High Performance Computing Market To Reach USD 75.9 Billion By 2032 | DataHorizzon Research

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The high performance computing market size was valued at USD 41.5 Billion in 2023 and is projected to reach USD 75.9 Billion by 2032 at a CAGR of 6.9%.

Fort Collins, Colorado, May 06, 2024 (GLOBE NEWSWIRE) —

Demand for extensive applications in computing drives the industry’s growth.

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High-performance computing (HPC) encompasses two distinct categories: high-performance technical computing (HPTC) and high-performance business computing (HPBC). HPTC finds extensive application across various disciplines, including science and engineering, and is predominantly utilized by government and military organizations, academic and research institutions, and established businesses in the manufacturing sector. On the other hand, HPBC is well-suited for applications such as fraud detection and gaming and is commonly utilized by financial service providers and logistics firms.

The HPC industry is witnessing expansion primarily driven by the increasing demand from government agencies, defense departments, and manufacturing enterprises. The growing reliance on HPC techniques indicates a promising outlook for the high-performance computing market’s growth.

Several factors are anticipated to drive the growth of the high-performance computing (HPC) market. These include the rising demand for high-efficiency computing, the ongoing diversification and expansion of the IT industry, advancements in virtualization technology, and the increasing preference for hybrid High Performance Computing solutions. Additionally, the adoption of HPC systems by government agencies, defense organizations, academic institutions, energy firms, and utilities is expected to further stimulate market growth. These systems are capable of processing vast volumes of data at high speeds, which is particularly beneficial in addressing challenges faced by various sectors, especially amid the COVID-19 pandemic. 

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Segmentation Overview:

The high performance computing market has been segmented into computation type, component, deployment, and region.

Solutions are the leading segment for high performance computing

  • Based on component, the high performance computing market segmentation comprises solution, and services. Solutions witnessed huge growth in the past, attributed to their popularity and significance for various applications. In addition, several businesses have already invested in HPC solutions to cater to various audiences. The service segment is projected to grow more in the forthcoming years.

Cloud registered a prominent market share in 2023

  • Based on deployment, the HPC market is segmented into cloud and on-premises. The cloud segment registered a positive CAGR in the past years, attributed to its prominence in lowering operational costs and offering better data storage spaces. 

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High Performance Computing Market Report Highlights:

  • The high performance computing market growth is anticipated at a CAGR of 6.9% by 2032.
  • High-performance computing, or HPC, is the technique of solving complex equations more quickly and accurately using multi-function algorithms. 
  • North America is a leading market and is projected to maintain a dominance in the forecast period. It is also anticipated to impact the global economy, particularly on creating and applying new technology. Large amounts of raw data processing are becoming increasingly necessary, but so is the need to have strong security measures in place.
  • Some prominent players in the high performance computing market report include Advanced Micro Devices Inc., NEC Corporation, Hewlett Packard Enterprise, Sugon Information Industry Co. Ltd, Fujitsu Ltd, Intel Corporation, Dassault Systemes SE, Lenovo Group Ltd, Amazon Web Series, NVIDIA Corporation. 

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About DataHorizzon Research:

DataHorizzon is a market research and advisory company that assists organizations across the globe in formulating growth strategies for changing business dynamics. Its offerings include consulting services across enterprises and business insights to make actionable decisions. DHR’s comprehensive research methodology for predicting long-term and sustainable trends in the market facilitates complex decisions for organizations.

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