High Performance Computing Market Insights, Industry Outlook, Growing Trends And Demands

The high performance computing market size has grown strongly in recent years. It will grow from $44.18 billion in 2023 to $48.12 billion in 2024 at a compound annual growth rate (CAGR) of 8.9%. The growth in the historic period can be attributed to expanding data analytics and big data processing, advancements in parallel processing, increased demand in financial services.

The high performance computing market size is expected to see strong growth in the next few years. It will grow to $69.88 billion in 2028 at a compound annual growth rate (CAGR) of 9.8%. The growth in the forecast period can be attributed to growing demand for high-fidelity simulation, climate modeling and sustainability, continued expansion in genomics and bioinformatics. Major trends in the forecast period include cybersecurity and threat detection, exponential growth in AI and deep learning, expansion of cloud-based HPC services, integration of artificial intelligence (AI), focus on energy efficiency.

Market Overview -
High-performance computing refers to a system or device with the capacity to analyze data and carry out intricate computations at high speed by establishing a dependable, rapid IT infrastructure capable of storing, processing, and analyzing vast volumes of data for various applications such as academic institutions, government agencies, businesses, engineering, and others.

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Rising Demand For High-Speed And Accurate Data Processing Fuels High-Performance Computing Market
The emerging need for high-speed data processing with accuracy is driving the high-performance computing market. When data is processed, it is gathered and converted into useable information. It is critical that data processing is done appropriately and faster so that the result, or data output, is not harmed. HPC allows users to analyze massive volumes of data faster than a regular computer, resulting in faster insights and allowing enterprises to remain ahead of the competition. For instance, in August 2023, according to Statistics Canada, a Canada-based national statistical agency, in 2022, Internet usage among Canadians aged 15 years and older surged to 95%, marking an increase from 92% in 2020, continuing the upward trend in online engagement. Therefore, the rising need for high-speed data processing with accuracy will propel the high-performance computing market growth.

Competitive Landscape -
Major companies operating in the high performance computing market report are Microsoft Corporation, Dell Inc., Huawei Technologies Co. Ltd., Amazon Web Services Inc., Lenovo Group Ltd., Intel Corporation, Hewlett Packard Enterprise Development LP, The International Business Machines Corporation, Cisco Systems Inc., NVIDIA Corporation, Fujitsu Limited, NEC Corporation, Advanced Micro Devices Inc., Atos SE, Dassault Systèmes SE, Super Micro Computer Inc., Sugon Information Industry Co. Ltd., Cray Inc., Mellanox Technologies Ltd., Inspur Group, DCX USA LLC, Eurotech S.p.A., One Stop Systems Inc., Rescale Inc., Penguin Computing Inc., Bright Computing Inc., Ultipa Inc., Saras Micro Devices, OSNEXUS Corporation, Quantinuum, Strangeworks Inc., GigaIO Inc., Silicon Graphics International Corp., Parallel Machines

Strategic Collaborations Drive Innovation In High-Performance Computing Market
Major companies operating in the high-performance computing market are focusing on strategic collaboration to provide advanced solutions and innovations. Strategic collaboration refers to a mutually beneficial partnership between two or more independent entities that work together to achieve shared goals aligned with their individual strategic objectives. For instance, in July 2023, HCLTech, an India-based technology company, announced a collaboration with Microsoft, a US-based technology company. Through this collaboration, they aim to offer high-performance computing (HPC) solutions to clients across diverse sectors. HCLTech intends to educate 3,000 professionals within three years and establish an exclusive lab acting as a center of excellence (CoE) in partnership with Microsoft. These solutions will integrate HCLTech's adeptness in advanced engineering services with Microsoft's Azure cloud HPC technologies. The collaboration aims to grant clients access to HPC resources, encompassing foundational infrastructure, advanced analytics, machine learning, and simulation capabilities.

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Key Segments -
The high performance computing market covered in this report is segmented -
1) By Data Type: Structured, Unstructured, Semi Structured
2) By Component: Software, Hardware, Services
3) By Organization Size: Small and Medium-sized Enterprises (SMEs), Large Enterprises
4) By Deployment Type: Cloud, On-premises
5) By Industry Vertical: Government and Defense, IT and Telecom, Banking and Finance, Transportation and logistics, Retail and Consumer goods, Media and Entertainment, Others

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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