Global High-performance Computing (HPC) Market to Reach US$ 55.3 Billion by 2028, Fueled by Expanding Demand for Big Data Analytics

According to the latest report by IMARC Group, titled “­­High-performance Computing (HPC) Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” the global high-performance computing (HPC) market size reached US$ 40.2 Billion in 2022. High-performance computing (HPC) systems, commonly known as supercomputers, combine several powerful processors that work parallelly to deliver much higher performance than a desktop computer or workstation, enabling the solution of complex computational problems. They can handle large data volumes, perform intensive calculations, and carry out multiple tasks simultaneously at exceptionally high speeds. These systems are particularly adept at performing operations involving large data sets and demanding tasks that require intensive numerical calculations, such as quantum mechanical physics, climate research, oil and gas exploration, and molecular modeling. Another key component of HPC is parallel processing, which involves dividing a program into multiple smaller ones that can be processed concurrently. HPC uses advanced algorithms and software applications to manage and orchestrate these complex tasks. HPC systems have a broad range of applications across various fields, including scientific research, big data analytics, financial modeling, weather forecasting, and artificial intelligence, where the computational capabilities of standard computers are insufficient.

Global High-performance Computing (HPC) Market Trends:

The rising need for high-efficiency computing across various sectors, such as healthcare, energy, finance, and scientific research, that need extensive computational power to process and analyze enormous volumes of data is primarily driving the market expansion. Besides this, the advent of big data and the increased prevalence of data analytics in business decision-making processes have created a surge in demand for HPC solutions, thus strengthening the market growth. Companies are seeking to extract actionable insights from large datasets in real time, and HPC systems provide the necessary computational power and speed. Moreover, the widespread product utilization in complex simulations and modeling, such as weather forecasting, climate modeling, quantum mechanics, and genomics, are creating a favorable outlook for market expansion. Furthermore, the extensive employment of artificial intelligence (AI) and machine learning (ML) applications, which require extensive computational power, are contributing to the growing demand for HPC solutions. In addition to this, numerous government initiatives and funding to support advanced research, including the development and utilization of supercomputers, are aiding in market expansion. Concurrently, significant improvements in cloud-based HPC solutions are facilitating access for small and medium enterprises, thereby bolstering the market growth. Looking forward, the market value is projected to reach US$ 55.3 Billion by 2028, expanding at a CAGR of 5.3% during 2023-2028.

Market Summary:

• On the basis of the component, the market has been divided into hardware, and software and services. Currently, hardware represents the largest segment.
• Based on the deployment type, the market is bifurcated into on-premises and cloud-based. At present, on-premises accounts for the largest market share.
• On the basis of the end use, the market has been segregated into aerospace and defense, energy and utilities, BFSI, media and entertainment, manufacturing, life science and healthcare, and others.
• On a regional basis, the market has been segmented into North America (the United States and Canada), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa. Among these, North America is leading the global market.
• The competitive landscape of the market has also been examined, with some of the key players being Advanced Micro Devices Inc., Atos SE, Cisco Systems Inc., Dell Technologies Inc., Fujitsu Limited, Hewlett Packard Enterprise Development LP, Intel Corporation, International Business Machines Corporation, Lenovo Group Limited, Microsoft Corporation, NetApp Inc. and Nvidia Corporation.

Report Scope:

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