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Jun 10, 2024, 11:45 ET
BANGALORE, India, June 10, 2024 /PRNewswire/ — High Performance Computing Market is Segmented by Type (Software and Service, Hardware), by Application (Government & Defense, Banking, Financial Services, and Insurance, Earth Sciences, Education & Research, Healthcare & Life Sciences, Energy & Utilities, Gaming, Manufacturing).
The Global High Performance Computing Market was valued at USD 31970 Million in 2023 and is anticipated to reach USD 70180 Million by 2030, witnessing a CAGR of 10.7% during the forecast period 2024-2030.
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Major Factors driving the growth of High-Performance Computing Market
The demand for more sophisticated computing capacity to manage big data analytics, complicated scientific research, and large-scale simulations in industries like manufacturing, healthcare, and finance is fueling the expansion of the high-performance computing (HPC) industry. Demand is also greatly increased by the growth of machine learning and artificial intelligence (AI), as these technologies need powerful processing power to train models and analyze large amounts of data. Further propelling market expansion are developments in cloud computing and the increasing use of HPC-as-a-service models, which make high-performance computing more affordable and accessible for a wider variety of companies and academic institutions.
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TRENDS INFLUENCING THE GROWTH OF HIGH-PERFORMANCE COMPUTING MARKET
Hardware developments are a major driver of the growth of the high-performance computing (HPC) industry in the government & defense and banking, financial services, and insurance (BFSI) sectors. High-end processors, specialized GPUs, and secure, high-capacity storage solutions are required in government and defense to provide reliable and secure HPC systems that can handle sophisticated simulations, real-time data processing, and enhanced cybersecurity measures. Similar to this, the BFSI industry adopts cutting-edge hardware due to the need for quick data processing and analysis for applications like real-time fraud detection, risk management, and high-frequency trading. For these tasks, high-performance CPUs, quick memory, and low-latency storage options are essential.
The market for high-performance computing, or HPC, is mostly driven by the government and defense industries. In order to preserve national security and enhance defense technology, strong simulation, analytical, and modeling capabilities are essential. Sophisticated simulations of a wide range of situations, such as combat zones, military operations weather forecasts, and testing of new defense technology, are made possible by HPC computers. Intelligence agencies need to be able to quickly handle and evaluate large volumes of data in order to identify and neutralize threats. Moreover, strong cybersecurity measures are needed due to the increasing complexity of cyber threats, and HPC systems are crucial for this. Artificial intelligence (AI) and machine learning (ML) are used with high-performance computing (HPC) in defense applications to improve predictive analytics and enable proactive threat identification and response.
High-performance computing is essential to the banking, financial services, and insurance (BFSI) industry’s data-intensive processes. Real-time data processing and analysis is made possible by HPC systems, which is essential for fraud detection, risk management, and high-frequency trading. Every day, the financial markets produce vast volumes of data, and the capacity to interpret this data quickly offers organizations a competitive edge. High-performance computing (HPC) systems enable intricate financial modeling and simulations, assisting in the evaluation of investment risks and returns. Furthermore, comprehensive data analysis and reporting are necessary for regulatory compliance, and HPC can effectively handle these tasks. The incorporation of blockchain technology and the growth of fintech both need significant processing power. The BFSI industry is becoming more and more dependent on HPC systems as AI and big data analytics are incorporated into it.
High-performance computing is essential for increasing scientific knowledge and innovation in the fields of education and research. HPC systems are used by universities and research centers for many different purposes, such as physics simulations, genetic research, and climate modeling. By enabling academics to manage intricate calculations and examine substantial information, these technologies quicken the rate of innovation and discovery. In multidisciplinary research, where several scientific domains must converge, high performance computing (HPC) is essential. The simulations and data analysis that HPC systems provide are often essential to the creation of novel materials, medications, and technologies. Furthermore, academic institutions are incorporating high-performance computing (HPC) into their courses to provide students practical experience and prepare them for careers in business and research.
