High-performance Computing (HPC) Market Size is Projected to Reach US$ 55.3 Billion by 2028, Growth Rate (CAGR) 5.3%

IMARC Group, a leading market research company, has recently releases report titled “High-performance Computing (HPC) Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028” The study provides a detailed analysis of the industry, including the global high-performance computing market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

Report Highlights

How Big is the High-performance Computing (HPC) Market?

The global high-performance computing (HPC) market size reached US$ 40.2 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 55.3 Billion by 2028, exhibiting a growth rate (CAGR) of 5.3% during 2023-2028.

What is High-performance Computing?

High-performance computing (HPC) involves utilizing advanced computing resources effectively to run intricate application programs. It encompasses a multitude of processors, servers, and microservers specifically engineered for delivering substantial computational power, extensive data storage capacity, and rapid network connectivity. HPC aids in enhancing analytics, accelerating product development cycles, as well as modeling, simulating, and analyzing data. It facilitates exceptional performance capabilities essential for addressing intricate applications such as high-frequency trading, speech and facial recognition, personalized medicine based on genomics, computational fluid dynamics, computer-aided design, pattern recognition, seismic exploration, and tomography. HPC is instrumental in advancing and testing cutting-edge technologies like machine learning (ML), artificial intelligence (AI), and quantum computing. It finds widespread utilization in sectors including aerospace, defense, energy and utilities, banking, financial services and insurance (BFSI), media and entertainment, manufacturing, life science, and healthcare.

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What are the growth prospects and trends in the high-performance computing industry?

The increasing digitalization and rise in data production are having a favorable influence on the worldwide HPC market. HPC systems play a crucial role in this scenario by offering high-performance computing power, extensive data storage capacity, and rapid network connectivity.

Moreover, the market outlook is further enhanced by the growing popularity of cloud-based HPC solutions, which enable organizations to access robust computing resources on demand, eliminating the need for significant investments in hardware and infrastructure. Furthermore, the increasing automation, coupled with the adoption of IoT and other advanced technologies, is driving the demand for more robust and specialized HPC systems worldwide.

Additionally, the expanding healthcare sector and the escalating usage of computed tomography (CT) scanning and magnetic resonance imaging (MRI) in hospitals, where prompt and accurate results are essential, contribute to a favorable market outlook. Moreover, there is an increasing emphasis on energy efficiency, prompting a rise in demand for energy-efficient HPC systems that can deliver high-performance computing while minimizing energy consumption on a global scale.

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What is included in market segmentation?

The report has segmented the market into the following categories:

Breakup by Component:

• Hardware
• Software and Services

Breakup by Deployment Type:

• On-premises
• Cloud-based

Breakup by End Use:

• Aerospace and Defense
• Energy and Utilities
• BFSI
• Media and Entertainment
• Manufacturing
• Life Science and Healthcare
• Others

Breakup by Region:

• North America: (United States, Canada)
• Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America: (Brazil, Mexico, Others)
• Middle East and Africa

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Who are the key players operating in the industry?

The report covers the major market players including:

• Advanced Micro Devices Inc.
• Atos SE
• Cisco Systems Inc.
• Dell Technologies Inc.
• Fujitsu Limited
• Hewlett Packard Enterprise Development LP
• Intel Corporation
• International Business Machines Corporation
• Lenovo Group Limited
• Microsoft Corporation
• NetApp Inc.
• Nvidia Corporation

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Tags: High Performance Computing Market, HPC Market, High Performance Computing Market Share