The high-performance computing market is projected to grow from USD 42,154.3 million in 2023 to USD 78,254.5 million by 2032, exhibiting a compound annual growth rate (CAGR) of 7.1% during the forecast period (2023 - 2032).
High Performance Computing Market Overview:
Here's an example of a field in which high-performance computing market was put to use. Historically, the defence and aerospace industries have been the primary users of high-performance computing market for navigational instruction and simulation. High-performance computing market is a result of the needs of some business sectors, which necessitate such capabilities. High-performance computing market is being developed primarily by the government sector to meet national defence and security needs.
The expansion of high-performance computing market is spurred on by its increasing application to addressing issues in the public sector, as well as in the scientific and corporate communities. Because of its many potential uses, it has become an attractive investment target. Adoption in governmental, industrial, and corporate settings also contributes to a greater visibility and acceptance of high-performance computing market. Managing high-performance and complicated applications in the cloud also need high-performance computing market.
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Key Players:
Key Companies in the High Performance Computing market include,
- IBM Corporation
- Hewlett Packard Enterprise Company
- Intel Corporation
- Microsoft Corporation
- Cisco Systems, Inc.
- Inspur, Inc.
- Fujitsu Ltd
- Oracle Corporation
- Dell, Inc.
- Dawning Information Industry Co.ltd
- Other Players
Regional analysis:
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa are the five regions that make up the high-performance computing market.
Since 2017, North America has been at the forefront of the industry by commanding the lion's share of the market. North America's strong growth rate is mostly attributed to the continent's advanced technology and the region's burgeoning supercomputing centres. Furthermore, while the United States is the dominant market, other nations like Canada are anticipated to exhibit rapid expansion in the near future.
High-performance computing is a rapidly expanding industry, with Asia-Pacific being one of the fastest-growing markets. High-performance computing is becoming increasingly popular for use in weather forecasting and related fields of study, which is a major contributor to the market's rapid expansion.
Market Segmentation:
The market for high-performance computing is divided into the following categories depending on the component, deployment, vertical, and geography.
The worldwide HPC market is segmented into solutions, servers, and services based on components. In 2017, the high-performance computing market was led by the server sector. It is projected to expand at a CAGR of 12%. However, networking equipment is anticipated to develop at the quickest rate.
Based on deployment, the high-performance computing market is split into cloud-based and on-premises segments. Since 2017, the market has been dominated by the category of on-premise deployment. It is anticipated that high-performance computing marketing will use some of the cloud's fastest-growing deployment techniques in the future years.
The high-performance computing market is segmented by application into manufacturing, BFSI, government, healthcare, gaming, retail, IT and telecommunication, education, transportation, and others. Since 2017, the BFSI segment has controlled the market and is predicted to continue to do so with a compound annual growth rate of 8%. During the predicted period of 2017 to 2023, the IT and telecommunications, as well as the healthcare sectors, are anticipated to have the most market growth.
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All of these important key companies play a significant role in the growth and dynamics of the high-performance computing industry. These big essential actors choose from a variety of methods, including new manufacturing techniques, collaborations, technology that widens the scope of current items, partnerships, and so on.
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