Northrook, IL -- (SBWIRE) -- 11/28/2019 -- The High Performance Computing Market to grow from $30.03 billion in 2016 and projected to reach $44.98 billion by 2022, at a Compound Annual Growth Rate (CAGR) of 7.0% as per a report by MarketsandMarkets.

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Why more opportunities to emerge as advent of exascale computing grows to maximize the benefits of HPC?

The arrival of exascale computing is seen as one of the biggest opportunities that will maximize the benefits of HPC. Exascale refers to computing systems that are at least 50 times faster than the most powerful supercomputers in use today. Exascale computing will provide advanced modeling and simulation solutions that will address the key challenges in scientific discovery, energy assurance, economic competitiveness, and national security. The Exasclae Computing Project is a collaborative effort of 2 US Department of Energy (DOE) organizations: the Office of Science (DOE SC) and the National Nuclear Security Administration (NNSA). With the increasing volumes of data, HPC systems are demanding both greater memory capacity and high performance bandwidth to operate efficiently. Exascale computing will address both these challenges, thereby providing huge opportunities to the HPC market to flourish.

How lack of knowledge and limited budget among SMEs posing a challenge?

The potential users in many SMEs lack awareness about the benefits of HPC and do not have the budget to set up such systems. SMEs in many developing nations are still skeptical about adopting HPC, due to the high investment costs involved. Many of them are unaware about the various advantages that HPC offers, such as better performance and customizable delivery. These enterprises also lack the technical expertise needed to establish and run an HPC system. However, cloud computing can boost the use of HPC among SMEs, as it will considerably cut down the costs for them.

North America to have the largest market size in the HPC market during the forecast period

The global HPC market is segmented based on regions into North America, Asia Pacific (APAC), Europe, Middle East, and Africa (MEA), and Latin America. North America, a technologically advanced region, is home to early adopters and major market players. The early adopters include Banking, Financial Services, and Insurance (BFSI), government and defense, and healthcare and life sciences. They adopt HPC solutions to create opportunities for HPC vendors in North America. The US and Canada are the top North American countries contributing to the HPC market. Among regions, North America is expected to hold the largest market size during the forecast period, owing to the presence of a large number of vendors and rapid adoption of HPC solutions in the region.

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Major technology vendors in the HPC market include AMD (US), Atos (France), Cisco Systems (US), Cray (US), Dell (US), Fujitsu (Japan), HPE (US), IBM (US), Intel (US), and Lenovo (US).

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