Global High Performance Computing (HPC) Market

LONDON, July 17, 2018 /PRNewswire/ -- The global high-performance computing (HPC) market was valued at USD 27.28 billion in 2017 and is projected to reach a value of USD 39.58 billion by 2023, at a CAGR of 6.40% over the forecast period, 2018-2023.

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HPC has become vital to various users across government sectors, enterprises, and scientific researchers, to generate and develop advanced products and services. There is an imminent need to develop sophisticated HPC systems, and deploy them throughout academic, industry, and government institutions, while also utilizing it to address social challenges, like health, public safety, weather forecasting, climate change, and environmental protection. These advancements in computing technology are providing various benefits, like faster computing capabilities, enhanced performance efficiency, and smarter operation & management. These factors are expected to enhance the growth of the market during the forecast period.

Expansion and Diversification of IT Industry
The fast-paced growth in the IT industry is expected to be the major driver for the high-performance computing market. The incorporation of IT services across diverse industry verticals is the major cause for this growth, where, apart from business operations, these services are also used for process optimization, data management, and analytics. These functionalities are becoming more complex with growing industry size and high consumer data generation, creating a huge demand for HPCs. Furthermore, information technology has emerged as an integral part of business operations across different industry verticals, further supplementing the market growth.

Hardware Segment Occupies Major Market Share
The hardware segment constitutes a major part of the revenue generated in the high-performance computing market. HPC etworks, are usually a cluster of computers or a single high-performance supercomputer, and hence, the hardware components, including processors, networking devices, memory, storage, servers, graphic adaptors, and other such equipment, are major contributors to the market. Servers are among the most integral parts of the HPC infrastructure cluster, and account for a major part of the hardware components market share. Advances in technology have led to rapid improvements in the HPC systems and enhancing their size, density, power requirements, and storage capacity over the recent past.

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