Pune, India, Aug. 13, 2018 (GLOBE NEWSWIRE) -- Market Research Future’s in-depth market study on the global HPC Market to witness an above-average compound annual growth rate during the forecast period (2017-2023). The market size is expected to reach close to 50 Bn towards the end of 2023. Burgeoning data-driven business operations necessitating high-performance computing capabilities.
HPC Market
Enterprises are generating massive amounts of data, which also creates the need for computational solutions and capabilities to manage or handle them. Businesses are aiming to leverage high-performance computing (HPC) to overcome various traditional and new age issues. HPC is finding widespread application in training and simulation, defense and aerospace and navigation technologies. Many of the other industrial verticals are also placing requirements for high-performance capabilities to increasing their operational output. In 2017, the global for high performance computing market was valued at around USD 31 Bn and the figure is likely to increase to nearly 50 Bn by the 2023, reflecting a CAGR of 8%.
The public sector is also utilizing HPC to deliver better governance and improve public services. Today, data is viewed as the all-important tool to increase efficiency where HPC is playing a crucial role. Developers are actively focusing of creating HPC platforms that can effectively resolve complex problems present in the fields of science and business.
Enterprises are utilizing data to gain insights and carry out statistical calculations. Growing application opportunities in the defense sector is providing an impetus to the high performance computing market. Apart from national security, the HPC is also proving to be beneficial for the automotive manufacturing industry. Carmakers are using high performance computing platforms for developing new vehicle design. HPC is also used for high-resolution image processing, cryptographic analysis and satellite mapping. Industrial verticals in advanced countries are the early adopters of HPC. This, in turn, is helping them to enhance their product and services in multiple ways and develop new solutions.
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Steel and welding, energy, aerospace, healthcare, automotive, finance, aeronautics, meteorology are some of the major sectors that are likely to increase the utilization of HPC in the near future. The fast adoption of HPC in both public and private sector is supporting the growth of the market. Advances in technology is driving the need for robust application management system and high computational capabilities, which is driving the adoption of HPC. Nonetheless, the high cost of HPC system installation coupled with low availability of expertise is likely to have a negative impact on the market during the forecast period.
Market Segmentation: Insights
MRFR’s report offers a detailed segmental analysis of the global high performance computing market on the basis of component, verticals and deployment. By components the market has been segmented into storage, software, server, and networking devices. Among these, the server segment accounted for the largest market share in 2017. During the forecast period, the segment is expected to increase at a double-digit CAGR. By deployment, the market has been segmented into on-cloud and on-premise. The on-premise segment currently holds the top position. This mainly owing to high on-premise deployment of HPC. Meanwhile, the on-cloud segment is projected to exhibit a relatively higher CAGR during the review period. By vertical, the market has been segmented into transportation, IT & telecommunications, manufacturing, energy & utilities, BFSI, healthcare, retail, and others. In 2017, the BFSI segment held the largest market and is projected to increase at a CAGR of 8%. Segments such as IT & telecommunication and healthcare are also expected to remain highly lucrative owing new application opportunities in IT & telecommunication and healthcare.
North America to remain the Leading Market for HPC Over 2023
On the basis of region, the market has been segmented into Asia Pacific (APAC), Europe, North America and the rest of the world (RoW). The HPC Market in North America is expected to remain highly profitable during the assessment period. Currently, North America commands the largest share of the global market. Presence of leading technology companies and fast adoption of advanced technologies is creating growth opportunities for market players. Moreover, greater availability of supercomputing facilities is reflecting favorably on the regions market. The U.S. is likely to remain an important destination for market players operating in the region. The APAC is projected to witness the fastest growth during the assessment period. A fast expansion of various industrial verticals and robust urbanization in counties such as China, India and Indonesia is partly driving the adoption of various cutting-edge technologies including HPC in region’s industrial verticals.
Competition Tracking
IBM Corporation, Microsoft Corporation, Intel Corporation, Hitachi Ltd, Advanced Micro Devices, Inc., Hewlett Packard Enterprise Company, Dell, Inc., Oracle Corporation, Fujitsu Ltd, and Cisco Systems, Inc. are some of the leading companies profiled in MRFR’s report.
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Industry News
- Drizti, a Toronto based startup has recent introduced an advanced desktop-centric cloud HPC platform - HPCBOX. The platform is basically designed for automating and performing application pipeline.
- Israel based Mellanox Technologies, Ltd., a provider of high-performance, end-to-end interconnect solutions for storage systems and data center servers recently announced that its system-on-a-chip (SoC) “Mellanox BlueField” will be used in the new generation MiTAC HillTop NVMe.
Related Report
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