WebsiteGear Logo Log In
New User? Sign Up
About | Contact | FAQ
  Home News Web Hosting Computer Hardware Tuesday, February 27, 2024 
Add Press Release News | News Feeds Feeds | Email This News Email


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.

https://mma.prnewswire.com/media/539438/Research_and_Markets_Logo.jpg

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.


Media Contact:

Research and Markets
Laura Wood, Senior Manager
press@researchandmarkets.com

For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900

U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716

Logo: https://mma.prnewswire.com/media/539438/Research_and_Markets_Logo.jpg

View original content:https://www.prnewswire.com/news-releases/global-high-performance-computing-market-to-reach-107-8-billion-by-2028--fueled-by-demand-for-ai-ml-and-big-data-applications-301997086.html

SOURCE Research and Markets



Email This News Email | Submit To Slashdot Slashdot | Submit To Digg.com Digg | Submit To del.icio.us Del.icio.us | News Feeds Feeds

RELATED NEWS ARTICLES
Nav Nova Announces Availability of Annual Report on Form 20-F Through Company Website | Feb 27, 2024
Nav Cryptsoft licenses KMIP (Key Management Interoperability Protocol) to xFusion Digital Technologies for use in Baseboard Management Controllers | Feb 27, 2024
Nav Amove and Storj Simplify Instant Global File Access and Remote Collaboration | Feb 27, 2024
Nav CTL Introduces Next-Generation ChromeOS Device Technology: The CTL Chromebook NL73 Series | Feb 27, 2024
Nav Global Artificial Intelligence Server Market Analysis Report 2023-2029: The Role of Specialized Accelerators and Growing Complexity of Neural Networks Fueling Demand | Feb 27, 2024
Nav Telit Cinterion Teams with Digi International and Nokia to Transform IoT Connectivity with 5G RedCap Integration; Showcases Live Demo at MWC Barcelona 2024 | Feb 27, 2024
Nav Omnilert Unveils Third Generation of its AI Visual Gun Detection System, Increasing Technology Leadership on Performance, Accuracy and Ease of Use | Feb 27, 2024
Nav HydroPoint Unveils HydroPoint 360: A Revolutionary Enterprise Water Management Solution to Achieve Water Goals | Feb 27, 2024
Nav Dahua Technology Unveils 5E Initiative to Enhance Customer Experience | Feb 27, 2024
Nav Why TSMC's Japan experience is good for its German fab: Q&A with DIGITIMES advisor Albert Lin | Feb 27, 2024
NEWS SEARCH

FEATURED NEWS | POPULAR NEWS
Submit News | View More News View More News