High-performance computing is being adopted by the healthcare and life sciences industry more and more to improve clinical procedures and research. Large-scale data processing is needed in fields like bioinformatics, genomics, and personalized medicine, and these fields depend heavily on HPC computers. For example, in genomics, large computer power is required for the sequencing of the human genome and the processing of genetic data. The creation of targeted medicines and the discovery of genetic markers are made easier by HPC’s ability to handle complicated biological data. By providing real-time image processing and analysis, high-performance computing (HPC) facilitates improved imaging techniques in clinical settings, including MRI and CT scans. Moreover, HPC helps in medication research and discovery by simulating molecular interactions and modeling medicinal molecules.
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HIGH PERFORMANCE COMPUTING MARKET SHARE ANALYSIS
The top four manufacturers of high performance computing globally are Lenovo, Dell, HPE, and AWS, together holding 40% of the industry.
With a market share of over 48%, North America leads the worldwide high performance computing industry. Europe and China come in second and third, respectively, with a combined market share of over 37%.
Its applications are many and include banking, financial services, insurance, education & research, government & defense, and education.
Regarding product kinds, they are separated into Software and Services and Hardware, accounting for 58.31% and 41.69% of the total, respectively.
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Key Companies:
● Hewlett Packard Enterprise (HPE)
● IBM
● DAWN
● Inspur
● Microsoft
● Atos
● Huawei
● Ali Cloud
● DataDirect Networks
● NetApp
● Fujitsu Limited
● Penguin
● GOOGLE INC
● NEC
● Amazon AWS
● Dell Inc
● Lenovo
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DISCOVER MORE INSIGHTS: EXPLORE SIMILAR REPORTS!
– High Performance Computing (HPC) Services Market
– Cloud High Performance Computing (HPC) market was valued at USD 6862.1 Million in 2023 and is anticipated to reach USD 14620 Million by 2030, witnessing a CAGR of 11.3% during the forecast period 2024-2030.
– High-performance Computing System market is projected to reach USD 64890 Million in 2029, increasing from USD 31970 Million in 2022, with a CAGR of 10.7% during the period of 2023 to 2029.
– High Performance Computing (HPC) Storage Market
– High Bandwidth Memory (HBM) Market was estimated to be worth USD 767.1 Million in 2023 and is forecast to a readjusted size of USD 4902.4 Million by 2030 with a CAGR of 25.5% during the forecast period 2024-2030.
– Enterprise High Performance Computing Solutions market is projected to reach USD 432.2 Million in 2029, increasing from USD 286 Million in 2022, with a CAGR of 6.1% during the period of 2023 to 2029.
– High-Performance Computing as a Service (HPCaaS) Market
– AI High Performance Computing Chip Market
– High Performance Computing Cluster (HPCC) Market
– Commercial High Performance Computing market was valued at USD 25330 Million in 2022 and is anticipated to reach USD 42480 Million by 2029, witnessing a CAGR of 9.0% during the forecast period 2023-2029.
– High Performance Computing for Automotive market was valued at USD 1238.4 Million in 2023 and is anticipated to reach USD 2316.6 Million by 2030, witnessing a CAGR of 9.4% during the forecast period 2024-2030.
– High Performance Computing Technology market was valued at USD 32080 Million in 2023 and is anticipated to reach USD 65140 Million by 2030, witnessing a CAGR of 10.5% during the forecast period 2024-2030.
– On-Board High Performance Computing System In Passenger Vehicles Market
– Silicon Photonics in High Performance Computing and Telecommunications market size is projected to reach USD Million by 2028, from USD Million in 2021, at a CAGR of % during 2022-2028.
– The high performance computing (hpc) chipset market was valued at USD 5.7 Billion in 2022, and is estimated to reach USD 29.4 Billion by 2032, growing at a CAGR of 17.9% from 2023 to 2032.
– High Performance Computing Software and Service market was valued at USD 14740 Million in 2023 and is anticipated to reach USD 30310 Million by 2030, witnessing a CAGR of 10.0% during the forecast period 2024-2030.
