The global high performance computing (HPC) market encompasses diverse range of hardware, software and services, facilitating computation in supercomputing and parallel processing for scientific, engineering and commercial applications. HPC systems comprise compute nodes interconnected by a high-speed network, enabling parallel processing to solve complex problems. They are employed across industries such as aerospace, automotive, biomedical, genomics, electronics design, finance and oil & gas for accelerating product development cycles, conducting research simulations and enhancing decision making.
The global high performance computing market is estimated to be valued at US$ 36.33 Bn in 2023 and is expected to exhibit a CAGR of 3.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Dynamics:
The rapid technological advancements enabling innovations in artificial intelligence (AI) and machine learning referred in the heading is one of the key drivers of the high performance computing market. Newer HPC architectures and algorithms are allowing accelerated training of sophisticated AI models for applications like computer vision, natural language processing and drug discovery. Moreover, AI deployment across industry verticals is fueling demand for more powerful HPC infrastructure to handle massive datasets and complex computations. Another driver is increasing R&D investments by governments and private organizations to develop supercomputing capabilities for strategic and commercial advantages. Countries are investing in national HPC programs to bolster computational research in strategic domains like defense, healthcare, energy and manufacturing. Such initiatives are promoting adoption of HPC systems on a global scale. However, high costs associated with procurement, implementation and operations of HPC systems may restrain market growth during the forecast period.
Segment Analysis
The high performance computing market is segmented into servers, storage, networking devices, software, and services. Among these, the servers segment dominates the market currently. The servers segment holds a significant market share due increasing demand for high performance CPUs and GPUs from industries. The servers offer enhanced computing power and parallel processing capabilities required by organizations for handling Big Data, simulations, analytics etc.
PEST Analysis
Political: The governments across countries are formulating supportive policies and initiatives to promote adoption of HPC solutions among institutions and SMEs.
Economic: Countries are investing heavily in developing supercomputing infrastructure to drive innovations and strengthen their economic competitiveness.
Social: HPC technologies are finding wide applications across industries like healthcare, automotive, manufacturing etc to address societal challenges.
Technological: Advancements in parallel processing, cloud computing, and memory and storage technologies are driving the development of exascale supercomputers with extreme performance capabilities.
Key Takeaways
The Global High Performance Computing Market Growth is expected to witness high between 2023 to 2030 driven by increasing R&D investments and growing adoption across industries. The global high performance computing market is estimated to be valued at US$ 36.33 Bn in 2023 and is expected to exhibit a CAGR of 3.7% over the forecast period 2023 to 2030.
Regionally, North America dominates currently led by the US due to presence of major supercomputing centers and research universities actively involved in developing exascale systems. Europe is another major regional market for HPC driven by initiatives like EuroHPC JU.
Key players operating in the high performance computing market are Wienerberger, Excluton, Ter Stege Betonvormen, Kooy Baksteencentrum, Steenfabriek Spijkenisse, Normteq, Kalkzandsteenfabriek Harderwijk, Mulderij Metsel- en Timmerbedrijf, Daas Baksteen Zeddam. The US based Intel corporation is a prominent player with its Xeon and Xeon Phi product lines popular among HPC users. Nvidia also has a strong market share through its graphical processing units widely adopted for accelerated computing.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it