High Performance Computing Market worth $69.88 Billion by 2028

Overview and Scope
High-performance computing refers to a system or device with the capacity to analyze data and carry out intricate computations at high speed by establishing a dependable, rapid IT infrastructure capable of storing, processing, and analyzing vast volumes of data for various applications such as academic institutions, government agencies, businesses, engineering, and others.

Sizing and Forecast
The high performance computing market size has grown strongly in recent years. It will grow from $44.18 billion in 2023 to $48.12 billion in 2024 at a compound annual growth rate (CAGR) of 8.9%. The growth in the historic period can be attributed to expanding data analytics and big data processing, advancements in parallel processing, increased demand in financial services.

The high performance computing market size is expected to see strong growth in the next few years. It will grow to $69.88 billion in 2028 at a compound annual growth rate (CAGR) of 9.8%. The growth in the forecast period can be attributed to growing demand for high-fidelity simulation, climate modeling and sustainability, continued expansion in genomics and bioinformatics. Major trends in the forecast period include cybersecurity and threat detection, exponential growth in AI and deep learning, expansion of cloud-based HPC services, integration of artificial intelligence (AI), focus on energy efficiency.

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The high performance computing market covered in this report is segmented –

1) By Data Type: Structured, Unstructured, Semi Structured
2) By Component: Software, Hardware, Services
3) By Organization Size: Small and Medium-sized Enterprises (SMEs), Large Enterprises
4) By Deployment Type: Cloud, On-premises
5) By Industry Vertical: Government and Defense, IT and Telecom, Banking and Finance, Transportation and logistics, Retail and Consumer goods, Media and Entertainment, Others

North America was the largest region in the high-performance computing market in 2023 and is expected to be the fastest-growing region in the forecast period. The regions covered in the high performance computing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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Major Driver Impacting Market Growth
The emerging need for high-speed data processing with accuracy is driving the high-performance computing market. When data is processed, it is gathered and converted into useable information. It is critical that data processing is done appropriately and faster so that the result, or data output, is not harmed. HPC allows users to analyze massive volumes of data faster than a regular computer, resulting in faster insights and allowing enterprises to remain ahead of the competition. For instance, in August 2023, according to Statistics Canada, a Canada-based national statistical agency, in 2022, Internet usage among Canadians aged 15 years and older surged to 95%, marking an increase from 92% in 2020, continuing the upward trend in online engagement. Therefore, the rising need for high-speed data processing with accuracy will propel the high-performance computing market growth.

Key Industry Players
Major companies operating in the high performance computing market report are Microsoft Corporation, Dell Inc., Huawei Technologies Co. Ltd., Amazon Web Services Inc., Lenovo Group Ltd., Intel Corporation, Hewlett Packard Enterprise Development LP, The International Business Machines Corporation, Cisco Systems Inc., NVIDIA Corporation, Fujitsu Limited, NEC Corporation, Advanced Micro Devices Inc., Atos SE, Dassault Systèmes SE, Super Micro Computer Inc., Sugon Information Industry Co. Ltd., Cray Inc., Mellanox Technologies Ltd., Inspur Group, DCX USA LLC, Eurotech S.p.A., One Stop Systems Inc., Rescale Inc., Penguin Computing Inc., Bright Computing Inc., Ultipa Inc., Saras Micro Devices, OSNEXUS Corporation, Quantinuum, Strangeworks Inc., GigaIO Inc., Silicon Graphics International Corp., Parallel Machines

The high performance computing market report table of contents includes:

1. Executive Summary

2. High Performance Computing Market Characteristics

3. High Performance Computing Market Trends And Strategies

4. High Performance Computing Market – Macro Economic Scenario
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32. Global High Performance Computing Market Competitive Benchmarking

33. Global High Performance Computing Market Competitive Dashboard

34. Key Mergers And Acquisitions In The High Performance Computing Market

35. High Performance Computing Market Future Outlook and Potential Analysis

36. Appendix

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