IMARC Group, a leading market research company, has recently releases report titled “High Performance Computing (HPC) Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global high performance computing market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
How Big is the High Performance Computing Market?
The global high-performance computing market size reached US$ 40.2 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 55.3 Billion by 2028, exhibiting a growth rate (CAGR) of 5.3% during 2023-2028.
What is High Performance Computing?
High-performance computing (HPC), also known as supercomputing, is a practice of aggregating computing power that performs parallel processing for running advanced software programs efficiently, quickly, and reliably. It is designed to offer enhanced analytics, faster product development cycles, modeling, simulating, and analyzing data. It also delivers high-performance capabilities to help find solutions for complex applications, such as genomics-based personalized medicine, autonomous vehicles, high-frequency trading, computer-aided design, deep learning, speech and facial recognition, pattern recognition, seismic exploration, computational fluid dynamics, and seismic tomography. Owing to these properties, HPC finds extensive application in financial technology (fintech), research, media, entertainment, oil, gas, healthcare, life sciences, government, and defense industries across the globe.
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What are the growth prospects and trends in the high performance computing industry?
The market is primarily driven by the escalating product demand across multiple end-use industries, including medical, information technology (IT), academic, and others, for faster data processing with higher accuracy.
In addition, the increasing utilization of magnetic resonance imaging (MRI) and computed tomography (CT) scanning in the healthcare sector, which require immediate and accurate results by processing complex algorithms, is contributing to the market growth. Moreover, the rising popularity of cloud computing and the growing inclination of enterprises toward cloud service providers (CSPs) that offer turn-key HPC solutions is providing a positive thrust to the market growth.
Besides this, the rising adoption of artificial intelligence (AI), the internet of things (IoT), and machine learning (ML) for multiple processes, extensive research and development (R&D) activities conducted by key players, and the advent of industry 4.0 are some of the other factors creating a positive market outlook across the globe.
What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Component:
- Hardware
- Software and Services
Breakup by Deployment Type:
- On-premises
- Cloud-based
Breakup by End Use:
- Aerospace and Defense
- Energy and Utilities
- BFSI
- Media and Entertainment
- Manufacturing
- Life Science and Healthcare
- Others
Market Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Who are the key players operating in the industry?
The report covers the major market players including:
Advanced Micro Devices Inc., Atos SE, Cisco Systems Inc., Dell Technologies Inc., Fujitsu Limited, Hewlett Packard Enterprise Development LP, Intel Corporation, International Business Machines Corporation, Lenovo Group Limited, Microsoft Corporation, NetApp Inc., Nvidia Corporation
If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.
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