Dublin, Dec. 09, 2022 (GLOBE NEWSWIRE) -- The "High Performance Computing Market Size By Component, By Deployment Type, By Server Price Band, By Application Area, By Geographic Scope And Forecast" report has been added to ResearchAndMarkets.com's offering.
According to the publisher, the Global High-Performance Computing (HPC) Market was valued at USD 32,520.94 Million in 2020 and is projected to reach USD 55,866.78 Million by 2028, growing at a CAGR of 7.31% from 2021 to 2028.
Global High Performance Computing Market Overview
The critical factor supporting the growth of the HPC market is the ability of HPC solutions to process vast amounts of data with speed and accuracy. The increasing need for high-efficiency computing in different industries that include finance, medical, research, geological exploration & analysis, and government and defense is a key growth driver for the high-performance computing market.
The growing need in these fields for accelerated processing of data with high precision is one of the major factors driving the growth of the HPC market. Additionally, the growing popularity of cloud computing, coupled with the digitization initiatives being adopted by numerous governments, would play a critical role in catapulting the market growth over the forecast period. Moreover, expansion of the IT industry, advancements in virtualization, and continued diversification are some of the factors anticipated to drive the growth of the market.
The adoption of HPC in cloud computing is driving the global High Performance Computing Market. Scalability, flexibility, and availability are some of the advantages of using cloud computing systems. Cloud HPC offers numerous benefits such as low maintenance costs, elasticity, and economies of scale. In addition to this, HPC in the cloud provides the opportunity to create a wider community of enterprises that are new to high-end computing, thereby assisting them in leveraging the benefits of low Operational Expenditure (OPEX) and overcoming the challenges of power and cooling.
Global High-Performance Computing (HPC) Market by Component
Based on Component, the market is bifurcated into Solutions and Services. Solutions accounted for the largest market share in 2020. The main cause of boosting the growth of the HPC market is the capability of HPC solutions to process a huge volume of data with speediness and correctness. Further, expansion of the IT industry and increasing preference for hybrid High-Performance Computing (HPC) solutions are some of the other factors anticipated to drive the growth of the market.
High Performance Computing Market by Deployment Type
On the basis of Deployment, the Global High-Performance Computing (HPC) Market has been segmented into On-Premise and Cloud-Based. On-Premise accounted for the largest market share in 2020 is projected to grow at a CAGR of 6.33% during the forecast period. The elements that can be attributed as the governments stay keen on acquiring sensitive data linked to the national security and personal data of the citizens, enterprises are anxious about the security of their respective administrative data. As a result, on-premise infrastructure is being chosen over a cloud-based. Such aspects are projected to increase the development of the on-premise segment in the upcoming years.
High Performance Computing Market by Server Price Band
Based on Server Price Band, the market is bifurcated into USD 250,000500,000 and Above and USD 250,000100,000 and Below. The USD 250,000100,000 and below segment holds the largest market share. The price varies from industry to industry. Large enterprise requires high-performance computers to store information whereas cloud deployment helps organizations in minimizing their operational costs, as they do not have to invest in any additional computing resource. Thus, the server price brands vary accordingly.
High Performance Computing Market by Application Area
On the basis of the Application Area, the Global High-Performance Computing (HPC) Market has been segmented into Government & Defense, Education & Research, Banking, Financial Services, and Insurance (BFSI), Media and Entertainment, Healthcare & Bioscience, Energy & Utilities, Gaming, and Others. Government & Defense accounted for the largest market share in 2020 is projected to grow at a CAGR of 8.13% during the forecast period. Rising governments investing in novel technologies for military and defense, law enforcement, Securities & Exchange Commission for detection of the risk of frauds, identification of the trading violations is supporting the growth of high-performance computing market.
Key Topics Covered:
1 INTRODUCTION
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET OUTLOOK
5 MARKET, BY COMPONENT
6 MARKET, BY DEPLOYMENT
7 MARKET, BY APPLICATION AREA
8 MARKET, BY END USE INDUSTRY
9 MARKET, BY GEOGRAPHY
10 COMPETITIVE LANDSCAPE
11 COMPANY PROFILES
12 APPENDIX
Companies Mentioned
- Advanced Micro Devices Inc.
- Hewlett Packard Enterprise
- Intel Corporation
- International Business Machines (IBM) Corporation
- NEC Corporation
- Sugon Information Industry Co. Ltd
- Fujistu Ltd
- Microsoft Corporation
- Dell Technologies Inc.
- Dassault Systemes SE
- Lenovo Group Ltd
- Amazon Web Series
- NVIDIA Corporation.
For more information about this report visit https://www.researchandmarkets.com/r/2mazv8
