High Performance Computing Market to Reach Valuation of USD 50.3 Billion by 2028 - An Increasing Demand for Cloud-Based HPC in Applications such as Media & Entertainment are Driving the Market Growth

In terms of revenue, the Global High Performance Computing Market is probable to reach USD 50.3 Billion by 2028, growing at a Compound Annual Growth Rate (CAGR) of 6.20% from 2022 to 2028.

The increasing investments in the Industrial Internet of Things, artificial intelligence (AI), and engineering, which demand electronic design automation (EDA), are likely to drive the market over the forecast period. Additionally, the increasing demand for high speed and accurate data processing, the rising prominence of cloud computing with digitalization, and the rising need to streamline business processes are the other major factor for the growth of the High Performance Computing Market during the forecast period.

Key Highlights from the Report:

• The USD 250,000 – 500,000 and above sub-segment is anticipated to grow at a substantial Compound Annual Growth Rate (CAGR). The USD 250,000 – 500,000 and above segment is projected to grow at the highest Compound Annual Growth Rate (CAGR) during the forecast period. These systems are developed based on state-of-the-art HPC infrastructures to solve highly complex problems in the shortest time and are driving market growth. They comprise many connected computing nodes with distributed memory, which are controlled by a single master unit.

• The SMEs sub-segment holds a substantial market share in 2021. Organizations having an employee base of rarer than 1,000 people can be termed SMEs. Desktop computers are inefficient in fulfilling the computational and storage demand for high-end applications in SMEs. Consequently, SMEs are shifting toward solutions that can cater to their high-computational demands. Furthermore, SMEs face intense competition from large enterprises; thus, to gain a competitive edge, they are increasingly deploying HPC solutions that aid them in increasing productivity, and the trend is expected to continue during the forecast period.

• Asia Pacific is the fastest regional segment. The Asia Pacific region is projected to be the fastest-growing markets for High Performance Computing during the forecast period. Moreover, the factors for such a fast-growing market are owing to the growing acceptance of High Performance Computing for weather forecasting and research activities during the forecast period.

Market Dynamics:

The increasing demand for high speed and accurate data processing, the rising prominence of cloud computing with digitalization, and the rising need to streamline business processes are the other major factor for the growth of the High Performance Computing Market during the forecast period. Faster computing capabilities of micro servers or HPC systems, improved performance efficiency, and smarter deployment & management with high quality of service are some key factors driving the growth of the HPC market.

Additionally, various vendors are also targeting to provide high-performance converged technology solutions, as this trend is gaining significant relevance, the market is growing steadily and it would continue its growth in the future. Furthermore, Information Technology teams are working to find a balance between High Performance Computing solutions for the cloud and on-premises, while cloud service providers are offering turn-key High Performance Computing solution ecosystems tailored to organizations' specific workflow requirements. Thus, the increasing importance of digitization and cloud computing is anticipated to increase Global High Performance Computing Market revenue growth.

North America is the largest market. The North American region is known for its advanced technologies initial adoption of this is driven by healthy technology development in the United States and Canada. Moreover, the surge in massive data propels the need for security and this implementation of new technologies and, therefore, leads to the implementation of HPC systems during the forecast period. North America is likely to endure dominating the global market of HPC during the forecast period.