High Performance Computing Market Market to Depict the High Demand from ---- Sector Over 2021-2027
High performance computing (HPC) refers to the additional computing power gained from aggregation of various processors for solving complex problems with high speeds. It is used by scientists for studying large data volumes and gleaning insights by implementing new techniques that require decision-making in current times. HPC plays the same role of a supercomputer and employed in industries of aerospace, defense, and navigation systems. The global high performance computing market report by Market Research Future (MRFR) unveils new trends in integration of services and its application for the forecast period (2020-2027). The COVID-19 outbreak and its role in the industry has been included in the report.
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Market Scope:
The global high performance computing market is set to exhibit 8% CAGR over the forecast period. The growth is facilitated by use of HPC for resolving complex problems in cryptography, satellite mapping, advanced vehicles, and high-resolution image processing. Computing of data with high precision in fields of finance and healthcare by using algorithms can bode well for the market. The huge demand for hybrid solutions and scaling of HPC resources by enterprises can drive the market growth. Shift to cloud can facilitate the adoption rate of high performance computing among large industries. Large sales of supercomputers and divisional machines coupled with cloud setups capable of high performance computing can bode well for the market.
The COVID-19 outbreak has propelled innovation in HPC with consortiums being formed to aggregate the computing power of various supercomputers to gain insights on experimental data accumulated from various COVID-19 cases. It has been utilized to great effect for development of therapies and treatments for patients detected with the virus. Moreover, applications of HPC in cybersecurity, green vehicles, and climate change can widen the ambit of the market.
But lack of expert personnel and advances in high performance workstations can hamper market growth.
Segmentation:
By component, it is segmented into networking devices, storage, server, and software. The server is expected to display 12% CAGR over the forecast period.
By deployment, the market is divided into on-premise and on-cloud. The on-premise deployment is expected to dominate over the forecast period owing to abundance of space and capability of personnel in managing large data centers.
By vertical, it is segmented into transportation, IT & telecommunications, energy & utilities, manufacturing, healthcare, BFSI, and others. The healthcare segment is bound to be lucrative for the HPC market owing to its implementation in next generation sequencing, simulation, modeling, and data management.
Regional Analysis:
North America, Europe, Asia-Pacific, and Rest of the World (RoW) are major regions covered in the high performance computing market.
North America is estimated to dominate the market owing to modernization of existing infrastructure and installation of HPCs to gain advantage by leading companies in their respective industries. Adoption of new technologies for improvement of productivity and efficiency in processes can bode well for the regional high performance computing market.
APAC is likely to display a strong growth rate during the forecast period owing to developments of supercomputers and its applications in solving problems in various industries. Rapid digitalization in the healthcare sector owing to the COVID-19 pandemic and modernization of existing infrastructure can drive regional market growth. Expansion of its applications in quantum computing and data analytics can widen the prospects of the HPC market in the region.
Europe can be beneficial to the high performance computing market owing to investments in supercomputers and large application in the healthcare sector.
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Competition Analysis:
Hewlett Packard Enterprise Company, Intel Corporation, Microsoft Corporation, Oracle Corporation, Dell, Inc., Advanced Micro Devices, Inc., IBM Corporation, Hitachi Ltd, Cisco Systems, Inc., and Fujitsu Ltd are key players of the high performance computing market.
Industry news:
SiPearl and Graphcore have entered into a new partnership to support artificial intelligence workloads of supercomputers. The alliance can propel the innovation of AI and HPC and develop accurate simulation and prediction models.
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