High- Performance Computing as a Service Market Size Will Increase Considerably: $17.00 Billion By 2026

High-Performance Computing as a Service (HPCaaS) provides access to high-performance computing applications via the cloud, enabling users to leverage a scalable and reliable on-demand resource pool of HPC components. By utilizing HPCaaS, supercomputing capabilities can be transformed into a flexible, scalable cloud environment. This transformation enhances accessibility to HPC resources through various service models, including Platform as a Service (PaaS), Infrastructure as a Service (IaaS), and Software as a Service (SaaS). Additionally, HPCaaS optimizes resource utilization, supports dynamic provisioning, and offers improved efficiency in computing tasks, making high-performance computing more accessible and cost-effective.

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The evolution of technologies, such as 3D imaging, Artificial Intelligence (AI), Internet of Things (IoT), and the volume of data organizations analyzed boosts the HPC as a service market growth. In addition, the adoption of high-performance computing as a service is on the increase due to its capability to process data in real-time to analyze stock trends, test new products, and stream live sports events.

Moreover, the increase in initiatives taken by governments for digitization is expected to impact positively on the growth of the high-performance computing as a service market globally. Furthermore, high proliferation of cloud in emerging economies is also anticipated to be a major HPC as a service market opportunity.

According to the report published by Allied Market Research, the global high-performance computing as a service market was estimated at $6.28 billion in 2018 and is expected to hit $17.00 billion by 2026, registering a CAGR of 13.3% from 2019 to 2026. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and changing market trends.

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COVID-19 scenario-

1. HPC, in the form of virtual computing infrastructure, brings in a lot of different servers to work together. And, with more and more organizations adopting the work-from-home practice, the global high-performance computing as a service market has received a substantial boost.

2. Now, in collaboration with the White House Office of Science and Technology Policy and the U.S. Department of Energy and many others, IBM is all set to launch the COVID-19 high-performance computing consortium, which will generate an unparalleled amount of computing power to help researchers everywhere better understand COVID-19, its medicaments, and potential therapies.

Surge in need for flexible computing services, rise in demand for efficient and high-speed computation & storage safety, and increase in government initiatives fuel the growth of the global high-performance computing as a service market. On the other hand, high cost of HPC services impedes the growth to some extent. Nevertheless, adoption of cloud technology in the emerging economies is expected to create multiple opportunities in the industry.

On the basis of component, the solution segment contributed to more than three-fifths of the total market share in 2018, and is expected to lead the trail by the end of 2026. The services segment, on the other hand, is projected to portray the fastest CAGR of 15.5% throughout the forecast period.

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On the basis of industry vertical, the BFSI segment accounted for more than one-third of the total market revenue in 2018, and is anticipated to retain its dominance till 2026. At the same time, the healthcare segment would manifest the fastest CAGR of 21.6% from 2019 to 2026.

According to the HPC as a service market analysis in Asia-Pacific, the market is projected to generate the highest growth rate during the forecast period, owing to increase in IT spending by the various governments in this region. In addition, rise in adoption of machine learning and artificial intelligence (AI) among organizations also fuel the market growth in the Asia-Pacific region

On the basis of geography, North America held the major share in 2018, garnering more than two-fifths of the global market. Simultaneously, the region across Asia-Pacific would register the fastest CAGR of 18.3% by 2026. The market is also analyzed across Europe and LAMEA.

The key market players analyzed in the global high-performance computing as a service market report include Dell, Google (Alphabet Inc.), The UberCloud, International Business Machines Corporation (IBM), Cray Inc., Microsoft Corporation, Nimbix, Inc., Penguin Computing, Sabalcore Computing, and Hewlett Packard Enterprise Development LP. These market players have incorporated several strategies including partnership, expansion, collaboration, joint ventures, and others to brace their stand in the industry.

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