High Performance Computing Market

Global High Performance Computing Market

High Performance Computing Market- By Component, Computation Type, Deployment, Organization Size, Server Price Band, Vertical and Region.

Market Synopsis:

The Global High Performance Computing Market is valued at USD 36.11 Billion in the year 2022 and is projected to reach a value of USD 58.43 Billion by the year 2030. The Global Market is anticipated to grow exhibiting a Compound Annual Growth Rate (CAGR) of 6.20% over the forecast period.

The market growth can be attributed to several factors, such as increasing demand for Cloud-based HPC in applications such as media & entertainment. Factors such as increasing investments in the Industrial Internet of Things, artificial intelligence (AI), and engineering, which demand electronic design automation (EDA), are likely to drive the market over the forecast period.

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Additionally, the increasing demand for high speed and accurate data processing, the rising prominence of cloud computing with digitalization, and the rising need to streamline business processes are the other major factor for the growth of the High Performance Computing Market during the forecast period. Faster computing capabilities of micro servers or HPC systems, improved performance efficiency, and smarter deployment & management with high quality of service are some key factors driving the growth of the HPC market. Additionally, various vendors are also targeting to provide high-performance converged technology solutions, as this trend is gaining significant relevance, the market is growing steadily, and it would continue its growth in the future.

Furthermore, Information Technology teams are working to find a balance between High Performance Computing solutions for the cloud and on-premises, while cloud service providers are offering turnkey High Performance Computing solution ecosystems tailored to organizations' specific workflow requirements. Thus, the increasing importance of digitization and cloud computing is anticipated to increase Global High Performance Computing Market revenue growth.

Market Segmentation:

The High Performance Computing Market is segmented on the basis of component, computation type, deployment, organization size, Server Price Band, and vertical. Based on components, the market is segmented into Services and solution. Based on computing type, the market is segmented as Parallel Computing, Distributed Computing, and Exascale Computing. Based on deployment type, the market is segmented as Cloud and On-Premises. Based on organization size, the market is segmented into Small and Medium-Sized Enterprises (MSME), and Large Enterprises. Based on the server pricing band, the market is segmented as USD 250,000 – 500,000 and above, and USD 250,000 – 100,000 and below. Based on vertical, the market is segmented as Banking, Finance Services, and Insurance, Earth Science, Education and Research, Energy and Utilities, Government and Defense, Healthcare and Life sciences, Manufacturing, Media and Entertainment, and other application areas.

Based on Server Price Band:

On the basis of server price band, the market is segmented as USD 250,000 – 500,000 and above, and USD 250,000 – 100,000 and below. The USD 250,000 – 500,000 and above segment is projected to grow at the highest CAGR during the forecast period. These systems are developed based on state-of-the-art HPC infrastructures to solve highly complex problems in the shortest time and are driving market growth. They comprise many connected computing nodes with distributed memory, which are controlled by a single master unit.

Based on Organization Size:

On the basis of organization size the market is segmented into Small and Medium-Sized Enterprises (MSME), and Large Enterprises. The SMEs is predicted to acquires the largest share of the market during the forecast period. Organizations having an employee base of rarer than 1,000 people can be termed SMEs. Desktop computers are inefficient in fulfilling the computational and storage demand for high-end applications in SMEs. Consequently, SMEs are shifting toward solutions that can cater to their high-computational demands. Furthermore, SMEs face intense competition from large enterprises; thus, to gain a competitive edge, they are increasingly deploying HPC solutions that aid them in increasing productivity, and the trend is expected to continue during the forecast period.

North America Held the Largest Share of the Market in Terms of Revenue

The North American region is known for its advanced technologies initial adoption of this is driven by healthy technology development in the United States and Canada. Moreover, the surge in massive data propels the need for security and this implementation of new technologies and, therefore, leads to the implementation of HPC systems during the forecast period. North America is likely to endure dominating the global market of HPC during the forecast period.

Asia Pacific to Grow at the Fastest Rate Over the Forecast Period

The Asia Pacific region is projected to be the fastest-growing markets for High Performance Computing during the forecast period. Moreover, the factors for such a fast-growing market are owing to the growing acceptance of High Performance Computing for weather forecasting and research activities during the forecast period.