next-generation computing market size reach USD 928.6 billion by 2031, with a CAGR of 19.6%

According to the report published by Allied Market Research, the global next-generation computing market size reach USD 928.6 billion by 2031, with a CAGR of 19.6%. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chains, regional landscapes, and competitive scenarios. The report is a helpful source of information for leading market players, new entrants, investors, and stakeholders in devising strategies for the future and taking steps to strengthen their position in the market.

Rise in investments in next-generation computing technology, growth in demand for high performance computing, and increase in demand for next generation computing from medical research and financial markets drive the growth of the global next generation computing market. Region-wise, the market in North America is likely to maintain its leadership during the forecast period.

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The next generation computing market size was valued at USD 132.53 billion in 2020, and is expected to reach USD 782.10 billion by 2030, growing at a CAGR of 19.4% from 2021 to 2030.

The global next generation computing market analysis is segmented into component, deployment, type, organization size, industry vertical, and region. By component, the market is divided into hardware, software, and service. Depending on deployment, it is segregated into on-premise and cloud. On the basis of organization size, it is bifurcated into large enterprises and small & medium size enterprises. As per type, it is fragmented into high-performance computing, quantum computing, brain-computer interface, approximate and probabilistic computing, energy efficiency computing, thermodynamic computing, memory-based computing, optical computing, and others. By industry vertical, it is categorized into BFSI, healthcare, space & defense, energy & power, transportation & logistics, chemicals, academia, government, telecom, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

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Based on end-use industry, the government segment held the largest share in 2021, capturing nearly one-fifth of the global next generation computing market revenue, and would lead the trail through 2031. The IT and Telecom segment, on the other hand, is estimated to witness the fastest CAGR of 24.5% during the forecast period. The report also discusses the BFSI, energy and power, transportation & logistics, chemicals, academia, healthcare, space & defense, and other segments.

Based on type, the high-performance computing segment held the largest share in 2021, capturing more than one-fifth of the global next generation computing market revenue. On the other hand, the brain type computing segment is expected to manifest the fastest CAGR of 23.6% during the forecast period. The report also analyzes the quantum computing, approximate and probabilistic computing, energy efficiency computing, thermodynamic computing, memory-based computing, optical computing, and others segments.

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Based on region, the market share in North America was the largest in 2021, accounting for nearly two-fifths of the global next-generation computing market revenue, and is likely to maintain its leadership status during the forecast period. However, the market in Asia-Pacific is expected to manifest the highest CAGR of 22.1% from 2022 to 2031. The other regions analyzed in the study include LAMEA and Europe.

Leading players of the global next-generation computing market analyzed in the research include IBM Corporation, Alibaba Group Holding Limited, Atos SE, Hewlett Packard Enterprise Development LP, Intel Corporation, Cisco Systems, Inc., NEC Corporation, Amazon Web Services, Inc., Google LLC, Oracle Corporation.

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Covid-19 Scenario:

• The COVID-19 outbreak had a less negative impact on the next-generation computing market, owing to significant investments made out in the field of advanced technology, such as distributed computing, AI, ML, deep learning, cloud computing, and parallel computing.

• Also, the increase in use of cloud-based next-generation computing software by several businesses and industries are likely to boost production and revenue which and support the market's expansion.

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