– High Performance Computing for Academic and Government market was valued at USD 18260 Million in 2022 and is anticipated to reach USD 30120 Million by 2029, witnessing a CAGR of 8.7% during the forecast period 2023-2029.
– High Performance Plastics for Semiconductor Equipment market is projected to reach USD 262.4 Million in 2029, increasing from USD 186.4 Million in 2022, with a CAGR of 5.0% during the period of 2023 to 2029.
– High Performance Embedded Box IPC Market
– High-Performance Enterprise Solid State Drives (SSDs) market is projected to reach USD 53050 Million in 2029, increasing from USD 37190 Million in 2022, with a CAGR of 5.8% during the period of 2023 to 2029.
– High Performance Fiber Channel Switches Market
– HMC & HBM market was valued at USD 2415 Million in 2023 and is anticipated to reach USD 11110 Million by 2030, witnessing a CAGR of 24.2% during the forecast period 2024-2030.
– High Performance Cloud Server Market
– High Performance Discrete Graphics Card market is projected to reach USD 137470 Million in 2029, increasing from USD 51810 Million in 2022, with the CAGR of 15.1% during the period of 2023 to 2029.
– High Performance Computing (HPC) Storage Market
– Vehicle-Mounted High-Performance Computing Platform Market
– Commercial High-performance Computing Servers market was valued at USD 15820 Million in 2023 and is anticipated to reach USD 26180 Million by 2030, witnessing a CAGR of 6.5% during the forecast period 2024-2030.
– High Performance General Purpose Scalable Processor market was valued at USD 42000 Million in 2023 and is anticipated to reach USD 63930 Million by 2030, witnessing a CAGR of 6.2% during the forecast period 2024-2030.
– Cloud Managed Networking market was valued at USD 5610 Million in 2023 and is anticipated to reach USD 14190 Million by 2030, witnessing a CAGR of 13.8% during the forecast period 2024-2030.
– The data center chip market was valued at USD 11.7 Billion in 2022, and is estimated to reach USD 45.3 Billion by 2032, growing at a CAGR of 14.6% from 2023 to 2032.
– Next Generation Computing Market
– Automotive High-Performance Computer Market
– Cloud Computing market was valued at USD 173030 Million in 2022 and is anticipated to reach USD 804820 Million by 2029, witnessing a CAGR of 29.2% during the forecast period 2023-2029.
– Smart Retail market was valued at USD 7383.7 Million in 2023 and is anticipated to reach USD 9679.1 Million by 2030, witnessing a CAGR of 4.0% during the forecast period 2024-2030.
– AI Server PCB market size is expected to reach USD 197.4 Million by 2029, growing at a CAGR of 12.0% from 2023 to 2029.
– The global market for Wafer Cleaning Equipment was estimated to be worth USD 4202.4 Million in 2023 and is forecast to a readjusted size of USD 5754.1 Million by 2030 with a CAGR of 5.5% during the forecast period 2024-2030.
– Engineering Cost Cloud Market
– Cloud Database market size is projected to reach USD 68720 Million by 2027, from USD 7054.4 Million in 2020, at a CAGR of 38.2% during 2021-2027.
– The global artificial intelligence market size was valued at USD 65.48 Billion in 2020, and is projected to reach USD 1,581.70 Billion by 2030, growing at a CAGR of 38.0% from 2021 to 2030.
– Cloud Security market size is projected to reach USD 16230 Million by 2028, from USD 4322.2 Million in 2021, at a CAGR of 20.7% during 2022-2028.
– The cloud storage market size was valued at USD 46.12 Billion in 2019, and is projected to reach USD 222.25 Billion by 2027, growing at a CAGR of 21.9% from 2020 to 2027.
– The global single board computer market was valued at USD 2.86 Billion in 2019, and is projected to reach USD 3.80 Billion by 2027, registering a CAGR of 4.6% from 2020 to 2027.
– The global Fog Computing market size is projected to reach USD 539.8 Million by 2026, from USD 40 Million in 2019, at a CAGR of 44.3% during the forecast period 2021-2026.
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