The HPC market size is expected to grow from USD 37.8 billion in 2020 to USD 49.4 billion by 2025

The HPC market size is expected to grow from USD 37.8 billion in 2020 to USD 49.4 billion by 2025
13 October, 2021

The HPC market size is expected to grow from USD 37.8 billion in 2020 to USD 49.4 billion by 2025

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The demand for HPC is driven by the increasing need for efficient computing enhanced scalability, and reliable storage, emerging need for the high-speed data processing with accuracy, adoption of HPC in the cloud. The HPC market size is expected to grow from USD 37.8 billion in 2020 to USD 49.4 billion by 2025, at a CAGR of 5.5% during the forecast period as per IDC Market Report.

Rising demand for high-speed data processing with high precision is one of the key factors driving high-performance computing (HPC) market revenue growth. Sectors in which applications face slow data processing concerns involve finance, healthcare, research, and government. The financial industry's rapid evolution has made it essential for fast and precise processing of derivative valuation models. While in the healthcare industry, applications including computed tomography scanning and MRI, require quick and accurate outcomes from processing complicated data sets, HPC allows significant reduction of computing time and processes computed tomography and MRI information more rapidly and precisely than conventionally-used methods. As a result, growing demand for quicker data processing with greater precision in different fields is among some key factors driving high-performance computing market growth.

Growing need to streamline business processes is expected to further propel global high-performance computing (HPC) market growth in the forthcoming years. High-performance computing solutions enable customization of various business operations, thus enabling users to do even more in much less time. The capacity to analyze data more quickly enables the accounting team to recognize shortfalls and execute outcomes accordingly. High-Performance Computing (HPC) is used to recognize possibilities to address various industry problems in the most efficient and cost effective ways. In addition, rising prominence of cloud computing coupled with digitization is expected to boost global high-performance computing (HPC) market growth going ahead. Furthermore, growing focus on high-performance computing hybrid solutions is expected to augment global high-performance computing (HPC) market growth over the forecast period. Organizations currently rely on hybrid high-performance computing approaches with rising need for high-performance computing solutions and rapid technological advancements and developments. IT teams are increasingly focusing on building a balance among high-performance computing solutions for cloud and on-premises.

Businesses are rolling out high-performance computing capabilities on-premise as required. Cloud service providers began providing turn-key high-performance computing solution ecosystems that are customized to businesses' unique workflow requirements at the very same time. Reasonable efficiencies benefit from a hybrid high-performance computing solution. The high capital expenditure and operation cost concerned are among some key factors expected to hamper growth of the high-performance computing market to a certain extent. The expense of setting up or maintaining high performance computing is relatively high. A significant cost of capital is required, such as for investment in software. Operation costs for high-performance computing includes expenses for electricity, repair, and maintenance. The high capital expenditure and servicing costs are key factors hampering adoption of high-performance computing by some start-ups and SMEs.

In addition, as companies move from on-premises to cloud services, there is a growing investment involved. Lack of awareness among SMEs is also expected to hamper global high-performance computing market growth to a moderate extent over the forecast period. Potential customers in various small and medium-sized businesses are unaware of the advantages of high-performance computing and do not have the capital to install these solutions. Related to high capital expenses associated, SMEs in several developed countries still are pessimistic regarding high-performance computing adoption. Most of them are not aware of the various benefits provided by high performance computing, including enhanced efficiency and customized service. The technological knowledge required to set up and operate a high-performance computing facility is deficient in such businesses. Therefore, cloud computing can improve use of high-performance computing across small and medium enterprises since it can significantly reduce required costs.

Nebula Cloud is one such unique and innovative cloud agnostic on-demand HPC platform helping enterprises deploy fast, secure, and high-performance CAD, CAM, CAE, CFD, Big Data, GIS and PLM Solutions on cloud and provides a seamless experience to the engineering community. 

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