High-Performance Computing (HPC) Market to grow at a CAGR of 7.1% from 2022 to 2027, APAC is estimated to contribute 46% market growth - Technavio

News provided by

Nov 06, 2023, 00:35 ET

NEW YORK, Nov. 6, 2023 /PRNewswire/ -- The high-performance computing (HPC) market is set to grow by USD 16,629.45 million from 2022 to 2027 progressing at a CAGR of 7.1% during the forecast period. The report offers an up-to-date analysis regarding the current global market scenario, the latest trends and drivers, and the overall market environment. The market is segmented by geography (APAC, North America, Europe, South America, and Middle East and Africa). APAC is estimated to contribute 46% to the growth of the market during the forecast period. The growth of the regional high-performance computing market is largely propelled by technologically focused countries like China, Japan, and South Korea. The Chinese government has actively supported supercomputing initiatives to drive advancements across multiple fields, including life science research and manufacturing designs for domestic companies. For example, India currently possesses 15 supercomputing systems that are utilized for a range of applications, such as weather forecasting and earthquake analysis. Hence, these factors are expected to drive the market growth in the region during the forecast period. -Here is an Exclusive report talking about Market scenarios with a historical period (2017-2021) and forecast period (2023-2027). Download Sample Report in minutes!

Technavio has announced its latest market research report titled Global High Performance Computing (HPC) Market 2023-2027

The high-performance computing (HPC) market covers the following areas:

High-Performance Computing (HPC) Market 2023-2027 - Market Dynamics

Key Driver

The market is driven by the increasing utilization of big data analytics. Increasing utilization of big data analytics is the key factor driving the growth of the market. The rise of big data analytics has resulted in a significant increase in the number of clustered supercomputers. The increased usage of big data analytics across numerous industries has accelerated supercomputer adoption. Dealing with large volumes of data necessitates computing systems that can efficiently handle data-intensive tasks. Companies are now looking to go beyond data management and concentrate on extracting value from data, which enables quicker and more knowledgeable decision-making. Furthermore, numerous firms are likely to adopt this strategy to improve their decision-making abilities and acquire a competitive advantage in the market. Hence, these factors are expected to drive the market growth during the forecast period

Major Trends

The growing use of the cloud is the primary trend shaping the HPC market. The growing accessibility and affordability of cloud computing services from major players like Amazon Web Services (AWS), Microsoft Azure, and Google Cloud Platform, are key factors driving this trend.

Furthermore, these players offer a range of high-performance computing (HPC) services, including powerful virtual machines and storage solutions. Cloud-based HPC also offers enhanced flexibility, agility, and improved collaboration and data-sharing capabilities.

In addition, the increasing demand for compute-intensive tasks in industries like research, engineering, and finance is another significant factor contributing to the expansion of cloud-based HPC.

Significant Challenges

The short lifecycle of supercomputers is a major challenge impeding the growth of the HPC market. This is because supercomputers use the latest technologies to attain high processing speeds and computing capability. Furthermore, supercomputers typically have a three-year lifespan before needing to be upgraded. The high costs of supercomputers are caused by factors such as heat generation, power consumption, and component depreciation.

Moreover, a company can easily purchase a new system with the most recent hardware and other upgraded components. Hence, these factors are expected to restrict the market growth during the forecast period.

High-Performance Computing (HPC) Market 2023-2027: Market Segmentation

This high-performance computing market is segmented by component (server, storage, application, services, and middleware), deployment (on-premises and cloud)

The market share growth by the server segment will be significant during the forecast period. The significant growth of the supercomputer market is the primary factor for the growth of the segment. Another factor driving the growth is the growing interest in divisional servers, increasing demand due to cluster computing. Furthermore, clustered systems and large-scale clusters are commonly used in departmental systems due to their benefits, which include reduced initial costs, faster processing rates, and a variety of other advantages. This enables the adoption of high-performance computing (HPC) by many departments within an organization, resulting in lower overall costs.

What's New? -

Special coverage on the Russia-Ukraine war; global inflation; recovery analysis from COVID-19; supply chain disruptions, global trade tensions; and risk of recession
Global competitiveness and key competitor positions
Market presence across multiple geographical footprints - Strong/Active/Niche/Trivial - Buy the report!

Companies Mentioned

Advanced Micro Devices Inc.
Alphabet Inc.
Amazon.com Inc.
Atos SE
Cisco Systems Inc.
Dassault Systemes SE
DataDirect Networks Inc.
Fujitsu Ltd.
Hewlett Packard Enterprise Co.
Intel Corp.
International Business Machines Corp.
Landsea Group Co. Ltd.
Lenovo Group Ltd.
Microsoft Corp.
NEC Corp.
NetApp Inc.
NVIDIA Corp.
Oracle Corp.
Super Micro Computer Inc.
Dell Technologies Inc.

Vendor Offering

Advanced Micro Devices Inc. - The company offers HPC solutions with AMD EPYC processors, AMD 3D VCache technology, and AMD Instinct MI200 series accelerators.
Atos SE - The company offers HPC solutions such as BullSequana XH3000, Nimbix Supercomputing Suite, ThinkAI, and JARVICE XE HPC Enterprise Software.
Dassault Systemes SE - The company offers cloud-based High-Performance Computing solutions called the 3DEXPERIENCE platform.

Instant access to 17,000+ market research reports.

Technavio's SUBSCRIPTION platform

Related Reports
The data center market size is estimated to grow at a CAGR of 12.73% between 2022 and 2027. The market size is forecast to increase by USD 329.82 billion.

The data center power market is estimated to grow at a CAGR of 11.1% between 2022 and 2027. The size of the market is forecast to increase by USD 20,569.77 million.

Table of Contents

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Component
7 Market Segmentation by Deployment
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Company Landscape
12 Company Analysis
13 Appendix

About US
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contact
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com

SOURCE Technavio