Global High-Performance Computing (HPC) Market on the Upswing: Likely to Grow at a CAGR of 5.6% by 2027
Published | 11 October 2021
HPC systems' ability to process large volumes of data at faster speeds is driving the growth of the high-performance computing market. By overcoming the barriers associated with supercomputing, HPC solutions can further assist in solving data analysis and engineering problems...
A recent study conducted by the strategic consulting and market research firm BlueWeave Consulting revealed that the global high-performance computing (HPC) market was worth USD 37.1 billion in the year 2020. According to the study, the market is estimated to grow at a CAGR of 5.6%, earning revenue of around USD 54.4 billion by the end of 2027. As HPC systems can process large volumes of data at higher speeds, government agencies, defense agencies, academic institutions, energy companies, and utilities are increasingly adopting HPC systems, driving the global high-performance computing (HPC) market. Companies like these use data to glean specific insights that help them make sound business decisions. Defense and security departments are increasingly relying on this technology. In the medical field, applications such as Computed Tomography (CT) scanning and Magnetic Resonance Imaging (MRI) require quick, accurate results from the processing of complex algorithms. As a result, high-performance computing (HPC) is experiencing significant growth, contributing to its market growth.
Investment in IT technologies is driving the global high-performance computing (HPC) market.
High-performance computing is an emerging factor driving the global market growth among small and medium-sized businesses. The benefits of HPC include speed, cost, and flexibility of business operations, as well as the ability to do more work in less time. Furthermore, high-performance computing solutions can be customized to meet the specific needs of the organization. These factors are favoring the global HPC market's growth.
Increasing Volume of Data Is Projected to Boost the Demand for High-Performance Computing (HPC)
Due to the growing volume of data in virtually every sector, businesses embrace high-performance computing, enabling them to run complicated programs reliably and quickly. Business processes can be enhanced as a result of high-performance computing. These systems collect, process, and retrieve data quickly to identify gaps and deliver results. That is why sectors like government, military, engineering firms, etc., prominently use HPC, which drives its market growth.
Request For Free Sample Report @ Click here
Global High-Performance Computing (HPC) Market - By Component
Based on components, the global high-performance computing (HPC) market is categorized into servers, storage, networking devices, software, services, cloud, and others. The servers segment held the largest revenue share in 2020. This segment's growth can be attributed to a rise in the number of data centers as various mid-size companies and businesses invest in colocation and on-premises infrastructure to support the growing demand for public cloud services. Additionally, the market is marked by the presence of key HPC servers manufacturing companies, such as Fujitsu Limited, IBM Corporation, Dell Inc., and Lenovo. The services offered by HPC vendors include maintenance, support, and management. HPC vendors need to offer support when a system is first implemented and used.
Global High-Performance Computing (HPC) Market - Regional Insights
Geographically, the global high-performance computing (HPC) market is segmented into North America, Europe, Asia-Pacific, Latin America, Middle-East & Africa. North America dominates the global high-performance computing (HPC) market. However, the Asia-Pacific region is projected to witness the highest CAGR during the forecast period. Countries like China, Japan, India, South Korea, etc., are significantly investing in the expansion of IT infrastructure. Furthermore, the increasing number of small and medium-sized businesses and rapid shift towards cloud computing are also propelling the growth of high-performance computing (HPC) in the Asia-Pacific region.
Impact of COVID-19 on Global High-Performance Computing (HPC) Market
The global high-performance computing (HPC) market witnessed lucrative growth opportunities during the COVID-19 pandemic. With expanding research and development activities surrounding the virus and vaccine development, the need for high-performance computing grew considerably, propelling its market growth. Furthermore, the sudden outbreak of the pandemic and the imposition of lockdown compelled the businesses and organizations to shift towards cloud computing for their operations. This resulted in the generation of immense amounts of data across various industries, which also proliferated the demand for high-performance computing, driving its market growth.
Key players in the global high-performance computing (HPC) market are Lenovo, Cray, Nvidia, Atos SE, Advanced Micro Devices, Inc., Hewlett Packard Enterprise Development LP, Cisco Systems, Inc., Dell Technologies Inc., Fujitsu, Intel Corporation, IBM Corporation, Sugon, Dassault Systems, Microsoft Corporation, Hitachi Ltd, Oracle Corporation & other prominent players. Cloud computing is one of the potential factors responsible for the growth and rising adoption of HPC systems. Owing to this, various key players are focusing on acquisitions, mergers, and collaborations with major pioneers in the cloud computing market to introduce cloud computing or to provide cloud computing solutions to gain a competitive edge and enhance their product portfolio.
The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of the global high-performance computing (HPC) market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends of the global high-performance computing (HPC) market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyses the growth drivers, challenges, and competitive dynamics of the market.
BlueWeave Consulting provides comprehensive Market Intelligence (MI) Solutions to businesses regarding various products and services online and offline. We offer all-inclusive market research reports by analyzing both qualitative and quantitative data to boost up the performance of your business solutions. BWC has built its reputation from the scratch by delivering quality inputs and nourishing long-lasting relationships with its clients. We are one of the promising digital MI solutions companies providing agile assistance to make your business endeavors successful.
BlueWeave Consulting & Research Pvt. Ltd
+1 866 658 6826 | +1 425 320 4776 | +44 1865 60 0662
Recent Press Releases
- Saudi Arabia Graphene Market Growing Profusely: Projected to Grow at a CAGR of 18.0% by 2027
- United States Cybersecurity Market Thriving: Predicted to Garner USD 85.6 billion at a CAGR of 8.0% by 2027
- Global Online Video Platform Market Poised for Magnanimous Growth—Projected to Reach Worth USD 16.7 Billion By 2027
- Middle East Cybersecurity Market Reflecting Robust Expansion: Projected to Grow at a CAGR of 12.2% by 2027
- Global Low-Code Development Platform Market Getting into Magnanimous Mode: Projected to Grow at a CAGR of 28.2% by 2027
- Mexico Cybersecurity Market Growth Sturdy: Projected to Grow at a CAGR of 10.2% by 2027