Next Generation Computing Market Forecast 2030: Emerging Trends and Growth Drivers

According to the report published by Allied Market Research, the global next generation computing market generated $157.9 billion in 2021, and is estimated to reach $928.6 billion by 2031, witnessing a CAGR of 19.6% from 2022 to 2031. 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.

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Next generation computing market trends in Asia-Pacific is expected to exhibit highest growth during the forecast period, owing to strong economic growth along with the ongoing development in next generation computing and real-time data analysis, which drives organizations to invest heavily in next generation computing market to sustain growth and improve productivity.

In addition, factors such as major shift toward digital transformation, cloud deployment & technological advancement among small & medium businesses, and continuously ongoing modernization in work force management strategy in emerging economies notably contribute toward the market growth. Furthermore, key players in Asia-Pacific are focusing on enhancing their operations and increasing their overall efficiency to stay competitive in the market, which is expected to provide lucrative opportunities for the growth of the market during the forecast period.

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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On the basis of next generation computing market analysis Increase in demand for enhanced computing performance for data analysis and rise in usage of simulation & modeling in healthcare, BFSI, and energy sector drive the market growth. In addition, rise in need for secure computing platforms, influx of huge amounts of data, and increase in adoption of quantum computing technologies by numerous industrial sectors are also expected to drive the market growth. However, several technological challenges associated with programming quantum computers, and developing approximate and probabilistic computing algorithms are expected to hamper growth of the next generation computing technology during the forecast period.

Based on enterprise size, the SMEs segment held the largest share in 2021, accounting for more than three-fifths of the global next generation computing market revenue, and would maintain its dominance in terms of revenue through 2031. However, the large enterprises segment is estimated to witness the fastest CAGR of 20.8% during the forecast period.

On the basis of component, the hardware segment dominated the overall next generation computing industry in 2020, and is expected to continue this next generation computing market trends during the forecast period. This is attributed to increase in adoption of next generation computing solution among enterprises to gain strategic as well as competitive advantage and strong customer retention over their competitors. In addition, these solutions save both time as well as money, leverage existing data investments, and improve image analysis capabilities, with just a single software application.

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Moreover, next generation computing service providers are upgrading their software solutions to expand the range of next generation computing applications to reach more customers, which provides lucrative opportunities for the market growth. However, the service segment is expected to witness highest next generation computing market growth, as service segment of next generation computing industry ensures effective coordination between software provider companies and users of next generation computing software by providing services such as implementation, training, consulting services, and managed services. The adoption of this software speeds up the customer satisfaction of various industrial verticals such as BFSI, IT & telecommunication, and healthcare, which maximizes the value of existing customer by optimizing their needs and minimizes the cost of operation. This further fuel the adoption of services that are needed to handle the software properly.

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.

Depending on offering, the on-premise segment garnered the largest share in 2020, and is expected to continue this trend during the forecast period. This is attributed to numerous benefits provided by this on-premise deployment such as high level of data security and safety. However, the cloud segment is expected to witness highest growth in the upcoming years. As cloud deployment does not need any investment in IT infrastructure as all data is stored on cloud server, which increases the demand for of next generation computing software in small and medium scale organizations.

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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.

These players have adopted various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, product portfolio, and developments by every market player.

Covid-19 Scenario:

1. 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.

2. 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.

The report offers a detailed segmentation of the global next generation computing market based on component, offering, type, enterprise size, end use industry, and region. The report provides an analysis of each segment and sub-segment with the help of tables and figures. This analysis helps market players, investors, and new entrants in determining the sub-segments to be tapped on to achieve growth in the coming years.

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