Northbrook, IL 60062 -- (SBWIRE) -- 06/08/2022 -- The High-performance computing (HPC) market is expected to grow from USD 36.0 Billion in 2022 to USD 49.9 Billion by 2027, at a CAGR of 6.7%. Increasing demand for High performance computing in Healthcare and Life sciences—are the key factors driving the High performance computing (HPC) market.
Based on the Component, the High performance computing (HPC) market has been segmented into Solution, and services. The High performance computing market is a matured and well-developed market space. Although the market for High performance computing has been there for the past 15–20 years, the High performance computing product technology is still transforming dynamically. Various research institutes and key end users of rotary joints are pushing their financial resources to conduct more research into High performance computing and find new applications across the spectrum of industry verticals.
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On the basis of Industry, the market is categorized into government & defense, BFSI, education & research, manufacturing, media & entertainment, healthcare & life sciences, energy & utilities, earth sciences, and others. In 2021, the BFSI segment accounted for the largest share of High performance computing market. Financial institutes such as insurance companies and banks require innovative IT solutions to manage operational risks, achieve sustainable growth, and deliver optimal performance. Moreover, the increase in high-frequency trading has resulted in innovations in connectivity, data access, and computational power systems used in these organizations.
Among all regions, North America is expected to register the highest market share in the High performance computing market during the forecast period. The High performance computing market in Europe has been studied for the US, Canada, and the Mexico. The US held the largest share of the High performance computing market in North America. The major factors driving the growth of the market in the region include increased government funding and schemes to research applications of High performance computing across the healthcare & life sciences sector, as well as the increasing demand for High performance computing in the Government & defense industry for applications such as real-time data acquisition and analysis, emergency operations preparation, disaster modeling and analysis simulations, surveillance, and encryption/decryption of confidential information.