Semiconductor Segment Is The Largest Segment Driving The Growth Of The High Performance Computing Market
The global High Performance Computing Market is estimated to be valued at US$ 36.33 Bn in 2023 and is expected to exhibit a CAGR of 7.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
High performance computing solutions offer superior computing power through parallel processing. These solutions are capable of performing trillions of calculations per second and are majorly used by industries such as BFSI, government agencies, and research institutions for applications such as weather forecasting, drug discovery, and molecular modelling.
Market key trends:
One of the key trends in the high performance computing market is the increasing adoption of cloud-based HPC solutions. Cloud HPC solutions offer on-demand access to computational and storage resources, simplified procurement, and pay-as-you-go pricing model. Industries are increasingly adopting cloud HPC solutions as they help reduce upfront capital costs and provide scalability and flexibility. For instance, according to a Flexera report, 43% of organizations were using public cloud for HPC workloads in 2020, up from 29% in 2019. The increasing popularity of cloud HPC is expected to drive the growth of the high performance computing market during the forecast period.
SWOT Analysis
Strength: High performance computing enables solving complex problems and analyzing large amounts of data at faster speed. It has applications in various sectors like oil & gas, healthcare, automotive, and manufacturing.
Weakness: High performance computing systems require substantial upfront investments and have high power consumption. Maintaining such advanced systems also results in increased operational costs.
Opportunity: Growing demand for high performance computing from sectors like bioscience is opening up new revenue opportunities. Adoption of cloud HPC is also simplifying access and reducing infrastructure costs.
Threats: Continued dominance of few globally established players poses stiff competition for new entrants. Also, vulnerabilities in system security can compromise sensitive data.
Key Takeaways
The Global High Performance Computing Market Size is expected to witness high growth, exhibiting CAGR of 7.5% over the forecast period, due to increasing demand from sectors such as automotive, healthcare and manufacturing for product designing and testing.
Regional analysis: North America dominated the global market in 2023, accounting for over 35% share. However, Asia Pacific is projected to witness fastest growth due to increasing investments by countries like China, Japan and India to boost supercomputing capabilities. Growing outsourcing of HPC activities to Asian countries is further driving the regional market.
Key players: Key players operating in the high performance computing market are NVIDIA Corporation, Advanced Micro Devices Inc., Amazon Web Series, NEC Corporation, Lenovo Group Ltd., Hewlett Packard Enterprise, Dassault Systemes SE, Sugon Information Industry Co. Ltd., Dell Technologies Inc., Fujistu Ltd., Microsoft Corporation, Intel Corporation, and International Business Machines Corporation. The market is highly competitive with leading players focusing on advancing processor technologies and expanding product portfolios.
Read More: https://cmiresearch.blogspot.com/2023/12/the-increased-use-of-ai-and-deep.html
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