Why Businesses are Wagering on High-Performance Computing (HPC)
It is fair to say that enterprises are now starting to look beyond conventional computational solutions for their data processing requirements. The rising volume of unstructured data is prompting enterprises to use High-Performance Computer (HPC) systems. The popularity of high-performance computer systems is on the rise across verticals; IT & telecommunications, healthcare, transportation, retail, BFSI, energy & utilities, and manufacturing. It is difficult to gauge the application potential of HPC as it continues to enter new domains. Adoption in healthcare, engineering and data analytics has been rapid. As the name suggests, HPCs are built to do what conventional computing systems cannot, which makes them unique and expensive.
High-performance computing is used for tackling some of the most critical challenges faced by mankind such as understanding mysteries of the universe or developing cancer drugs. This also requisites a massive amount of investments as HPCs don’t come cheap. But the risk is worth making - use of HPC to optimize data analytic activities and gain valuable insights is proving to be highly beneficial for businesses if done at scale. The emergence of Internet of Things (IoT) has intensified data generation where HPCs play an important role. Managing connected ecosystems required robust computing capabilities. The telecommunication is another area where HPCs are expected to make their mark in the forthcoming years. The latest study conducted by Market Research Future (MRFR) projects that the global high-performance computing market will grow at an impressive rate over the next couple of years.
Sectors such as automotive, military, aerospace are leveraging HPCs exponential computing capabilities. Product development, design analysis, high-resolution image processing, and mapping are some of the prominent areas where HPCs are increasingly used. HPCs are helping drive innovation and develop new products and solutions. The banking financial services and insurance (BFSI) sector is invoking strong demand for HPCs. MRFR’s study reveals that the IT & telecommunication and healthcare are two of the most important end-use sectors of HPC. In 2017, the global high-performance computing market reached a valuation of USD 31 Bn and this figure is expected to grow to USD 50 Bn by the year 2023, reflecting a compound annual growth rate (CAGR) of 8%.
Advanced economies in North America and Europe represent a fast-growing market for HPC. Early adoption and presence of numerous HPC solution providers are some of the factors influencing the HPC market prospects in these regions. Many of the top-notch companies that provide HPC solutions are based in the U.S. namely Dell, Inc., Hewlett Packard Enterprise Company, IBM Corporation, Microsoft Corporation, Intel Corporation, Oracle Corporation among others. In Asia, countries such as India, China, South Korea represent lucrative growth opportunities. The growth of end-user verticals in Asia is creating market opportunities for HPC in the region. The HPC market in the Asia Pacific is projected to exhibit strong growth over the next several years.
There is a strong demand for HPC servers, and this trend is expected to continue in 2019 and beyond. HPC networking devices are also expected to gain momentum in the near future. High-performance computing has two deployment modes namely on-cloud and on-premise. On-premise HPC deployment is more of a traditional mode whereas on-cloud is relatively new and is comparatively more flexible and efficient. Currently, on-premise HPC deployment is high, however, on-cloud HPC deployment is expected to take over in the forthcoming years.
For More Information, Visit: https://www.marketresearchfuture.com/reports/high-performance-computing-market-2698
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