The global high-performance computing market was valued at USD 48.55 billion in 2022 and it is predicted to surpass around USD 100.62 billion by 2032 with a CAGR of 7.56% from 2023 to 2032.
Report Scope of the High Performance Computing Market
|Market Size in 2022||USD 48.55 billion|
|Revenue Forecast by 2032||USD 100.62 billion|
|Growth rate from 2023 to 2032||CAGR of 7.56%|
|Forecast Period||2023 to 2032|
|Regions Covered||North America, Europe, Asia Pacific, Latin America, Middle East & Africa|
|Companies Covered||Atos SE; Advanced Micro Devices, Inc; Hewlett Packard Enterprise Development LP; Dell Inc.; Cisco Systems, Inc.; Fujitsu; Intel Corporation; IBM; Microsoft; Amazon Web Services, Inc.|
The growing demand for high-efficiency computing, advancements in virtualization, continued diversification and expansion of the IT industry, and the increasing preference for hybrid high-performance computing (HPC) solutions are the factors that are expected to drive the growth. The capacity of HPC systems to process huge amounts of data at high speeds is encouraging academic institutions, defense agencies, energy companies, government agencies, and the utility sector to adopt HPC systems, which also helps in the expansion of the high-performance computing industry’s growth.
High-performance computing is growing due to the increased use of this technology in government sectors as well as in applications that require solving scientific, complex, and business problems. These uses and applications make it a high-demand and high-investment area. Additionally, HPC is being supported and identified at a higher rate because of its adoption in government, enterprise, and industrial applications. Furthermore, high-performance computing is required due to the adoption of cloud-based high-performance and complex application management.
Factors such as a lack of expertise and the high cost of high-performance computing maintenance remain hindrances to the growth of the industry. Furthermore, one of the restraining factors in the high-performance computing industry is the lack of advancements in high-performance workstations. As the use of HPC systems grows, so do concerns about cyber security. Because multiple entities access HPC systems, data security remains a major concern. As a result, security concerns are expected to limit the growth of the high-performance computing industry.
The opportunities for growth for high-performance computing in various industries in the U.S. continue to increase. HPC has enabled many industries and enterprises to discover new things and innovate their products and services. High-performance computing in aerospace, steel & welding, automotive, consumer packaged goods & manufacturing, weather forecasting, energy consumption and production, finance, healthcare, sports & entertainment, and space research are among the opportunities. High-performance computing systems are also made up of a group of computers whose combined or total power offers high computational capabilities. That is, high-performance computing systems can potentially simplify complex business procedures. As a result, the demand for High-performance computing systems is expected to rise in the forthcoming years.
The rising popularity of cloud computing coupled with the digitization initiatives being adopted by many governments would play a critical role in catapulting the HPC industry growth over the forecast period. For instance, the government of the United Arab Emirates (UAE) has launched digital transformation projects, such as Smart Abu Dhabi and Smart Dubai. These projects would promote the adoption of cloud computing and stimulate the demand for HPC systems. A new system of working from home was implemented because of COVID-19. This system was aided by the high-performance computing industry by resolving many computation power limitations and enhanced with the use of solutions like data analysis.
High Performance Computing Market Segmentations:
|By Component||By Deployment||By End-use|
Banking, Financial Services, and Insurance (BFSI)
Media & Entertainment
Government & Defense
Education & Research
Healthcare & Bioscience