Press release
High Performance Computing Market Trends and Growth Report 2023-2028
High Performance Computing Market 2023-2028
Report Highlights
How Big is the High Performance Computing Market?
The global high-performance computing (HPC) market size reached US$ 40.2 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 55.3 Billion by 2028, exhibiting a growth rate (CAGR) of 5.3% during 2023-2028.
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What is High Performance Computing?
High-Performance Computing (HPC) refers to the practice of aggregating computing power to achieve higher performance than one can get from a desktop computer or workstation. It is used to solve complex problems and perform research activities that demand vast computational resources. It aids meteorologists and environmental scientists in climate modeling and weather forecasting. It enables the analysis of complex systems to predict weather patterns and analyze environmental changes. HPC helps in network simulation and optimization, which allows telecom providers to enhance connectivity and service delivery. It provides cost-effective solutions by reducing the time required for research and development, which allows for more efficient utilization of resources. HPC facilitates graphics rendering and animation, which creates realistic visuals for movies and video games. It has the ability to handle large datasets and perform intense calculations, which makes it an indispensable tool in scientific research, engineering, and industrial applications. It is used in various applications, such as simulating the human genome, predicting weather patterns, conducting aerospace simulations, and financial modeling.
What are the growth prospects and trends in the high performance computing industry?
HPC is utilized in the healthcare sector for genomics research, drug discovery, and personalized medicine. It allows scientists to analyze large datasets, understand genetic variations, and identify new therapeutic opportunities. Along with this, the surging prevalence of infectious and chronic diseases and the increasing preferences for personalized medicines represent one of the primary factors strengthening the market growth around the world. Moreover, HPC finds application in the banking, financial services and insurance (BFSI) sector for processing large volumes of real time data to optimize trading strategies and evaluate investment risks.
This, coupled with the rising adoption of online banking services on account of rapid digitization, a considerable reliance on smartphones and high speed internet connection is favoring the growth of the market. In addition, HPC is employed in the automotive sector for simulating crash tests, aerodynamics, and fuel efficiency. Along with this, the growing focus on driver and passenger safety due to the increasing number of fatal road accidents is influencing the market positively.
Apart from this, the rising adoption of HPC by research institutions for scientific research in physics, chemistry, astronomy, and other fields and support of groundbreaking discoveries by providing computational capabilities needed to tackle complex equations and simulations is bolstering the market growth. Furthermore, the growing usage of HPC in the oil and gas industry to help in the efficient discovery and extraction of energy resources is creating a favorable outlook for the market.
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The report has segmented the market on the basis of region, component, deployment type and end use.
Breakup by Component:
• Hardware
• Software and Services
Breakup by Deployment Type:
• On-premises
• Cloud-based
Breakup by End Use:
• Aerospace and Defense
• Energy and Utilities
• BFSI
• Media and Entertainment
• Manufacturing
• Life Science and Healthcare
• Others
Breakup by Region:
• North America: (United States, Canada)
• Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America: (Brazil, Mexico, Others)
• Middle East and Africa
If you want latest primary and secondary data (2023-2028) with Cost Module, Business Strategy, Distribution Channel, etc. Click request free sample report, published report will be delivered to you in PDF format via email within 24 to 48 hours of receiving full payment.
Key highlights of the report:
• Market Performance (2017-2022)
• Market Outlook (2023-2028)
• Porter's Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.
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