What Has Been the Growth of the Next Generation Computing Market So Far?
The next generation computing market has seen considerable growth due to a variety of factors.
• The market size for next-generation computing has seen rapid expansion in the recent past. The projected growth will see it rise from $277.04 billion in 2024 to $327.17 billion in 2025, boasting a compound annual growth rate (CAGR) of 18.1%.
The significant growth observed during the historical period can be ascribed to factors such as the development of consumer electronics, issues related to cybersecurity, the proliferation of mobile computing, the increasing need for high-performance computing, and advancements in networking infrastructure.
What Are the Future Growth Projections for the Next Generation Computing Market?
The next generation computing market is expected to maintain its strong growth trajectory in upcoming years.
• The market size for next-generation computing is projected to undergo swift expansion in the ensuing years, with projections indicating a growth to $667.19 billion in 2029, representing a compound annual growth rate (CAGR) of 19.5%.
Factors contributing to this anticipated growth within the forecast period encompass the escalating complexity of workloads, emphasis on eco-friendly computing, state-funded research investments, and advances in human augmentation. Significant trends anticipated during the forecast period include the integration of AI and machine learning, neuromorphic computing, in-memory computing, the implementation of hybrid cloud and multi-cloud computing as well as the development of dynamic data analytics and visualization.
What Are The Core Factors Supporting Growth In The Next Generation Computing Market?
The progression of the artificial intelligence adoption is projected to spur the expansion of the next-generation computing industry. Integration of AI technology and solutions into various applications, business sectors, and industries refers to the adoption of Artificial Intelligence (AI). It is used to improve decision-making processes, automate tasks, increase efficiency, and fulfill particular goals. The expanding use of AI—particularly machine learning and deep learning—requires enormous computational capabilities. This requirement propels the invention of advanced technologies such as quantum and neuromorphic computing. These advanced solutions can conduct complex AI functions faster and more efficiently than traditional computing methods. For instance, the International Business Machines Corporation, a US-based technology firm, reported that artificial intelligence adoption in business rose to 35% in 2022, an increase of 4% from 2021. In addition, 13% more organizations will utilize AI in 2022 compared to 2021. Consequently, the growing embrace of artificial intelligence fosters the expansion of the next-generation computing industry. A rise in manufacturing activities is another factor predicted to fuel the expansion of the next-generation computing market. Manufacturing involves the conversion of raw components into finished products by utilizing tools, labor, machinery, and chemical processes. Next-gen computing technologies have become pivotal to contemporary manufacturing. They provide enhanced efficiency, precision, and flexibility throughout the entire production cycle. For example, according to Statistics Canada, a government agency based in Canada, in February 2023, Canada's manufacturing sector witnessed a significant surge. Total sales of the sector rose by 17.9%, hitting $850.9 billion in 2022. As a result, escalating manufacturing activities contribute to the progress of the next-generation computing industry.
What Are The Major Segments Within The Global Next Generation Computing Market?
The next generation computing market covered in this report is segmented –
1) By Type: High Performance Computing, Quantum Computing, Brain Type Computing, Approximate And Probabilistic Computing, Energy Efficiency Computing, Thermodynamic Computing, Memory Based Computing, Optical Computing, Edge Computing, Other Types
2) By Component: Hardware, Software, Solution
3) By Deployment: Cloud, On-Premise
4) By Enterprise Size: Small And Medium-Sized Enterprises (SMEs), Large Enterprises
5) By End-Use Industry: Banking, Financial Services And Insurance (BFSI), Energy And Power, Transportation And Logistics, Chemicals, Academic, Government, Information Technology (IT) And Telecommunications, Healthcare, Space And Defense, Manufacturing
Subsegments:
1) By High Performance Computing: Supercomputers, Distributed Computing Systems
2) By Quantum Computing: Quantum Annealers, Gate Model Quantum Computers
3) By Brain Type Computing: Neuromorphic Computing, Spiking Neural Networks
4) By Approximate And Probabilistic Computing: Stochastic Computing, Probabilistic Programming
5) By Energy Efficiency Computing: Low-Power Processors, Green Computing Solutions
6) By Thermodynamic Computing: Thermal Management Systems, Thermodynamic Models
7) By Memory Based Computing: In-Memory Computing, Memristor Technology
8) By Optical Computing: Photonic Processors, Optical Interconnects
9) By Edge Computing: Edge Devices, Edge Analytics
10) By Other Types: Hybrid Computing, Reversible Computing
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What New Trends Are Influencing The Next Generation Computing Market?
Leading corporations involved in the next-generation computing industry are creating cutting-edge technologies, such as integrated hybrids, in order to meet rising demand for more robust, energy-saving, and diverse computational solutions. Integrated Hybrid, a component of Azure Quantum, provides researchers with the ability to meld classical and quantum computing resources with ease. In March 2023, for example, Microsoft Corporation, a technology firm based in the United States, introduced a novel generation of hybrid quantum computing known as Integrated Hybrid. This trailblazing technology incorporates Azure Quantum's feature, enabling researchers to effortlessly combine classical and quantum computing resources. This simplicity enables the development and implementation of hybrid quantum computing applications. This platform minimizes the inherent complexities of different hardware infrastructures, enabling researchers to concentrate on the creation of their applications.
Who Are the Key Players In The Next Generation Computing Market?
Major companies operating in the next generation computing market report are:
• Amazon Web Services Inc.
• Alphabet Inc.
• Google LLC
• Microsoft Corporation
• Alibaba Group Holding Limited
• Dell Inc.
• Lenovo Group Ltd.
• Intel Corp.
• International Business Machines Corporation
• Cisco Systems Inc.
• Oracle Corporation
• Honeywell International Inc.
• Broadcom Inc.
• SAP SE
• Micron Technology Inc.
• Hewlett Packard Enterprise Development LP
• NVIDIA Corp.
• Salesforce
• NEC Corporation
• Advanced Micro Device Inc.
• Infosys Limited
• VMware Inc.
• Atos SE
• Equinix Inc.
• NetApp Inc.
• Juniper Networks Inc.
• Citrix Systems Inc.
• Splunk Inc.
• Pure Storage Inc.
• Nutanix Inc.
• ISM Corporation
What Is The Most Dominant Region In The Next Generation Computing Market?
North America was the largest region in the next generation computing market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the next generation computing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
