High Performance Computing (HPC) and High Performance Data Analytics (HPDA) Market – Snapshot
High Performance Computing (HPC) system installations have been witnessing gradual shift to High Performance Data Analytics (HPDA) systems, with the latter being in demand due to growing implementation of data and compute intensive applications. Though conventional HPC systems still support data analytics through application specific enhancements, growing demand for HPDA systems for new installations are observed worldwide. Growth in Internet of Things (IoT), enterprise automation, connected vehicles, and embedded AI are some of the technological advancements which have driven this demand shift.
As enterprises and organizations worldwide gradually embrace data analytics and look for monetization of their data assets, demand for High Performance Computing (HPC) systems and High Performance Data Analytics (HPDA) systems is forecast to observe steady growth over the period 2018-2026.
You will get Custom Report at Syndicated Report price, Buy Now
Recording a CAGR of close to 25%, the global market for High Performance Computing (HPC) systems and High Performance Data Analytics (HPDA) systems is estimated to reach a value of approximately US$ 58 Bn by 2026. A large share of this growth is accounted for by hardware (servers and storage), with software applications and the cloud segment analyzed to emerge as leading solutions with respect to compound annual growth rate. Industries such as biosciences (healthcare), government, and defense are expected to retain their dominant market position over the forecast period, in terms of market revenue size. Simulation and engineering design and fraud analytics applications across industries such as geoscience and BFSI are projected to drive how the market evolves in the long run.
Get More Press Releases by TMR:https://www.biospace.com/article/featuring-performance-and-functionality-plastic-makes-strides-to-revolutionize-healthcare-packaging/
For the market to see sustainable growth and retain the growth curve, it is expected to tap into demand from enterprise customers, exploring opportunities in enterprise IT infrastructure solutions and services. With price of HPC and HPDA systems constricting potential market opportunities across mid to small size enterprises, this offers a huge untapped market to be served. Another potential challenge restraining market growth is limited or low availability of in-house skilled workforce for these enterprises to manage the costly and complex IT infrastructure. These restraints have however given way for cloud HPC solutions and services to gain growth in the market, with managed/outsourced services seen as a lucrative opportunity.
The entire HPC and HPDA system infrastructure has been broadly segmented into servers, storage, software (application and platform), network, services, and cloud. By application, the following segments have been analyzed in the report – banking, financial services, and insurance (BFSI), energy & utilities, healthcare, IT & telecom, professional services, manufacturing, automotive, retail & consumer goods, transport & logistics, government, defense, media & entertainment, education, geoscience, and weather.
