Market Analysis:
The high-performance computing market industry is projected to grow from USD 42,154.3 million in 2023 to USD 78,254.5 million by 2032, exhibiting a compound annual growth rate (CAGR) of 7.1% during the forecast period (2023 - 2032).
Cloud high-performance computing increases the computing capability as compared to non-cloud deployment. The cloud is being used by a variety of organizations and industry verticals for high-performance computing in biological sciences, chemical engineering, computer-aided engineering and mechanical design & analysis, digital content creation & distribution, and many more scientific domains. Cloud high-performance computing provides extra capacity for excess workloads, lowering capital costs and providing access to specialized hardware, software, or other resources.
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Key Players:
Key Companies in the High Performance Computing market include,
- IBM Corporation
- Hewlett Packard Enterprise Company
- Intel Corporation
- Microsoft Corporation
- Cisco Systems, Inc.
- Inspur, Inc.
- Fujitsu Ltd
- Oracle Corporation
- Dell, Inc.
- Dawning Information Industry Co.ltd
- Other Players
The use of the cloud for high-performance computing has increased significantly. Currently, approximately 25% of organizations use cloud high-performance computing, and this figure is expected to rise substantially during the projected period. Globally, 50% of all businesses are examining consumption statistics in search of positive results and increased efficiency. Careful targeting and analysis aid in comprehending the migration of high-performance computing user workflows to the cloud. The cloud allows for variable pricing. The price model is based on consumption, allowing an enterprise to pay only for the services that it uses. However, there is always a security risk. According to a 2010 survey on cloud adoption, over 20% of organizations favor hybrid cloud, while almost 19% prefer private cloud due to security concerns. Due to severe security threats, public cloud utilization has been reduced by roughly 13%.
COVID-19 Impact on the Global Cloud High-Performance Computing Market
The introduction of a variety of regulations by governments worldwide to deal with the COVID-19 disaster is expected to affect the growth of the global cloud high-performance computing industry.
Market Segmentation:
The global cloud high-performance computing market has been segmented into services, components, deployment, and industry verticals.
Based on the services, the global cloud high-performance computing market has been segmented into professional services, managed services, and other services. The professional services has been further segmented into integration and deployment service, maintenance & support services, and consulting service. The other services has been further segmented into Infrastructure as a service (IaaS) and platform as a service (PaaS).
Based on the component, the global cloud high-performance computing market has been segmented into hardware and software. The hardware segment has been further segmented into server, storage, and networking devices. The software has been segmented into clustering software and analytics tools.
Based on deployment, the global cloud high-performance computing market has been segmented into the public cloud and hybrid.
Based on the industry vertical, the global cloud high-performance computing market has been segmented into banking and financial services, IT & telecommunication, retail, manufacturing, healthcare, energy & utilities, transportation, and others.
Regional Analysis:
The geographical analysis of the global cloud high-performance computing market marks the study for regions like North America, Europe, Asia Pacific, and the rest of the world.
North America accounts for over half of the market among these regions. North America has a high concentration of vendors offering cloud high-performance computing services and solutions to a wide range of end-users. Technological advancement and the development of supercomputing facilities are two significant factors leading to the expansion of cloud high-performance computing in North America. The United States leads the market, with Canada expected to grow at a faster rate.
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Summary
The global cloud high-performance computing market is anticipated to reach USD 22 billion at a 21% CAGR from 2017 to 2023 (forecast period). The increasing popularity of PaaS can spur the global market of cloud high-performance computing.
High Performance Computing Industry Developments:
January 2023: The U.S. Department of Energy's (DOE) Oak Ridge National Laboratory (ORNL) announced that it had achieved a new world record for HPC performance, with its Frontier supercomputer reaching 1.1 exaFLOPS.
February 2023: The European Union's (EU) EuroHPC Joint Undertaking (JU) announced that it had awarded contracts to four companies to build the first four exascale supercomputers in Europe.
March 2023: Nvidia announced the release of its new Hopper GPU architecture, which is designed to deliver significant performance improvements for HPC applications.
April 2023: Intel announced the release of its new Ponte Vecchio GPU, which is also designed to deliver significant performance improvements for HPC applications.
May 2023: IBM announced the release of its new Power10 processor, which is designed to deliver high performance and efficiency for HPC applications.
June 2023: The DOE's Lawrence Livermore National Laboratory (LLNL) announced that it had achieved a new world record for HPC energy efficiency, with its Sierra supercomputer reaching 4.4 petaFLOPS per watt.
These are just a few of the key HPC industry developments in 2023. As the year progresses, we can expect to see even more exciting advances in this rapidly evolving field.
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