The High Performance Computing (HPC) Market expected to grow at a Compound Annual Growth Rate (CAGR) of 7.0% during the forecast period to reach USD 44.98 billion by 2022.
HPC solutions are witnessing widespread adoption across various industries, as they help in reducing compute time and improve processing capabilities. The growing usage of HPC solutions and an increasing need for enhanced and accurate processing are some of the other factors contributing to the growth of the HPC market.
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HPC solutions are witnessing major technological changes and evolving with technological advancements. A few prominent technological advancements such as the use hybrid HPC solutions for establishing a balance between the cloud and on-premises HPC solutions have witnessed increased adoption. A hybrid HPC solution results in better efficiencies. Apart from this, it also resolves security and privacy concerns as well as lowers the maintenance cost.
The networking devices solution segment is expected to grow at the highest growth rate during the forecast period. Organizations increasingly need a highly scalable and easily manageable network infrastructure. HPC networking devices cater to these requirements, thereby enabling innovations and increasing the operational efficiency and are therefore being rapidly adopted.
The cloud deployment type segment is expected to grow at a higher CAGR during the forecast period. The cloud deployment type minimizes an organization’s operational costs by eliminating the need to buy an additional computing resource. Moreover, the cloud deployment type comes with cost benefits, which have enabled small enterprises to take advantage of its benefits. These capabilities provided by on-demand (the cloud) HPC is expected to positively impact the growth of the HPC market.
The healthcare and life sciences segment is expected to grow at the highest CAGR during the forecast period. HPC is being implemented widely in applications areas of healthcare and life sciences for simulation, data management, modeling, next generation sequencing, and various other applications. Healthcare organizations, pharmaceutical companies, universities, and biotech companies are widely deploying HPC solutions improve the effectiveness of clinical treatments and stay competitive in the market.
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Asia Pacific (APAC) is expected to grow at the highest CAGR in the HPC market by region during the forecast period. The region offers potential growth opportunities, due to the increasing investments in advanced technologies, rapid cloud adoption, and stringent government regulations.