The global high performance computing (HPC) market size is projected to reach USD 53.65 billion by 2027 and registering a CAGR of 6.5% during the forecast period from 2020 to 2027, according to a new report by Million Insights. HPC is categorized into High-Performance Business Computing (HPBC) and High-Performance Technical Computing (HPTC). HPTC has high adoption inengineering field for simulation, modelling, and computational fluid dynamics. Further, it also finds application on educational and research institutions, manufacturing industry, government and defence agencies among others. On the other hand, HPBC is used for gaming and fraud detection. Further, financial service providers and logistics companies are also adopting HPBC. Therefore, rising demand for HPC among government departments, manufacturing companies, and defence agencies are expected to drive the market growth over the next few years.
HPC is a cluster of computers that solve critical problems, equations, and run long algorithms accurately compared to traditional computing. Conventionally, HPC was preferred by aerospace and navigation industries. However, rising adoption of cloud computing, emergence of new technologies such as artificial intelligence, diversification of the IT industry and growing need for business analytics is major factor expected to drive the market growth across the globe.
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Data centres require an architecture that can process large data at a significant speed where HPC plays an important role in such data centres to process such data. Further, numerous organizations are adopting HPC to process a large amount of data at high speed and simplify their complex equations more accurately. Academic and research institutions are also using HPC systems to manage their operations efficiently during the initial stages of research.
HPC system hasability to execute high-end research projects which was impossible earlier. HPC systems are helpful across several fields like electromagnetism, structural analysis, geophysics statistics, computational biology, genetics, mathematical modelling, medicine, nuclear physics, astrophysics, and others. Additionally, high efficiency of HPC helps researchers for undertaking research activities like human genome mapping & modelling, deep neural networks, artificial intelligence, and others.
Key players operating in the high performance computing market are focusing on offering advanced solutions to cater to end-users demand. This solution comprises management of tools and basic configurations that are easy to deploy and also capable of managing changing workloads. On the other hand, budget constraints at SMEs, lack of awareness, and security concerns are some of the other factors expected to hamper the market growth.
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Further key findings from the report suggest:
• In 2019, on premise segment held the largest market share wherein the cloud segment is projected to grow at the highest CAGR of 7.6% over the forecast period. This growth is attributed to its benefits such as scalability, cost-effectiveness, ease of deployment, and high security.
• In 2019, the government and defence segment accounted for the largest market share and projected to grow with the highest CAGR from 2020 to 2027. Growing adoption of HPC in aircraft simulation,encryption and decryption of confidential information, and surveillance are factor expected to drive the segment growth in the next few years.
• North America market is expected to witness significant growth during the forecast period due to the technological advancement in computing. U.S. holds more than 70% of the North America HPC market, in 2019 and expected to lead during the forecast period.
• Key industry players are adopting several strategies such as collaborations and partnerships to strengthen their position in the competitive market. For example, in 2019, Intel Corporation announced strategic partnership with Oracle. This partnership aims to Oracle will integrate Intel’s Optane DC persistent memory into its next-generation platforms.
Million Insights has segmented the global High Performance Computing (HPC) market on the basis of component, deployment, end-use, and region:
High Performance Computing Component Outlook (Revenue, USD Billion, 2016 – 2027)
• Networking Devices
High Performance Computing Deployment Outlook (Revenue, USD Billion, 2016 – 2027)
High Performance Computing End-use Outlook (Revenue, USD Billion, 2016 – 2027)
• Banking, Financial Services, and Insurance (BFSI)
• Media & Entertainment
• Government &Defense
• Education & Research
• Healthcare & Bioscience
High Performance Computing Regional Outlook (Revenue, USD Billion, 2016 – 2027)
• North America
• The U.S.
• The U.K.
• Asia Pacific
• Latin America
• The Middle East & Africa
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