High Performance Computing Market Expected to Reach US$ 31.92 Billion by 2022

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posted on 11 months ago — updated on 1 second ago

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High Performance Computing Market Expected to Reach US$ 31.92 Billion by 2022

In terms of regional analysis, North America is expected to be the fastest-growing and dominating region in the high

Market Overview:
The global high performance computing (HPC) market is projected to reach a value of US$ 31.92 billion by 2022, with a compound annual growth rate (CAGR) of 7.5% during the forecast period of 2023-2030. HPC refers to the use of supercomputers to process large amounts of data and perform complex calculations at high speeds. The demand for HPC is driven by its ability to deliver enhanced performance and efficiency in various sectors such as healthcare, energy, finance, and research. HPC enables users to solve complex problems, accelerate research, and improve productivity. With advancements in technology and increasing data-intensive applications, the HPC market is expected to witness significant growth in the coming years.

Market Key Trends:
One key trend observed in the high performance computing market is the growing adoption of cloud-based HPC solutions. Cloud computing offers scalability, flexibility, and cost-effectiveness, making it an attractive option for organizations using HPC technologies. Cloud-based HPC solutions provide on-demand access to high-performance computing resources, allowing organizations to quickly scale up or down based on their computing needs. Additionally, cloud-based HPC solutions reduce the need for upfront capital investments in hardware and software, enabling cost savings. As a result, many organizations are adopting cloud-based HPC solutions to improve their computational capabilities and gain a competitive edge. This trend is expected to drive the growth of the high performance computing market in the forecast period.
Segment Analysis:

The high performance computing market can be segmented based on component, deployment mode, organization size, and end-user industry.

Based on the component, the market can be segregated into hardware, software, and services. Among these, the hardware segment is dominating the market due to the increasing demand for high-performance computing systems and servers. The hardware segment includes various components such as processors, memory, storage devices, and networking equipment. The dominance of the hardware segment can be attributed to the continuous advancements in processing power and memory capacity, leading to improved performance and efficiency of high-performance computing systems.

Key Takeaways:

The global High Performance Computing Market Share is expected to witness high growth, exhibiting a CAGR of 7.5% over the forecast period of 2023-2030. This growth can be attributed to several factors, including the increasing demand for high-performance computing solutions in various industries such as healthcare, aerospace, defense, and finance. High-performance computing systems are used to process large volumes of complex data and perform advanced simulations and modeling, which are critical for research, analysis, and decision-making in these industries. The growing need for faster processing speeds and improved performance is driving the adoption of high-performance computing systems.

In terms of regional analysis, North America is expected to be the fastest-growing and dominating region in the high-performance computing market. This can be attributed to the presence of major technology companies and research institutions in the region, along with the increasing adoption of high-performance computing solutions in various industries. North America has been at the forefront of technological advancements and innovations, leading to the high demand for high-performance computing systems.

Key players operating in the high-performance computing market include NVIDIA Corporation, Advanced Micro Devices Inc., Amazon Web Services, NEC Corporation, Lenovo Group Ltd., Hewlett Packard Enterprise, Dassault Systemes SE, Sugon Information Industry Co. Ltd., Dell Technologies Inc., Fujitsu Ltd., Microsoft Corporation, Intel Corporation, and International Business Machines Corporation. These companies are focusing on research and development activities to introduce advanced high-performance computing solutions and gain a competitive edge in the market. Additionally, strategic partnerships, collaborations, and acquisitions are also observed in the market to expand product offerings and customer base.