by The global High Performance Computing Market is estimated to be valued at US$ 36.33 Bn in 2023 and is expected to exhibit a CAGR of 7.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview: High performance computing (HPC) clusters utilize supercomputers and large server farms to process large datasets and perform complex simulations. HPC helps organizations solve challenging scientific, engineering and business problems using parallel processing and simulations.
Market key trends: One of the key trends driving growth in the HPC market is the increasing adoption of cloud HPC. The pay-as-you-go model of cloud HPC is appealing to organizations as it eliminates upfront capital expenditure and provides access to flexible computing power on-demand. Cloud HPC also enables enterprises to scale HPC workloads without investing in expensive hardware and infrastructure. This is fueling the adoption of HPC-as-a-service solutions for computationally intensive workloads among small and medium enterprises.
Segment Analysis
The high performance computing market is segmented by component, deployment, and end-use. By component, the services segment is dominating the market currently as IT service providers offer a wide range of services including infrastructure management, deployment and integration, and consulting. The services cater to specific needs of organizations helping them address complex business problems.
Key Takeaways
The Global High Performance Computing Market Size is expected to witness high growth, exhibiting a CAGR of 7.5% over the forecast period, due to increasing demand for low-latency computation and parallel processing capabilities across industries.
Regional analysis – North America is currently the dominant region in the high performance computing market. The US government’s continuous support for R&D activities related to HPC is fueling the market growth. Asia Pacific is expected to witness the fastest growth over the forecast period due to growing adoption of HPC solutions across industries in countries like China and India.
Key players – Key players operating in the high performance computing market are NVIDIA Corporation, Advanced Micro Devices Inc., Amazon Web Series, NEC Corporation, Lenovo Group Ltd., Hewlett Packard Enterprise, Dassault Systemes SE, Sugon Information Industry Co. Ltd., Dell Technologies Inc., Fujistu Ltd., Microsoft Corporation, Intel Corporation, and International Business Machines Corporation. NVIDIA dominates the market currently due to its strong product portfolio of graphics processing units well-suited for various HPC applications.
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1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
