High Performance Computing Market, By Component (Hardware, and Software and Services), By Deployment Type (On-premise, and Cloud), By Industrial Application (Aerospace and Defense, Energy and Utilities, BFSI, Media and Entertainment, Manufacturing, Life Science and Healthcare, and Other Industrial Applications), and By Geography (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa)

Published In : May 2023

Code : CMI5686

Pages :160

Formats :

Excel and PDF

Industry : Information and Communication Technology

High Performance Computing MarketSize and Trends

The global high performance computing market size was valued at US$ 31.92 Billion in 2022 and is anticipated to witness a compound annual growth rate (CAGR) of 7.5% from 2023 to 2030. The major factors driving growth include increasing adoption of hybrid HPC solutions, expanding IT industry, and technological advancements in virtualization. Growing need for faster data processing with high accuracy is expected to boost revenue of the global market. This trend is fueled by government-led digitalization programs and rising acceptance of cloud technology. Moreover, rising automation in various industries is further boosting the growth of the market.

Figure 1. Global High Performance Computing Market Share (%), By Region, 2023

Global High Performance Computing Market Trends:

Growing popularity of space exploration through HPC is a growing trend in the market

Space exploration through high performance computing has become a multifaceted and exciting research field, which is currently trending. For instance, NASA partnered with Hewlett Packard Enterprise (HPE) for launching the first HPC system into space, with a mission called Spaceborne Computer. NASA makes use of leading-edge technology for collecting, analyzing, and transmitting large amount of data and derive intelligence insights rapidly. To execute these tasks, HPC capabilities are essential. In June 2021, Fujitsu exhibited the feasibility of its high-performance analyses with commercial applications utilized widely in the industrial space for including fluid dynamics. This trend is likely to continue in the market in the coming years.

Growing smart cities development is a recent trend

Increasing development of smart cities is driving the collaborative nature between companies in the tech world, for the demand for HPC in urban spaces. For instance, in June 2021, Nvidia partnered with Google Cloud for establishing an Ai-on-5G innovation lab for boosting the deployment and development of AI-based solution for enterprises, smart factories, and smart cities among others. This trend is likely to grow in the market over the forecast period, which in turn is likely to support the market growth in the near future.