Others based on the application. The government and defense segment generated the highest revenue in 2020, and it is expected to register a significant CAGR from 2020 to 2027. The growing adoption of cutting-edge IT solutions to improve computing efficiency in this segment. Furthermore, various economies are turning to HPC to combat the COVID-19 pandemic. For instance, Hewlett Packard Enterprise Development LP is working on AI and HPC solutions to combat the COVID-19 epidemic. Several institutions are using HPC throughout the world to create a coronavirus vaccine. Additionally, the governments are increasingly investing in novel technology for military and defense, law enforcement, and the Securities and Exchange Commission to detect fraud risk and identify trade offenses, boosting the demand for high-performance computing.

North America accounts for the highest market share during the forecast period in the High-Performance Computing market

Based on the regions, the global High-Performance computing market has segmented North America, Asia-Pacific, Europe, South America, and the Middle East & Africa. In North America, three main countries, the US, Mexico, and Canada, are analyzed. The United States has the largest share of the market, followed by Canada. The need to process massive amounts of data while maintaining strict security has tremendously risen. As a result, many companies adopt new technologies, likely to boost market expansion in this region, particularly in the United States. Furthermore, this region is home to multinational giants such as General Motors, Boeing, and SMEs projected to heavily utilize HPC systems to reduce technical errors. This aspect is expected to drive a large increase in HPC demand in the region.

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This research report includes a study on the development and marketing strategies, product portfolios, and winning design of the leading companies operating in the High-Performance computing market. It also consists of the profiles of leading companies such as CARTO, Signify (Philips), HERE Technologies, Esri (indoo.rs), Phunware, Everbridge, Cloud4Wi, HPE (Aruba), Cisco, , CenTrak, Orange Business Services, Favendo, Gozio Health, and Purple, among others. These market players have focused on acquisitions and expansion to gain a larger market share in the High-Performance computing market.

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