The global High-Performance computing market is expected to grow from USD 37.0 billion in 2020 to USD 54.9 billion by 2027, at a CAGR of 5.8% from 2021 to 2027. High-Performance Computer (HPC) combines computing resources to achieve High-Performance capabilities while dealing with many problems in science, industry, or engineering. All sorts of servers and microservers utilized for highly computational or data-intensive tasks are included in HPC systems. HPC is becoming increasingly significant to countries as it has been related to economic competitiveness and scientific progress. According to the report, 97 percent of organizations have implemented supercomputing platforms and claim that they will not exist without them.
The rising demand for streamlining company operations, the expanding popularity of cloud computing, and the rapid digitization trend are major factors driving market revenue growth. The capacity of high-performance computing systems to handle large amounts of data at high speeds is crucial in the increased implementation rate among various entities. With the growing demand for high-frequency transactions and the expanding government requirements in these areas, HPC technologies are increasingly finding use in BFSI. Furthermore, HPC solutions are frequently used in education and research to meet the needs of researchers in fields including structural analysis, chemistry, astronomy, and nuclear physics.
Request Sample Copy of this Report: https://www.marketstatsville.com/request-sample/high-performance-computing-hpc-market
Global High-Performance Computing (HPC) Market Dynamics
Drivers: Growing demand for high-efficiency computing in various verticals
The growing demand for high-efficiency computing in various industries such as finance, medical, research, geological exploration and analysis, and government and defense is a key growth driver for the high-performance computing market. The growing need in numerous sectors for rapid data processing with great precision is one of the key causes driving the HPC industry’s growth. Furthermore, the rising popularity of cloud computing, combined with several governments’ digitalization ambitions, will play a crucial role in propelling market expansion over the forecast period. Further, in the medical field, technologies like computed tomography (CT) scanning and magnetic resonance imaging (MRI) relies on complicated algorithms to get speedy, reliable findings. HPC enables them to significantly reduce computing time and process CT and MRI data rapidly and accurately. As a result, one of the primary factors driving the growth of the HPC market is the growing need in many areas for quicker data processing with high accuracy.
Restraints: Lack of expertise and high cost of HPC
The cost of establishing and running an HPC is expensive. There is a significant financial investment required, both in terms of hardware and software. Energy expenditures, personnel resources, and maintenance and repair charges are also part of HPC’s operating expenses. Startups and SMEs are unable to use HPC due to the hefty initial investment and ongoing maintenance costs. Furthermore, when businesses migrate from on-premises to cloud infrastructure, they incur increased costs. Both of these limitations are projected to hamper the HPC market’s ability to grow.
Direct Purchase Report: https://www.marketstatsville.com/buy-now/high-performance-computing-hpc-market?opt=2950
Opportunities: The rising adoption of hybrid HPC solutions
Organizations are increasingly focused on hybrid HPC solutions in response to rising demand for HPC solutions and technological improvements. IT departments are frantically attempting to strike a balance between cloud and on-premises HPC options. On-premises HPC resources are being scaled out as needed by businesses. Simultaneously, Cloud Service Providers (CSPs) have begun to offer turn-key HPC solution settings geared to the specific workload requirements of companies. The efficiency of a hybrid HPC system is improved. In addition, it addresses security and privacy concerns while simultaneously lowering maintenance costs.
Scope of the Report
The study categorizes the High-Performance computing market-based deployment type, organization size, component, and application at the regional and global levels.
By Deployment Type (Revenue, USD Billion, 2017-2027)
By Organization Size (Revenue, USD Billion, 2017-2027)
- Large Enterprises
By Component (Revenue, USD Billion, 2017-2027)
By Application (Revenue, USD Billion, 2017-2027)
- Ultra-Wideband Technology
By Region (Revenue, USD Billion, 2017-2027)
- North America (US, Canada, Mexico)
- South America (Brazil, Argentina, Colombia, Peru, Rest of Latin America)
- Europe (Germany, Italy, France, UK, Spain, Poland, Russia, Slovenia, Slovakia, Hungary, Czech Republic, Belgium, the Netherlands, Norway, Sweden, Denmark, Rest of Europe)
- Asia Pacific (China, Japan, India, South Korea, Indonesia, Malaysia, Thailand, Vietnam, Myanmar, Cambodia, the Philippines, Singapore, Australia & New Zealand, Rest of Asia Pacific)
- The Middle East & Africa (Saudi Arabia, UAE, South Africa, Northern Africa, Rest of MEA)
The Solution segment of the High-Performance computing market is projected to account for the largest share by component
The High-Performance computing market has been segmented into solutions and services based on the component. The solution segment accounted for the largest share in the global High-Performance computing market in 2020. The solution segment is anticipated to have the highest market share during the forecast period, owing to the capability of HPC solutions to process a huge volume of data with speediness and correctness. Further, expansion of the IT industry and increasing preference for hybrid High-Performance Computing (HPC) solutions are some of the other factors anticipated to drive the market’s growth.
Asia Pacific accounts for the highest CAGR during the forecast period in the High-Performance computing market
Based on the regions, the global High-Performance Computing (HPC) market has been segmented across North America, Asia-Pacific, Europe, South America, and the Middle East & Africa. Four main countries, namely, China, India, Japan, and the Rest of Asia-Pacific, are analyzed in Asia-Pacific. Asia-Pacific holds the second position in the global High-Performance computing market. China accounted for a significant share of this market in 2020, and India is expected to experience rapid growth during the forecast period.
China holds a significant share of the High-Performance computing market in terms of utilization and development. However, developing countries such as India, Singapore, Hong Kong, Taiwan, and others have been recognized as important markets, owing to rapid technological growth. The increasing adoption of high-performance computing for weather forecasting and research activities boosts the region’s market growth.
Access full Report Description, TOC, Table of Figure, Chart, etc: https://www.marketstatsville.com/table-of-content/high-performance-computing-hpc-market
Key Market Players
The High-Performance computing market is mildly concentrated in nature with few numbers global players operating in the market such as Advanced Micro Devices Inc., Hewlett Packard Enterprise, Intel Corporation, International Business Machines (IBM) Corporation, NEC Corporation, Sugon Information Industry Co. Ltd, Fujistu Ltd, Microsoft Corporation, Dell Technologies Inc., Dassault Systemes SE, Lenovo Group Ltd, Amazon Web Series, NVIDIA Corporation, and others. These players have been adopting various winning strategies to gain higher shares or retain leading positions in the market.