Global High Performance Computing Market To Be Worth Around USD 60.1 Billion By 2026: Acumen Research and Consulting

Author: Acumen Research and Consulting

The global high performance computing market size is expected to around USD 60.1billion by 2026, the market is projected to grow with 7.4% CAGR during the forecast timeframe. Development of the IT sector, improvements in virtualization, and escalating inclination for hybrid high performance computing solutions is expected to bolster the global high performance computing market growth.

The capacity of high performance computing systems to process enormous data at higher speeds is motivationdefense agencies, government agencies, energy companies,academic institutions, and utilities to embrace HPC systems. This is also expected to propelthe growth of the HPC market in the forthcoming years.

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Increasingattractiveness of cloud computing along with the digitization initiatives being accepted by several governments would performance a significant role in catapulting the market during the forecasted timeframe. Such as, the Government of(UAE) United Arab Emirates has propelled digital transformation projects, for instance Smart DubaiandSmart Abu Dhabi. These projects would boostacceptance of cloud computing and prompt the demand for HPC systems.

The global high performance computing market is segmented into four major segment named component, end-user, deployment, and region. On the basis of component the high performance computing market is segmented into servers, storage, networking devices, software, services, cloud and other. On the basis of the end-user the global high performance computing market is segmented into Banking, Financial Services, and Insurance (BFSI), Gaming, Media & Entertainment, Retail, Transportation, Government &Defense, Education & Research, Manufacturing, Healthcare & Bioscience, and Others. On the basis of deployment, the High Performance Computing market is segmented into on premise and cloud. On the basis of region the global High Performance Computing market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.

The component sub-segment has been characterised into cloud,storage,software, services,networking devices,servers, and others. The servers sub-segment held the largest market chunk in 2018 and is anticipated to display a significant CAGR over the forecasted timeframe. The development is credited to the increase in the number of data centers, as numerous mid-size enterprises and industries are in the progression of financing in colocation and on-premises infrastructure to support the increasingneed for public cloud services.

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The services sub-segment captured for over 12.0% of the market share in 2018 and is anticipated to grow at a CAGR exceeding 4.5% from 2018 to 2026. High Performance Computing vendors delivernumerous services, which including support, maintenance, and management. Support is particularly mandatory while employing high performance computing and start using the same. Wherein, maintenance services include upgrading existing systems and troubleshooting. Due to this, the high performance computing market size of the services sub- segment is anticipated to exceed USD 5,500 million during the forthcoming years

The North America captures more than 32.0% market share in 2018. North America region is the largest market for technology and technology-based solutions. Moreover, it is also predicted to be a robust player in the world-wide economy, particularly, in the execution and growth of new technologies. Though the demand to process and study the large volumes of raw data is increasing, having robust security measures in place is also gaining importance, which is driving the demand to implement the latest technologies, which, in turn, is boostingacceptance an implementation of high performance computing. Furthermore, North America is domicile to some of the large organization, such as General MotorsandBoeing, which along with other small and medium enterprises, are belligerentlyacceptinghigh performance computing to overcome the technical limitations. This factor is expected to increase the embracingin the North America region.

Asia Pacific is anticipated to increase at the highest CAGR of over 8.5% over the forecasted timeframedue to increasingacceptance of high performance computing for scientific research and weather forecasting, among others.

The key players catering to the global high performance computing market are Advanced Micro Devices, Inc. (AMD), Cisco Systems, Inc., Cray Research, Inc., Dell Technologies, Inc., and Atos SE. These companies are capitalizingenormousmoney to revolutionise the product portfolio as the rivalry in the market is growing with speedy pace. Also, with varying technological, the need for better technology infrastructure are growing, so cater the need of the customers, players are continuously innovating new technological products.

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