High Performance Computing Market to reach $90 Bn by 2032, Says Graphical Research Powered by GMI
High performance computing industry size is expected to register 5% CAGR between 2023 and 2032 propelled by the increased adoption of HPC technology in government sectors.
Selbyville, Delaware, May 31, 2023 (GLOBE NEWSWIRE) — High Performance Computing Market is expected to accrue USD 90 billion by 2032, as per a recent study by Global Market Insights Inc.
The increasing use of cloud computing and digitization initiatives undertaken by various governments will act as a major factor influencing HPC industry trends. For instance, the United States government inaugurated its new Digital Transformation with Africa initiative at the Africa Leaders Summit in December 2022. The initiative focuses on expanding digital access and strengthening the technological environment in the region. In addition, the high-performance projects consisting of two HPCs facilitate and enhance research in the fields of bioinformatics, large-scale ecosystem analysis, spatial statistics, and phylogenetic analysis, driving product adoption further.
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Increasing complexity in computers to augment software demand
Based on component, the high performance computing market revenue from software segment will cross USD 25 billion by 2032 on account of increasing complexity in computing systems that support converging HPC, AI, analytics, modeling, and simulation workloads. HPC providers are also focused on creating both system software and application software to manage the system configuration, driving the overall demand for HPC software.
Manufacturing sector to dominate high performance computing industry landscape
With respect to application, the high performance computing market is classified into BFSI, manufacturing, healthcare and life science, media and entertainment, government, automotive, geoscience, education and research, and others. The manufacturing segment will exhibit more than 5% CAGR from 2023 to 2032, driven by several advantages of HPCs in computing fluid dynamics, mechanical engineering, and electrical equipment. These computers improve performance, increase computing speed, and provide faster access to data, pushing product use in the sector.
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Asia Pacific to emerge as a key market for high-performance computing solutions
Asia Pacific high performance computing market size is slated to reach over USD 20 billion by the end of 2032. The rising popularity of HPC system, especially in China is expected to drive the product demand. The supportive R&D initiative in the field will augment business growth. China is a leading producer of supersystems such as Sunway TaihuLight and Milkyway-2. The National University of Defense Technology of China developed Tianhe-2 (Yinhe-2), funded by the Guangzhou Municipal Government and the Guangdong Provincial Government.
High performance computing market key players
Some of the key players profiled in the HPC industry report include Advanced Micro Devices Inc., ARM Limited, Atos SE, Dell Technologies Inc., Cisco Systems Inc., Fujitsu Limited, Huawei Technologies Co., Ltd., Hewlett Packard Enterprise, IBM, NVIDIA Corporation, Intel Corporation, and NEC Corporation. These firms focus on strategic acquisitions & mergers and invest in R&D programs to stay ahead in the industry.
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