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| Global High Performance Computing Market Size |
The 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 involves the use of supercomputers and parallel
processing techniques for solving complex computational problems.
Supercomputers allow researchers and engineers to perform computationally
intensive tasks such as modeling molecular interactions for drug discovery,
simulating nuclear weapons testing, predicting global climate change, analyzing
Big Data generated through Internet of Things devices, and developing
innovative materials. Advances in processing power, memory, and parallel
processing have enabled high performance computing solutions to tackle problems
that were previously unsolvable.
Market Dynamics:
Two major drivers contributing to the growth of the high performance computing
market include growing adoption across industries for product development and
research applications, and increasing investments by governments worldwide in
R&D projects involving HPC solutions. Governmental agencies across
countries are recognizing the importance of HPC infrastructure to remain
competitive in critical domains. For instance, in 2021, the U.S. government
allocated $1.8 billion towards development of a exascale supercomputer called
Frontier by 2023. Such large scale investments by governments globally to boost
scientific research through HPC is fueling market growth. Additionally,
industries are increasingly utilizing HPC for accelerated product design and
development, molecular modeling, materials simulation, and predictive analytics
which requires massive computational resources. HPC allows simulation of
real-world scenarios virtually to optimize performance and reduce costs
associated with physical prototyping and testing.
Segment Analysis
The Global
High Performance Computing Market Size is primarily segmented into
servers, storage, networking devices, software, and services. Among these, the
servers segment dominated the global market in 2021 with a share of over 40%.
Servers provide reliable and fast computing for various HPC applications such
as weather forecasting, drug discovery, genomic research, and scientific
simulations. Major server OEMs such as IBM, Dell, and HPE have specialized
product lines for HPC servers which achieve high-performance through innovative
cooling solutions and use of accelerators such as GPUs.
PEST Analysis
Political: Governments across major countries are increasing their investments
in supercomputing infrastructure to boost national research. For instance, the
U.S. National Strategic Computing Initiative aims to maintain global leadership
in HPC.
Economic: The global HPC market size was valued at US$ 36.33 Bn in 2023 and is expected to grow at a CAGR of 7.5% during 2023-2030. Growth
is attributed to increasing R&D expenditures across industries.
Social: HPC is improving research capabilities for pressing issues like climate
change modeling, renewable energy design, and disease research. This is
increasing social acceptance and priority for HPC.
Technological: Advances in processor architecture from ARM, x86 and GPU
accelerators are enabling exascale supercomputing abilities. Adoption of
converged and hyperconverged infrastructure is also improving HPC efficiencies.
Key Takeaways
The global high performance computing market is expected to witness high
growth, exhibiting a CAGR of 7.5%
over the forecast period, due to increasing R&D expenditures across industries.
The market size for 2023 is estimated at US$
36.33 Bn.
North America held the largest share of over 35% in the global HPC market in
2023 led by strong government support and early technology adoption in the US.
However, Asia Pacific is projected to grow at the fastest rate during the
forecast period led by China, India, and Japan investing heavily in national
HPC programs to boost research capabilities.
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. Major players are focusing on developing specialized HPC platforms
with advanced processors, networking, and software to gain market share.
Read More: https://www.newsanalyticspro.com/high-performance-computing-market-growth/