Chicago, Nov. 22, 2023 (GLOBE NEWSWIRE) -- The High performance computing (HPC) market size is expected to grow from USD 36.0 billion in 2022 to USD 49.9 billion by 2027, at a CAGR of 6.7%. The market growth can be attributed to several factors, such as increasing demand for Cloud based HPC in applications such as media & entertainment.
MarketsandMarkets, a renowned market research firm, has released a comprehensive report on the High-Performance Computing (HPC) Market, providing insights into the market's key segments, growth drivers, challenges, opportunities, and key players. The HPC market, characterized by diverse components, computation types, industries, deployment options, server price bands, verticals, and regions, is on a trajectory of substantial growth.
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Key Segments:
This multifaceted market includes components such as servers, storage, networking devices, software, and more. Computation types span Parallel Computing, Distributed Computing, and the groundbreaking Exascale Computing. Industries benefiting from HPC solutions range from Healthcare and BFSI to Manufacturing and Retail. Deployment options include On-Premises, Cloud, and Hybrid solutions, while server price bands offer flexibility to cater to varying needs. Various verticals and regional factors contribute to the market's dynamic landscape.
Growth Drivers:
The HPC market's impressive growth is attributed to several key drivers. The advent of Exascale Computing is propelling HPC into new frontiers, unlocking possibilities for scientific research, simulations, and more. The demand for HPC surges with the increasing use of AI and machine learning across various industries, including healthcare, finance, and autonomous vehicles. HPC plays a pivotal role in conducting complex scientific research, simulations, and modeling, driving growth across the scientific community. Nations and industries are investing heavily in HPC to gain a competitive edge in technology and innovation, and the COVID-19 pandemic highlighted the importance of HPC for drug discovery, epidemiology, and healthcare research.
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Challenges:
While the HPC market flourishes, it also faces challenges, including the costs and infrastructure required for implementation and maintenance. Handling vast amounts of data necessitates stringent data security and privacy measures, and there is a shortage of skilled professionals in HPC, posing a challenge for implementation and operation.
Opportunities:
The HPC market presents numerous opportunities, from integrating emerging technologies like quantum computing to increasing adoption in industries such as healthcare, finance, and autonomous vehicles. The global expansion of HPC capabilities fosters opportunities for market growth.
Key Players:
The High performance computing (HPC) companies include Advanced Micro Devices (US), Intel (US), HPE (US), IBM (US), Dell (US), Lenovo (China), Fujitsu (Japan), Atos (France), CISCO (US), and so on.
The HPC market is on an extraordinary growth trajectory, with applications spanning scientific research, AI, and various industries. Key players in the market continue to innovate to meet evolving demands and seize new opportunities.
