Global High Performance Computing Market

High-performance Computing (HPC) Market Name Size, Share, Growth Analysis, By Component (Solution, Services), By Computation Type (Parallel Computing, Distributed Computing), By Deployment Type (On-Premises, Cloud), By Organization size, By Vertical, By Region - Industry Forecast 2024-2031


Report ID: SQMIG45B2029 | Region: Global | Published Date: February, 2024
Pages: 157 | Tables: 64 | Figures: 75

High Performance Computing Market Insights

Global High-performance Computing (HPC) Market size was valued at USD 1.72 billion in 2022 and is poised to grow from USD 1.90 billion in 2023 to USD 3.87 billion by 2031, growing at a CAGR of 10.7% during the forecast period (2024-2031).

High-performance computing demand in genomics research is driving the growth of the HPC market. Enhancing the market growth is the need for virtualization, increased computing power, IT expansion, better scalability, and trustworthy storage in high-performance computing. All varieties of servers and microservers used for highly computational or data-intensive tasks are included in HPC systems. In recent years, High Performance Computing (HPC) has gained significance to many nations as it is linked to scientific progress and also economic competitiveness attributable to technology. A global survey showed that 97% of companies adopted supercomputing technologies and stated they would not operate without them. Several reasons, such as the development of microserver technologies and HPC system’s increased speed of computations, rise in performance efficiency and ease of deployment and supervision with a good quality of service, are driving the growth of the HPC market. 

These HPC systems' main issues are managing the power supply, the cooling system, and the storage and data. Data management and storage will become increasingly crucial in the future. Moreover, software barriers are getting bigger and are slowing the expansion of the HPC sector. Academic institutions and a variety of sectors are quickly embracing HPC technology to create dependable and durable goods that will allow them to keep a competitive edge in the market. The market is expanding steadily and is expected to do so in the future as this trend gains more and more significance.

US High Performance Computing Market is poised to grow at a sustainable CAGR for the next forecast year.

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Global High-performance Computing (HPC) Market size was valued at USD 1.72 billion in 2022 and is poised to grow from USD 1.90 billion in 2023 to USD 3.87 billion by 2031, growing at a CAGR of 10.7% during the forecast period (2024-2031).

The global high performance computing market is characterized by the presence of both well established companies and new entrants. Big names such as IBM, Hewlett Packard Enterprise (HPE), Dell Technologies, NVIDIA, and Cray Inc. are ahead in the market with more innovative solutions to offer. These companies concentrate on improving computing power across various parameters like they are integrating artificial intelligence, cloud services and advanced technological devices. Moreover, the joint ventures and alliances among market players are promoting development and increasing market share in several regions. 'Advanced Micro Devices (AMD) ', 'Intel ', 'Hewlett Packard Enterprise (HPE) ', 'IBM ', 'Dell ', 'Lenovo ', 'Fujitsu ', 'Atos ', 'Cisco ', 'NVIDIA ', 'NEC Corporation ', 'Amazon Web Services (AWS) ', 'Oracle ', 'Microsoft ', 'Inspur ', 'NetApp ', 'Iron Global ', 'Aspen Systems ', 'Advanced Clustering Technologies ', 'Dawning Information Industry Co. Ltd. (Sugon). '

The increasing dependence on artificial intelligence (AI), machine learning (ML) as well as big data analytics is one of the major factors propelling growth in the global high performance computing market. Industries such as healthcare, finance, manufacturing utilize HPC in order to analyze large volumes of information and run advanced simulations to speed up innovations and enhance decision making. 

Shift Towards Cloud-based HPC Solutions: As can be seen, the global high performance computing market is making a distinct shift towards cloud-based HPC solutions. Such an approach provides easy access to high performance that organizations require at lower costs and with the ability to grow gradually more traffic able computing power. Moreover, the increasing embrace of hybrid cloud solutions is supporting this change, facilitating the enhancement of the HPC strategy of the companies. 

The global high performance computing market for the North American region, has outstanding features such as advanced technology, developed R&D, and several worlds HPC providers such as IBM, HPE, NVIDIA, etc., thus making them the greatest region in the world. This is also due to having a huge share of the industries who utilize high performance computing systems to carry out complex processes such as the simulations in AI and big data analytics in the economy, health, defense, aerospace, and finance. In addition to these drivers, the allocation of resources for supercomputing projects by agencies such as the US Department of Energy helps to strengthen services and research related to HPC system design in North America thereby increasing the regional market size. 

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Global High Performance Computing Market

Report ID: SQMIG45B2029

$5,300
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