High Performance Computing Market to Drive Growth at USD 3.87 Billion by 2031
SkyQuest projects that the Global High-performance Computing (HPC) Market size was valued at USD 1.72 billion in 2022 and is poised to grow from USD 1.90 billion in 2023 to USD 3.87 billion by 2031, growing at a CAGR of 10.7% during the forecast period (2024-2031).
Westford, USA, Nov. 25, 2024 (GLOBE NEWSWIRE) — The high-performance computing market growth is primarily due to the increasing demand for virtualization, continuous diversification and expansion of IT industry and the rising adoption of hybrid high-performance computing (HPC) solutions. The ability of high-performance computing to process massive amount of data at high speeds is driving adoption of HPC systems in academic institutions, defence, energy companies as well as government agencies and utility sector, which fuels growth of high-performance computing market. The growing presence of high-performance computing in the government sector, along with its increasing utilization for solving scientific and complex business problems, is expected to fuel market growth. The different usages and applications place it in a high demand, high investment corner. This increase in support and identification for HPC is also due to its usage by government, enterprise and industrial applications. In addition, the trend of using high-performance and complex application management solutions through cloud-based high-performance computing powered is also required.
Request your free sample PDF of the report today:
https://www.skyquestt.com/sample-request/high-performance-computing-market
Browse in-depth TOC on the “Global High Performance Computing Market “
- Pages – 157
- Tables – 64
- Figures – 75
Global High Performance Computing Market Overview:
| Report Coverage | Details |
| Market Revenue in 2023 | $1.90 Billion |
| Estimated Value by 2031 | $3.87Billion |
| Growth Rate | Poised to grow at a CAGR of 10.7% |
| Forecast Period | 2024–2031 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Component, Deployment Type, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, Middle East & Africa, Latin America |
| Report Highlights | Incorporation of AI in HPC to increase technological advancement |
| Key Market Opportunities | Growing popularity of space exploration through HPC |
| Key Market Drivers | Growing number of data centers and cloud services to minimize data complexity |
Increasing Advancement in Hardware Components to Enable HCI Systems to Perform Complex Calculations
The hardware segment is dominating the high-performance computing market in terms of component, with an increase in high performance computing market share. This growth is mainly due to the advancement of hardware. With the rapid progression of technology, different components of the systems like processors, memory, and interconnects are increasingly becoming high performing and efficient. The specialized hardware accelerators like GPU developed and FPGA also increase the computing power. This enables HCI systems to perform complex calculations and process large datasets at unprecedented rates. Hardware vendors are continually trying to come up with better solutions that are customized for the HPC applications that have specific requirements. Therefore, constant improvements in have become a vital pillar for the growth of the HPC market.
For a tailored report, contact us to request a free customization:
https://www.skyquestt.com/speak-with-analyst/high-performance-computing-market
Growing Demand of HPC System in BFSI Sector to Mitigate Cyber Security
In past few years, cyber security has become a serious threat due to an increasing number of digital transactions and financial trading. HPC system has been gaining traction from Banking and financial industry because of its ability convey real time data and complex Mathematical calculations. Thus, many Banks, FinTech and Investment houses are now implementing various Innovative IT solutions towards such operational risks in finance sector. Heavy computation system-oriented algorithms have made it possible for the user to detect fraud and need protection from many types of cyber hackers.
North America to Lead HPC Market due to Presence of Key Players Offering HPC Solutions
North America is dominating the high-performance computation market, with an increasing high performance computing market size. The U.S. and Canada are home to numerous early technology adopters. The accelerated adoption cycle with relatively faster technology advancement has resulted in increased demand for HPC systems by government agencies and private organizations. Some of the key factors driving the growth opportunity of market in North America are presence of major players offering HPC solutions such as IBM and Intel Inc. in U.S., along with government expenditure on research & development (R&D) activities.
High Performance Computing Market Insights
Drivers
- Increasing need for processing large amount of data at high speed
- Growing adoption of HPC in the cloud
- Rising popularity of space exploration through HPC
Restraints
- Growing security concerns about data
- Lack of budget among SMEs
- Inadequate abilities of digital infrastructure
Segments covered in High Performance Computing Market are as follows:
- Component
- Solutions (Server, Storage, Networking Devices, Software), and Services (Design and Consulting, Integration and Deployment)
- Computation Type
- Parallel Computing, Distributed Computing, and Exascale computing
- Deployment
- Cloud, and On-Premises
- Organization Size
- Small and Medium-Sized Enterprises (SMEs), and Large Enterprises
- Vertical
- BFSI, Education and Research, Energy and Utilities, Government and Defense, Healthcare and Life sciences, Manufacturing, Media and Entertainment, and Other application areas
Key Players Operating in High Performance Computing Market
- Advanced Micro Devices, Inc. (AMD) (US)
- Intel Corporation
- HPE
- IBM Corporation
- Dell Technologies Inc.
- Lenovo Group Limited
- NVIDIA Corporation
- Cray Inc.
- Fujitsu Limited
- Bull SAS
- NEC Corporation
- Atos SE
- Cisco Systems, Inc.
Purchase now to gain valuable insights and stay informed: https://www.skyquestt.com/buy-now/high-performance-computing-market
Key Questions Answered in Global High Performance Computing Market Report
- Which region is dominating the market?
- What are the two primary drivers of the market?
- What are the major restraints hampering the growth of the market?
This Report Provides the Following Insights:
- Analysis of key drivers (Increasing need for processing large amount of data at high speed, growing adoption of HPC in the cloud), restraints (Growing security concerns about data, Lack of budget among SMEs), opportunities (Rising popularity of space exploration through HPC), and challenges (Inadequate abilities of digital infrastructure) influencing the growth of high-performance computing market
- Market Penetration: Comprehensive information on the product offered by the top players in the high-performance computing market
- Product Development/Innovation: Detailed insights on the upcoming trends, R&D activities, and product launches in the high-performance computing market
- Market Development: Comprehensive information on lucrative emerging regions
- Market Diversification: Exhaustive information about new products, growing geographies, and recent developments in the market
- Competitive Assessment: In-depth assessment of market segments, growth strategies, revenue analysis, and products of the leading market players.
To read the full report, please visit:
https://www.skyquestt.com/report/high-performance-computing-market
Related Report:
About Us:
SkyQuest is an IP focused Research and Investment Bank and Accelerator of Technology and assets. We provide access to technologies, markets and finance across sectors viz. Life Sciences, CleanTech, AgriTech, NanoTech and Information & Communication Technology.
We work closely with innovators, inventors, innovation seekers, entrepreneurs, companies and investors alike in leveraging external sources of R&D. Moreover, we help them in optimizing the economic potential of their intellectual assets. Our experiences with innovation management and commercialization have expanded our reach across North America, Europe, ASEAN and Asia-Pacific.
Contact:
Mr. Jagraj Singh
SkyQuest Technology
1 Apache Way,
Westford,
Massachusetts 01886
USA (+1) 351-333-4748
Email: sales@skyquestt.com
Visit Our Website: https://www.skyquestt.com/
