High Performance Computing Market Size By Component (Solutions and Services), By Deployment Type (On-Premise and Cloud-Based), By Server Price Band (USD 250,000â€“500,000 and Above and USD 250,000â€“100,000 and Below), By Application Area (Government & Defense, Education & Research, Banking, Financial Services, and Insurance (BFSI), Media and Entertainment, Healthcare & Bioscience, Energy & Utilities, Gaming, and Others), By Geographic Scope And Forecast
High Performance Computing Market Insights
According to Verified Market Research, the Global High-Performance Computing (HPC) Market was valued at USD 32,520.94 Million in 2020 and is projected to reach USD 55,866.78 Million by 2028, growing at a CAGR of 7.31% from 2021 to 2028.
The High Performance Computing Market report provides a holistic evaluation of the market for the forecast period. The report comprises various segments as well as an analysis of the trends and factors that are playing a substantial role in the market. These factors; the market dynamics involve the drivers, restraints, opportunities, and challenges through which the impact of these factors in the market are outlined. The drivers and restraints are intrinsic factors whereas opportunities and challenges are extrinsic factors of the market. The High Performance Computing Market study provides an outlook on the development of the market in terms of revenue throughout the prognosis period.
Global High Performance Computing Market Overview
The critical factor supporting the growth of the HPC market is the ability of HPC solutions to process vast amounts of data with speed and accuracy. The increasing need for high-efficiency computing in different industries that include finance, medical, research, geological exploration & analysis, and government and defense is a key growth driver for the high-performance computing market. The growing need in these fields for accelerated processing of data with high precision is one of the major factors driving the growth of the HPC market. Additionally, the growing popularity of cloud computing, coupled with the digitization initiatives being adopted by numerous governments, would play a critical role in catapulting the market growth over the forecast period. Moreover, expansion of the IT industry, advancements in virtualization, and continued diversification are some of the factors anticipated to drive the growth of the market.
The adoption of HPC in cloud computing is driving the global High Performance Computing Market. Scalability, flexibility, and availability are some of the advantages of using cloud computing systems. Cloud HPC offers numerous benefits such as low maintenance costs, elasticity, and economies of scale. In addition to this, HPC in the cloud provides the opportunity to create a wider community of enterprises that are new to high-end computing, thereby assisting them in leveraging the benefits of low Operational Expenditure (OPEX) and overcoming the challenges of power and cooling.
Therefore, the growing adoption of HPC in the cloud is anticipated to fiercely drive the High Performance Computing Market. Moreover, faster computing capabilities of micro-servers or HPC systems, improved performance efficiency, and smarter deployment & management with high quality of service are some key factors driving the growth of the HPC market.
There are certain restraints and challenges faced which will hinder the overall market growth. The factors such as lack of a skilled workforce and the absence of standards and protocols are limiting the market growth. Also, with the growing use of HPC, data security concerns are also increasing. Furthermore, HPC environments are clustered, which makes them vulnerable to many threats. Since clustered HPC systems are heterogeneous in nature, they entail several management systems to operate. This slows down the implementation of security policies and security patch management processes. As a result of this, vulnerabilities remain unremediated.
Therefore, security concern inhibits the growth of the market. cooling system management and storage & data management, lack of knowledge, and limited budget among SMEs is the potential restraints hampering the overall growth of the global High Performance Computing Market. Nevertheless, with the increasing advancements in technology, organizations today are focusing on hybrid HPC solutions. A hybrid HPC solution results in better efficiencies, therefore, the increasing focus on hybrid HPC solutions is expected to provide lucrative opportunities for the growth of the High Performance Computing Market.
Global High Performance Computing Market: Segmentation Analysis
The Global High Performance Computing Market is segmented based on Component, Deployment Type, Server Price Band, Application Area, and Geography.
Global High-Performance Computing (HPC) Market by Component
Based on Component, the market is bifurcated into Solutions and Services. Solutions accounted for the largest market share in 2020. The main cause of boosting the growth of the HPC market is the capability of HPC solutions to process a huge volume of data with speediness and correctness. Further, expansion of the IT industry and increasing preference for hybrid High-Performance Computing (HPC) solutions are some of the other factors anticipated to drive the growth of the market
High Performance Computing Market by Deployment Type
On the basis of Deployment, the Global High-Performance Computing (HPC) Market has been segmented into On-Premise and Cloud-Based. On-Premise accounted for the largest market share in 2020 is projected to grow at a CAGR of 6.33% during the forecast period. The elements that can be attributed as the governments stay keen on acquiring sensitive data linked to the national security and personal data of the citizens, enterprises are anxious about the security of their respective administrative data. As a result, on-premise infrastructure is being chosen over a cloud-based. Such aspects are projected to increase the development of the on-premise segment in the upcoming years.
High Performance Computing Market by Server Price Band
- USD 250,000500,000 and Above
- USD 250,000100,000 and Below
Based on Server Price Band, the market is bifurcated into USD 250,000500,000 and Above and USD 250,000100,000 and Below. The USD 250,000100,000 and below segment holds the largest market share. The price varies from industry to industry. Large enterprise requires high-performance computers to store information whereas cloud deployment helps organizations in minimizing their operational costs, as they do not have to invest in any additional computing resource. Thus, the server price brands vary accordingly.
High Performance Computing Market by Application Area
- Government & Defense
- Education & Research
- Banking, Financial Services, and Insurance (BFSI)
- Media and Entertainment
- Healthcare & Bioscience
- Energy & Utilities
On the basis of the Application Area, the Global High-Performance Computing (HPC) Market has been segmented into Government & Defense, Education & Research, Banking, Financial Services, and Insurance (BFSI), Media and Entertainment, Healthcare & Bioscience, Energy & Utilities, Gaming, and Others. Government & Defense accounted for the largest market share in 2020 is projected to grow at a CAGR of 8.13% during the forecast period. Rising governments investing in novel technologies for military and defense, law enforcement, Securities & Exchange Commission for detection of the risk of frauds, identification of the trading violations is supporting the growth of high-performance computing market.
High Performance Computing Market by Geography
- Asia Pacific
- Rest of the world
On the basis of regional analysis, the Global High-Performance Computing (HPC) Market is classified into North America, Europe, Asia Pacific, and the Rest of the world. North America is expected to hold the largest market share of the High-Performance Computing (HPC) Market over the forecast period followed by Europe. The increasing demand for research and discoveries is demanding the need for the HPC to manage and analyze the data in an efficient and rapid manner. Also, the strong foothold of the HPC companies in the region is another factor driving the growth of the North America HPC Market.
|Base year considered||2020|
|Forecast period considered||2021-2028|
|Base year market size||32,520.94 $ Million|
|Market size forecast||55,866.78 $ Million|
|Units considered||$ Million|
|Segments covered||Component, Deployment Type, Server Price Band, Application, And Geography.|
|Industry covered||Data Center & Networking|
Key Players In High Performance Computing Market
The Global High Performance Computing Market study report will provide a valuable insight with an emphasis on the global market. The major players in the market are The major players in the market Advanced Micro Devices Inc., Hewlett Packard Enterprise, Intel Corporation, International Business Machines (IBM) Corporation, NEC Corporation, Sugon Information Industry Co. Ltd, Fujistu Ltd, Microsoft Corporation, Dell Technologies Inc., Dassault Systemes SE, Lenovo Group Ltd, Amazon Web Series, and NVIDIA Corporation.
Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with its product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.
High Performance Computing Market Report Scope
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