High Performance Computing Is Estimated To Witness High Growth Owing To Opportunity In Data Analytics Solutions

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High Performance Computing Is Estimated To Witness High Growth Owing To Opportunity In Data Analytics Solutions

High performance computing (HPC) involves using supercomputers and computer clusters to solve complex problems and algorithms. HPC solutions allow businesses and organizations to analyze huge volumes of data, simulate complex processes, and develop new products through computer modeling and simulations faster than traditional computing systems. These solutions are widely used across industries such as aerospace, automotive, healthcare, and energy & utilities for applications like climate modeling, financial forecasting, molecular modeling, and seismic analysis.

The global High Performance Computing Market is estimated to be valued at US$ 36.33 Bn in 2023 and is expected to exhibit a CAGR of 3.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Opportunity:

The growing demand for data analytics solutions across various industries presents a major market opportunity for HPC solutions. Organizations are increasingly leveraging analytics technologies to gain insights from massive and complex datasets. However, traditional computing systems struggle to efficiently process and analyze huge volumes of unstructured data in a reasonable time frame. This is driving the demand for more powerful HPC solutions that can seamlessly support advanced analytics workloads. HPC systems allow businesses to apply sophisticated algorithms on big data in parallel computing environments to obtain valuable insights in shorter cycle times. The ability of HPC to address data-intensive problems is positioning it as a strategic technology for organizations aiming to extract competitive advantages from their data assets. This rising focus on data-driven decision making through HPC-enabled analytics is expected to significantly boost the adoption of HPC solutions over the coming years.

Porter's Analysis
Threat of new entrants: The high performance computing market requires large capital investments in R&D which acts as a barrier for new entrants. However, cloud service providers are able to enter the market by leveraging their existing infrastructure.

Bargaining power of buyers: Buyers have moderate bargaining power as there are many established players offering similar high performance computing solutions. However, specialized solutions can increase customer lock-in.

Bargaining power of suppliers: Component suppliers have low bargaining power due to availability of substitute components and prominence of few manufacturers who can fulfill high volume demands.

Threat of new substitutes: Substitute technologies like quantum computing currently have limitations but pose a long term threat. Edge computing is also emerging as a complement.

Competitive rivalry: The market is dominated by few international players resulting in high competitive rivalry based on performance, pricing and additional services.

SWOT Analysis
Strength: Growing demand from industries for compute-intensive applications and increasing usage of AI and big data analytics.
Weaknesses: High initial investments and complexity of implementation and maintenance of HPC systems. Limited technical expertise available.
Opportunities: Growth in cloud HPC providing affordable access. Increasing research in exascale supercomputing.
Threats: Funding uncertainties for government led research projects. Cybersecurity challenges in networked systems.

Key Takeaways
The Global High Performance Computing Market Growth is expected to witness high over the forecast period driven by increasing adoption across industries. The market size is projected to reach US$ 36.33 Bn by 2024.

Regional analysis: North America dominates currently due to presence of leading research institutes and technology companies. Asia Pacific is expected to grow at the fastest rate led by government investments in countries like China and India to strengthen domestic research infrastructure. Europe is another major regional market.

Key players operating in the high performance computing market are Wienerberger, Excluton, Ter Stege Betonvormen, Kooy Baksteencentrum, Steenfabriek Spijkenisse, Normteq, Kalkzandsteenfabriek Harderwijk, Mulderij Metsel- en Timmerbedrijf, and Daas Baksteen Zeddam. They offer a range of computation, storage, networking solutions targeted at industries as well as government and academic research applications.