Latest News - High Performance Computing (HPC) Market: Server is expected to lead the Component segment during 2023-2027

The High Performance Computing (HPC) Market is being driven by Increasing utilization of big data analytics

The High Performance Computing (HPC) Market is expected to grow at a CAGR of 7.1% during 2022 and 2027. During this period, the market is also expected to show a growth of USD 16.63 billion. In the dynamic business landscape of High Performance Computing (HPC), cloud adoption is a significant trend. Cloud-based HPC enables organizations to procure computing resources on-demand, bypassing the need for substantial upfront investment in hardware and software infrastructure. Major cloud service providers, such as Amazon Web Services (AWS), Microsoft Azure, and Google Cloud Platform, fuel this trend through their expanding offerings of high-performance virtual machines and storage solutions. The affordability and accessibility of these services are key catalysts for this market's continued growth. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Component
  • Server
  • Storage
  • Application
  • Services
  • Middleware
• Deployment
  • On-premise
  • Cloud
• Geography
  • APAC
    • China
    • Japan
  • North America
    • US
  • Europe
    • France
    • Germany
  • South America
  • Middle East and Africa

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Increasing utilization of big data analytics
• High demand from government sector owing to national security concerns
• Development of smart cities using supercomputers

However, the market also witnesses some limitations, which are as follows:

• High investments and costs associated with HPC systems
• Technical issues regarding HPC systems
• Short lifecycle of supercomputers

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Market Scope in High Performance Computing (HPC) Market Research Report

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Research Analysis Overview

The High Performance Computing (HPC) market is experiencing significant growth due to the increasing computational demand from various sectors. The HPC consortium is at the forefront of this development, driving advancements in Frontier supercomputer technology towards exascale computing. Use cases for HPC span across industries, including Computer-aided Engineering, Economic growth through Technologies like Electronic Design Automation, Artificial Intelligence, and Cyber security concerns. Hardware providers like NEC Corporation are key players in this market, offering solutions for Media and entertainment and Next-Generation Sequencing in Genomics research. The shift towards cloud-based HPC is also gaining momentum, with companies like SambaNova Systems providing Windows and Linux-based solutions. Despite the benefits, cyber security concerns remain a challenge in the adoption of HPC. Overall, the HPC market continues to evolve, offering immense potential for innovation and progress.

Market Research Overview

In the broader context of the global information technology market, Technavio identifies the High Performance Computing (HPC) market as a segment of the technology hardware, storage, and peripherals sector. This market encompasses manufacturers of servers, electronic components, and peripherals for HPC applications. Revenue for this market is derived from sales of hardware, equipment, and components. Key growth drivers include increasing demand for data-intensive applications and advancements in cloud computing technology. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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Email: media@technavio.com
Website: www.technavio.com/