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.
How Big is the High Performance Computing Market?
The global high-performance computing 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) is a cutting-edge technology that facilitates the processing of vast amounts of data and complex computations at unprecedented speeds. It involves the use of powerful supercomputers or clusters of computers working in parallel to solve intricate problems, model simulations, and perform data analysis. HPC is instrumental in tackling challenges that are beyond the capabilities of traditional computing systems, making it an indispensable tool for various industries. HPC empowers organizations to attain remarkable performance gains, enabling faster decision-making and innovative problem-solving by leveraging parallel processing and specialized architectures. As a result, it finds extensive applications in the finance, healthcare, and oil and gas industries across the globe.
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What are the growth prospects and trends in the high performance computing industry?
At present, the rapid expansion of big data and the Internet of Things (IoT) is leading to an exponential increase in data generation, necessitating advanced computing solutions to process and analyze data effectively, represents one of the key factors supporting the growth of the market.
As organizations are striving to extract actionable insights from massive datasets, the demand for HPC systems is rising. Additionally, HPC plays a pivotal role in enabling artificial intelligence (AI) and machine learning (ML) applications, which is bolstering the growth of the market.
Besides this, the growing need to accelerate training times and optimize neural networks in the corporate sector is offering a favorable market outlook.
What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Component:
- Software and Services
Breakup by Deployment Type:
Breakup by End Use:
- Aerospace and Defense
- Energy and Utilities
- Media and Entertainment
- Life Science and Healthcare
Market 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
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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