Press release
Global High Performance Computing Market Size To Grow At A CAGR Of 7.30% In The Forecast Period Of 2023-2028
The report studies the latest updates in the market, along with their impact across the market. It also analysis the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter's Five Forces Models.
High Performance Computing Market Size, Share, Price, Growth, Trends, Industry Report, Key Players, Major Segments and Forecast
The key highlights of the report include:
Market Overview (2018-2028)
Historical Market Size (2022): USD 44.5 billion
Forecast CAGR (2023-2028): 7.30%
Forecast Market Size (2028): USD 67.6 billion
Rising requirements for high efficiency computing, growth of IT industries, and increased utilisation of magnetic resonance imagining and computed tomography scanning in the healthcare sector are key drivers for the high performance computing market. The ability of high performance computing systems to process large data volumes at high speed are a key advantage encouraging multiple applications of such systems. Emerging upscale computing services, increasing number of data centres, and presence of essential HPC server manufacturers are further expected to boost the growth of the high performance computing market.
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Increasing investments in artificial intelligence, electronic design automation, and industrial Internet of things (IIoT) is driving the growth of the high performance computing market. Additionally, continued investments by the key market players are further contributing towards the growth of the market for high performance computing.
However, factors including lacking knowledge regarding high performance computing maintenance coupled with high maintenance costs is likely to pose challenges for the growth of the market for high performance computing.
High Performance Computing Industry Definition and Major Segments
High performance computing (HPC) refers to aggregation of computer power in a manner that results in delivery of higher performance than a conventional workstation or desktop computer. It is suited for applications that have data and performance intensive computing requirements as HPCs facilitate improved analytics and data modelling along with faster analysis and simulation.
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On the basis of component, the market is categorised into:
Solutions
Breakup by Type
Servers
Storage
Networking Devices
Software
Services
Breakup by Type
Design and Construction
Integration and Deployment
Training and Outsourcing
Based on deployment, the market is bifurcated into:
On-Premises
Cloud
On the basis of organisation size, the market is classified into:
Small and Medium Enterprises
Large Enterprises
Based on industry vertical, the market is segregated into:
BFSI
Government and Defence
Education and Research
Manufacturing
Media and Entertainment
Healthcare and Life Sciences
Energy and Utility
Others
On the basis of region, the market is segmented into:
North America
Europe
Asia Pacific
Latin America
Middle East and Africa
High Performance Computing Market Trends
The key trends in the high performance computing market include end user preferences to outsource high performance computing workloads. Increasing demands high performance computing in the form of services is expected to fuel the growth of the market. Growing popularity of hybrid high performance computing solutions owing to increased inclination of enterprises towards cloud services coupled with visualisation advancements are other major trends in the market for high performance computing.
Adoption of high performance computing systems by various governments for academic, defence, and energy conserving applications is one of the major trends in the market for high performance computing. Increasing preference of businesses towards cloud service providers with the provision of turnkey high performance computing solutions especially designed to cater to the needs of specific workload requirements is further fuelling the growth of the high performance computing market.
Incorporation of high performance computing systems in genomics research for efficiently analysing large volumes of sequencing data is further aiding the growth of the market. In regional terms, North America accounts for a major portion in the market, owing to rapid technological advancements, and increased adoption of new technologies.
Key Market Players
The major players in the global high performance computing market report are Hewlett Packard Enterprise Development LP, Dell Inc, Atos SE, Microsoft Corporation, NVIDIA Corporation, IBM Corporation, Intel Corporation, Fujitsu Limited, Cisco Systems, Inc., Lenovo Group, Advanced Micro Devices, Inc, and NEC Corporation, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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