Cloud High-Performance Computing Market Rewriting its Growth Cycle
The Cloud High-Performance Computing market is projected to grow from USD 6.4174 Billion in 2023 to USD 16.19338 billion by 2030, exhibiting compound annual growth rate (CAGR) of 16.68% during the forecast period (2023 - 2030).
Shraddha Nevase
Cloud High-Performance Computing MarketAnalysis
Market Research Future (MRFR) estimates the global Cloud High-Performance Computing Market Share to reach USD 16.19338 Billion at a 16.68%CAGR from 2023 to 2030 (forecast period).
Cloud high-performance computing increases the computing capability as compared to non-cloud deployment. The cloud is being used by a variety of organizations and industry verticals for high-performance computing in biological sciences, chemical engineering, computer-aided engineering and mechanical design & analysis, digital content creation & distribution, and many more scientific domains. Cloud high-performance computing provides extra capacity for excess workloads, lowering capital costs and providing access to specialized hardware, software, or other resources.
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The use of the cloud for high-performance computing has increased significantly. Currently, approximately 25% of organizations use cloud high-performance computing, and this figure is expected to rise substantially during the projected period. Globally, 50% of all businesses are examining consumption statistics in search of positive results and increased efficiency. Careful targeting and analysis aid in comprehending the migration of high-performance computing user workflows to the cloud. The cloud allows for variable pricing. The price model is based on consumption, allowing an enterprise to pay only for the services that it uses. However, there is always a security risk. According to a 2010 survey on cloud adoption, over 20% of organizations favor hybrid cloud, while almost 19% prefer private cloud due to security concerns. Due to severe security threats, public cloud utilization has been reduced by roughly 13%.
COVID-19 Impact on the Global Cloud High-Performance Computing Market
The introduction of a variety of regulations by governments worldwide to deal with the COVID-19 disaster is expected to affect the growth of the global cloud high-performance computing industry.
Cloud High-Performance Computing Market Segmentation
The global cloud high-performance computing market has been segmented into services, components, deployment, and industry verticals.
Based on the services, the global cloud high-performance computing market has been segmented into professional services, managed services, and other services. The professional services has been further segmented into integration and deployment service, maintenance & support services, and consulting service. The other services has been further segmented into Infrastructure as a service (IaaS) and platform as a service (PaaS).
Based on the component, the global cloud high-performance computing market has been segmented into hardware and software. The hardware segment has been further segmented into server, storage, and networking devices. The software has been segmented into clustering software and analytics tools.
Based on deployment, the global cloud high-performance computing market has been segmented into the public cloud and hybrid.
Based on the industry vertical, the global cloud high-performance computing market has been segmented into banking and financial services, IT & telecommunication, retail, manufacturing, healthcare, energy & utilities, transportation, and others.
Regional Analysis
The geographical analysis of the global cloud high-performance computing market marks the study for regions like North America, Europe, Asia Pacific, and the rest of the world.
North America accounts for over half of the market among these regions. North America has a high concentration of vendors offering cloud high-performance computing services and solutions to a wide range of end-users. Technological advancement and the development of supercomputing facilities are two significant factors leading to the expansion of cloud high-performance computing in North America. The United States leads the market, with Canada expected to grow at a faster rate.
Key Players
Notable players in the global cloud high performance computing market include Penguin Computing (U.S.), International Business Machines Corporation (U.S.), Microsoft Corporation (U.S.), Google, LLC (U.S.), Dell, Inc (U.S.), Gridcore AB (Sweden), Amazon Web Services (U.S.), Sabalcore Computing Inc (U.S.), Univa Corporation (U.S.), Adaptive Computing (U.S.), Hewlett Packard Enterprise (U.S.) among others.
Other vendors include The MathWorks, Inc (U.S.), Silicon Mechanics, Inc (U.S.), Atos SE (France), Oracle Corporation (U.S.), Nvidia Corporation (U.S.), R Systems NA, Inc (U.S.), Fujitsu Ltd (Japan), ToutVirtual, Inc (U.S.), T-Services (Russia), Wolfram Alpha LLC (U.S.), Intel Corporation (U.S.), Advanced Micro Devices, Inc (U.S.), Cisco Systems, Inc (U.S.), Hitachi Ltd (Japan), Alibaba Cloud (China), Huawei Technologies Co Ltd (China), Rescale, Inc (U.S.), Nimbix, Inc (U.S.), ARCTUR (Slovenija), CSUC (Spain), TotalCAE (U.S.), TheUberCloud, Inc (U.S.) among others.
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Summary
The global cloud high-performance computing market is anticipated to reach USD 22 billion at a 21% CAGR from 2017 to 2023 (forecast period). The increasing popularity of PaaS can spur the global market of cloud high-performance computing.
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