Global High Performance Computing Market Opportunities 2024, Forecast To 2033
25 Sep, 2024
The high-performance computing market is on an upward trajectory, increasing from $44.18 billion in 2023 to $48.12 billion in 2024, with a CAGR of 8.9%. This growth stems from advancements in data analytics and demand in financial services. By 2028, the market is expected to reach $69.88 billion, growing at a CAGR of 9.8% due to rising needs for climate modeling and bioinformatics. Key trends include cybersecurity advancements and the expansion of cloud-based services.
Major Driver In The High Performance Computing Market
The burgeoning requirement for high-speed and accurate data processing is a key driver propelling the growth of the high-performance computing (HPC) market. Efficient data processing is crucial for converting gathered data into usable information without compromising the output quality. HPC enables the rapid analysis of massive data volumes, surpassing the capabilities of regular computers and providing faster insights, allowing enterprises to maintain a competitive edge. In August 2023, Statistics Canada reported a surge in Internet usage among Canadians aged 15 years and older, reaching 95% in 2022, up from 92% in 2020. This upward trend in online engagement underscores the increasing need for high-speed data processing, positioning the HPC market for growth in 2023, 2024, and 2028.
Request A Free Sample Of The Global High Performance Computing Market ReportHigh Performance Computing Market Competitive Landscape
Microsoft Corporation, Dell Inc., Huawei Technologies Co. Ltd., Amazon Web Services Inc., Lenovo Group Ltd., Intel Corporation, Hewlett Packard Enterprise Development LP, The International Business Machines Corporation, Cisco Systems Inc., NVIDIA Corporation, Fujitsu Limited, NEC Corporation, Advanced Micro Devices Inc., Atos SE, Dassault Systèmes SE, Super Micro Computer Inc., Sugon Information Industry Co. Ltd., Cray Inc., Mellanox Technologies Ltd., Inspur Group, DCX USA LLC, Eurotech S.p.A., One Stop Systems Inc., Rescale Inc., Penguin Computing Inc., Bright Computing Inc., Ultipa Inc., Saras Micro Devices, OSNEXUS Corporation, Quantinuum, Strangeworks Inc., GigaIO Inc., Silicon Graphics International Corp., Parallel Machines
Key High Performance Computing Market Trend
Major companies operating in the high-performance computing market are focusing on strategic collaboration to provide advanced solutions and innovations. Strategic collaboration refers to a mutually beneficial partnership between two or more independent entities that work together to achieve shared goals aligned with their individual strategic objectives. For instance, in July 2023, HCLTech, an India-based technology company, announced a collaboration with Microsoft, a US-based technology company. Through this collaboration, they aim to offer high-performance computing (HPC) solutions to clients across diverse sectors. HCLTech intends to educate 3,000 professionals within three years and establish an exclusive lab acting as a center of excellence (CoE) in partnership with Microsoft. These solutions will integrate HCLTech's adeptness in advanced engineering services with Microsoft's Azure cloud HPC technologies. The collaboration aims to grant clients access to HPC resources, encompassing foundational infrastructure, advanced analytics, machine learning, and simulation capabilities.
Get The Full Global High Performance Computing Market Report
High Performance Computing Market Segmentation
The high performance computing market covered in this report is segmented –
1) By Data Type: Structured, Unstructured, Semi Structured
2) By Component: Software, Hardware, Services
3) By Organization Size: Small and Medium-sized Enterprises (SMEs), Large Enterprises
4) By Deployment Type: Cloud, On-premises
5) By Industry Vertical: Government and Defense, IT and Telecom, Banking and Finance, Transportation and logistics, Retail and Consumer goods, Media and Entertainment, Others
By Geography:The regions covered in the high performance computing market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
North America was the largest region in the high-performance computing market in 2023 and is expected to be the fastest-growing region in the forecast period. The regions covered in the high performance computing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The High Performance Computing Global Market Report 2024 furnishes information about the global high performance computing market, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.