High Performance Computing Market Size, Share, Growth Analysis, By Component(Solutions (Servers, Storage, Networking Devices, Software)), By Deployment Type(On-Premise, Cloud), By Region - Industry Forecast 2024-2031

High Performance Computing Market size was valued at USD 45.14 billion in 2019 and is poised to grow from USD 48.51 billion in 2023 to USD 82.7 billion by 2031, growing at a CAGR of 7.5% in 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.