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Global High Performance Computing Market to Reach $107.8 Billion by 2028, Fueled by Demand for AI, ML, and Big Data Applications
Saturday, December 2, 2023
DUBLIN, Nov. 24, 2023 /PRNewswire/ -- The "Global High Performance Computing Market" report has been added to ResearchAndMarkets.com's offering.
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This comprehensive report offers insights into the rapidly evolving High Performance Computing (HPC) market, including its size, key trends, and growth drivers.
The global High Performance Computing (HPC) market has witnessed remarkable progress in recent years, reaching a value of $46.2 billion in 2022. This growth can be attributed to the widespread adoption of data-intensive applications like artificial intelligence (AI), machine learning (ML), and big data analytics, which have significantly increased the demand for robust computing resources. Industries such as healthcare (for genomic research) and financial services (for algorithmic trading) have led the charge in adopting HPC solutions as part of their digital transformation initiatives.
Key Market Drivers
-- Data-Intensive Applications: The proliferation of data-intensive
applications, including AI, ML, and big data analytics, has driven the
demand for high-performance computing. These applications require
substantial computational power for data processing, training AI models,
and conducting complex simulations.
-- Digital Transformation: Industries across the spectrum are embracing
digital transformation, and HPC is a critical component in this journey.
Sectors such as healthcare, finance, manufacturing, and research rely on
HPC for enhancing efficiency, innovation, and competitiveness.
-- Cloud-Based HPC Services: Cloud-based HPC services have gained traction
due to their scalability and accessibility, making HPC resources
available to a broader range of users. Cloud offerings have democratized
access to powerful computing resources.
-- Government Initiatives: Governments, academic institutions, and industry
players have collaborated on exascale computing initiatives, addressing
challenges like the high cost of infrastructure and the need for skilled
personnel. These initiatives aim to advance HPC capabilities further.
-- Convergence with Emerging Technologies: HPC is converging with AI,
quantum computing, and edge computing. This convergence promises
innovative solutions and the resolution of complex problems across
various domains.
Challenges and Obstacles
-- High Infrastructure Costs: The initial cost of HPC hardware can be
prohibitive for some organizations. Frequent hardware upgrades also
contribute to the total cost of ownership.
-- Power Consumption Concerns: HPC systems are power-hungry, raising
concerns about energy consumption and environmental impact. Sustainable
practices and energy-efficient solutions are gaining importance.
-- Talent Shortage: Skilled personnel capable of managing and optimizing
HPC systems are in short supply, posing challenges for organizations
aiming to leverage HPC effectively.
-- Regulatory Landscape: Evolving regulations and compliance requirements,
especially regarding data privacy and security, can affect HPC
deployments and usage.
Market Segmentation and Projections
The global HPC market is segmented based on components, deployment models, organization size, industries, and geography. The hardware segment, which represents the largest upfront investment cost, dominated the market in 2022, valued at $23.8 billion. It is expected to grow at a CAGR of 15.5%, reaching $55.1 billion by 2028. Cloud deployment models, large enterprises, and industries such as manufacturing, defense, BFSI, healthcare, academic and research, and media and entertainment are all significant contributors to market growth.
Key Report Highlights:
-- Market Size and Growth: The global HPC market was valued at $46.2
billion in 2022, with a projected revenue of $107.8 billion by 2028,
growing at a CAGR of 15.5%.
-- Segment Analysis: The report offers a detailed breakdown of the market
by component, deployment, organization size, industry, and region.
-- Market Trends: Current trends in the global HPC market, including the
convergence of HPC with emerging technologies and the importance of
Environmental, Social, and Governance (ESG) factors, are discussed.
-- Competitive Landscape: The report provides an analysis of market share,
recent developments, and profiles of major players in the HPC industry,
including ATOS, Advanced Micro Devices, Amazon, Cisco System, Dell,
Hewlett Packard, IBM, INTEL, Lenovo Group, Microsoft, NEC, and NVIDIA.
For more information about this report visit https://www.researchandmarkets.com/r/xbaiu1
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
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SOURCE Research and Markets
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