High-performance Computing (HPC) Market worth $49.9 billion by 2027 - Exclusive Report by MarketsandMarkets™
CHICAGO, May 16, 2022 /PRNewswire/ -- According to a research report "High-performance Computing (HPC) Market with COVID-19 Impact Analysis, by Component, Computation Type (Parallel Computing, Distributed computing and Exascale Computing), Industry, Deployment, Server Price Band, Verticals & Region - Global Forecast to 2027", published by MarketsandMarkets™, the High performance computing (HPC) market is expected to grow from USD 36.0 billion in 2022 to USD 49.9 billion by 2027, at a CAGR of 6.7%. The market growth can be attributed to several factors, such as increasing demand for high performance computing in Banking, financial services and insurance (BFSI) applications.
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Services segment of high performance computing to grow with the highest CAGR during the forecast period
HPC services are required to be highly customized to be free from product design overheads. HPC services help employees within an organization to meet their ultimate objective of improved operability and energy and resource utilization. The growing complexities in the installation and deployment of HPC systems are expected to boost the demand for HPC services. HPC services are only available for deployment via the cloud. HPC systems can be hosted over managed cloud services such as AWS (Amazon Web Services) and Microsoft Azure. By making use of HPC over the managed cloud, organizations can tap into the power of these HPC systems without requiring to set up HPC systems manually. The use of HPC hosted over the cloud follows a pay-as-you-go pricing model.
Parallel computing to hold the largest share of the market during the forecast period
In parallel computing, multiple processing elements run simultaneously to solve complex problems. These problems are divided into smaller problems, and a dedicated computing resource is assigned to solve them. Parallel computing has gained popularity across various applications in the industrial sector. The use of other computing techniques has physical constraints that prevent frequency scaling, thereby reducing the system's capability of operating at optimal computational speeds. Parallel computing has become the dominant standard in computer architecture, as it is being increasingly used in modern multi-core processors due to its less power consumption and heat generation features in data processing.
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North America for High performance computing is expected to witness the highest growth during the forecast period.
North America is expected to hold the largest market share (~44%) during the forecast period as it is a technologically advanced region and has a significant presence of major market players. Moreover, the region has the largest presence of cloud service providers and is witnessing an increase in the investments in the technological development of existing infrastructures, which is fueling the deployment rate of HPC systems. The region is also experiencing a high demand for compute and on-demand access to process and analyze data. Thus, the market for HPC server solutions is expected to hold a major share of the regional market during the forecast period. The top countries contributing to the growth of the HPC market in North America include the US and Canada. Many major IT companies are based in the US and have invested heavily in setting up high-capacity storage and high-speed data analysis facilities that handle and analyze complex global data.
Some of the key companies operating in the market are Advanced Micro Devices (US), Intel (US), HPE (US), IBM (US), Dell (US), Lenovo (China), Fujitsu (Japan), Atos (France), CISCO (US), Nvidia (Japan), NEC Corporation (Japan) and so on.
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