Global High Performance Computing Market Drivers:
Growing need of processing large amount of data with high speed to boost the market growth
Enterprises with large amount of data required to be managed and processed are focusing on analyzing this data to support decision-making process. End-users are also looking for this in order to gain a competitive edge in the market. For instance, a pharmaceutical firm arriving early in the market will gain profits in the market. Several enterprises don’t have tools for analyzing such large amounts of data, and organization that are highly data driven are observing major improvements in decision-making compared to organization relying less on data. Thus, need for data processing with high speed is increasing among several organization, which in turn is driving the demand for HPC systems. This in turn is expected to augment growth of the global high performance computing market over the forecast period.
Growing adoption of HPC in the cloud to fuel the market pace
The use of cloud in HPC in terms of storage is increasing significantly, which is further driving research firms and enterprises to adopt a ‘cloud-first’ policy, which helps them with cost benefits with the use of cloud instead of expansion of their data centers with expenditures, such as data and cluster management, cooling, and requirements for certification. Due to this increasing use of HPC in the cloud, the number of compute infrastructure on-premise is reducing significantly. HPC is known to be one of the key expenses among businesses; however, with the cloud innovation, the cost of technology is being reduced and expansion of the technology reach is increasing due to the availability of the solution. These factors in turn are thus expected to boost growth of the global high performance computing market over the forecast period.
Global High Performance Computing Market Opportunities:
Growing advancements in HPC driving the digital transformation across several sectors is likely to bring multiple growth opportunities in the global high performance computing market during the forecast period. Fields, such as climate studies and weather forecasting, precision medicine, oil and gas exploration, and manufacturing and engineering are digitally being transformed by increased scalability, productivity, ease of use, and offering support to companies in operating more cost-effectively. All this can be attributed to increasing advancements in HPC. For instance, the Academy of Finland revealed its plans to conduct a funding call in August 2021 to increase research in HPC and quantum computers, in order to increase the use of EuroHPC supercomputing infrastructure. Thus, this in turn will bring growth opportunities in the global high performance computing market during the forecast period.
Increasing use of HPC systems in life science organization is anticipated to create lucrative environment for growth opportunities in the global high performance computing market during the forecast period. Several life science companies are redefining their approach to diagnosis, treatment, and care delivery for patients, owing to high-performance computing capabilities. Among these applications, HPC-driven simulations are leading to an increasing shift in precision medicine, as companies are leaving a one-size-fits-all approach to healthcare for a more effective and faster model of patient-centric research. These factors in turn are bring several lucrative opportunities in the global high performance computing market.
Global High Performance Computing Market Restraints:
Security concerns of data to impede the market growth
High performance computing systems are growing majorly due to the Big Data analytics field, as the HPC techniques are being used as a major paradigm for facilitating significant data processing. However, the increasing concerns linked to safety and legitimate utilization of this data is a key restrain in the market growth. The concerns regarding use of sensitive among businesses are growing, while government and public regulations are also increasing. These factors are expected to hinder the global high performance computing market over the forecast period.
Lack of budgets among SMEs to hinder the market pace
The lack of awareness regarding benefits of HPC, and limited budgets among potential SME users is a major factor hinder growth of the global high performance computing market. SMEs in several emerging nations face hesitancy to adopt high performance computing systems due to requirement of high capital for installation of these systems. Several of these enterprises lack awareness regarding benefits of HPC systems, such as customizable delivery and high performance. Thus, these factors in turn are likely to hinder growth of the market. However, the use of HPC among SMEs is likely to grow due to cloud computing, which is likely to support the market growth in the near future.
High Performance Computing Market Report Snapshots
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