Next Generation Computing Market Size, Insights Forecast, Growth, Trends 2024-2033

Overview and Scope

Next-generation computing refers to developing hardware and software that can address the challenges of data processing, transfer rates, and energy efficiency. It is used for various applications across various domains and industries due to its advanced capabilities and potential to solve complex problems.

Sizing and Forecast

The next generation computing market size has grown rapidly in recent years. It will grow from $232.77 billion in 2023 to $277.04 billion in 2024 at a compound annual growth rate (CAGR) of 19.0%. The growth in the historic period can be attributed to consumer electronics evolution, cybersecurity concerns, mobile computing, demand for high-performance computing, networking infrastructure advances..

The next generation computing market size is expected to see rapid growth in the next few years. It will grow to $553.26 billion in 2028 at a compound annual growth rate (CAGR) of 18.9%. The growth in the forecast period can be attributed to increasing complexity of workloads, focus on sustainable computing, government investments in research, human augmentation.. Major trends in the forecast period include ai and machine learning integration, neuromorphic computing, in-memory computing, hybrid cloud and multi-cloud computing, robust data analytics and visualization..

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Segmentation & Regional Insights

The next generation computing market covered in this report is segmented –

1) By Type: High Performance Computing, Quantum Computing, Brain Type Computing, Approximate And Probabilistic Computing, Energy Efficiency Computing, Thermodynamic Computing, Memory Based Computing, Optical Computing, Edge Computing, Other Types
2) By Component: Hardware, Software, Solution
3) By Deployment: Cloud, On-Premise
4) By Enterprise Size: Small And Medium-Sized Enterprises (SMEs), Large Enterprises
5) By End-Use Industry: Banking, Financial Services And Insurance (BFSI), Energy and Power, Transportation And Logistics, Chemicals, Academic, Government, Information technology (IT) And Telecommunications, Healthcare, Space And Defense, Manufacturing

North America was the largest region in the next generation computing market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the next generation 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 expansion in the adoption of artificial intelligence is expected to propel the growth of the next-generation computing market going forward. The adoption of artificial intelligence (AI) refers to integrating AI technologies and solutions into various industries, businesses, and applications to enhance decision-making, automate tasks, improve efficiency, and achieve specific objectives. The growing use of AI, especially machine learning and deep learning, demands substantial computational power, driving the development of next-gen technologies like quantum and neuromorphic computing to perform complex AI tasks more efficiently and quickly than traditional computing methods. For instance, in May 2022, according to the International Business Machines Corporation, a US-based technology corporation, the adoption of artificial intelligence in businesses increased to 35% in 2022, up by 4% compared to 2021. Moreover, 13% more organizations will use AI in 2022 compared to 2021. Therefore, the expansion in the adoption of artificial intelligence will drive the growth of the next-generation computing market.

Key Industry Players

Major companies operating in the next generation computing market report are Amazon Web Services Inc., Alphabet Inc., Google LLC, Microsoft Corporation, Alibaba Group Holding Limited, Dell Inc., Lenovo Group Ltd., Intel Corp., International Business Machines Corporation, Cisco Systems Inc., Oracle Corporation, Honeywell International Inc., Broadcom Inc., SAP SE, Micron Technology Inc., Hewlett Packard Enterprise Development LP, NVIDIA Corp., Salesforce, NEC Corporation, Advanced Micro Device Inc., Infosys Limited, Vmware Inc., Atos SE, Equinix Inc., NetApp Inc., Juniper Networks Inc., Citrix Systems Inc., Splunk Inc., Pure Storage Inc., Nutanix Inc., ISM Corporation

The next generation computing market report table of contents includes:

1. Executive Summary
2. Next Generation Computing Market Characteristics
3. Next Generation Computing Market Trends And Strategies
4. Next Generation Computing Market – Macro Economic Scenario
5. Global Next Generation Computing Market Size and Growth
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32. Global Next Generation Computing Market Competitive Benchmarking
33. Global Next Generation Computing Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Next Generation Computing Market
35. Next Generation Computing Market Future Outlook and Potential Analysis
36. Appendix