The HPC as a Service Market is expected to reach $52.72 Billion during the forecast period at a 5.39% CAGR.
HPCaaS refers to the category of services that offer high-performance computing applications in a cloud environment. Access to a dependable and scalable pool of high-performance computing components is made possible by these services.
Covid 19 Impact & Market Status
The market for high performance computing as a service (Hpcaas) benefited from the COVID-19 epidemic. It assisted millions of individuals worldwide in utilising cutting-edge equipment for a variety of purposes, particularly healthcare. Numerous medical applications, including remote patient monitoring and healthcare solutions, benefited greatly from the high-performance computing as a service (Hpcaas) sector. The adoption of smart manufacturing processes employing AI and IoT technologies is predicted to lead to rapid development in the high-performance computing as a service (Hpcaas) sector after COVID-19.
HPC as a Service Emerging as the new Tycoon
In a survey by Sigma Computing, it is said that about 63 percent of employees have trouble obtaining information in the allotted time, and that most businesses can only examine 12 percent of their data. 73.4 percent of businesses identified the adoption of big data efforts as their greatest difficulty. High performance computation as a service, often known as HPCaaS, aims to provide businesses with the technology and software they need to conduct tasks like big data analytics.
The market for global high-performance computing as a service (Hpcaas) was estimated to be worth USD 5.51 billion in 2021 and is anticipated to grow to USD 20.62 billion by 2029, recording a CAGR of 12.40 percent during the forecast period of 2021-2029. Due to the increased demand for cloud-based versions of their solutions, PaaS is anticipated to have rapid expansion in the component section of the market. It is also projected that HPC as a service market plays a significant role in the development and deployment of new technologies in the global economy. Having strong security measures in place is crucial despite the growing requirement to process enormous amounts of raw data. As a result, there is an increasing demand to use cutting-edge technology, which in turn is promoting the use of HPC systems.
Demographic Study for Better Insights
Due to the development of computing technologies and the predominance of different market participants in North America, the high-performance computing as a service (Hpcaas) industry is dominated by the region. Due to the adoption of cloud services and the rising number of businesses reliant on cloud services in the area, Europe is predicted to experience considerable growth between 2021 and 2029. The nation part of the research also lists specific market-impacting variables and domestic market regulatory changes that have an effect on the market’s present and future tendencies. Case studies, technological trends, Porter’s Five Forces analysis, and value chain analysis of the upstream and downstream are some of the data points utilised to estimate the market scenario for certain consumers.
One may describe the technology as a supercomputer that can be transformed into a scalable cloud to improve the accessibility of HPC resources.
HPCaaS offers the tools necessary to handle enormous volumes of data while doing difficult computations on already-in-use systems. The concept enables individuals without the investment money necessary for the qualified personnel, gear, and development of a high-performance computing platform to undertake computationally heavy processing. HPCaaS supports the same workloads for large data analysis and scientific computing that are now executed on local high-performance computing (HPC) servers. One company that offers HPCaaS is IBM. An example of a high-performance computing application is executed on the Blue Gene/P system using an award-winning prototype framework created by IBM. The IBM Blue Gene/P is converted into an elastic cloud using this architecture, which supports dynamic provisioning, effective use, and maximum accessibility of HPC resources.
The market for HPC as a service was valued at 10 USD Billion in 2022 and is anticipated to grow at a CAGR of 13.3% from 2022 to 2029 to reach 20 US Billion.
This programme is currently available from IBM as Spectrum HPCaaS. Amazon, Azure, Penguin Computing on Demand, and Google Cloud Platform are further HPCaaS vendors (GCP). Hence these being the key players.
Latest Innovation in the HPC as a Service (HPCaaS) Market: A Snapshot
- For more than three decades, Microsoft Corporation has been a leading global supplier of a wide range of software, licences, hardware, and solutions for various industrial sectors. The company is focusing on expanding its domain expertise in security, cloud computing, and mobile technology. It also lays a great emphasis on promoting innovation in all of its product offerings. In order to expand its worldwide presence and product offerings, it emphasises strategic alliances with other market leaders.
- To increase its clientele and reach, it entered into partnerships with organisations like AT&T and CA Technologies. By offering its customers highly valued, affordable, and practical product offerings that are integrated with the most cutting-edge technological solutions and services, the company's primary goal is to enrich the technological usage experience for all of its clients, both in personal and business-related functioning.
HPC as a Service Market Scope
|Revenue forecast in 2028
|USD 20 Billion
|CAGR of 13.3 % during 2021-2028
|Type, Application, Nature, Regions
|North America, Europe, Asia Pacific, Middle East and Africa, South America
|Key Players Profiled
|Spectrum HPCaaS. Amazon, Azure, Penguin Computing on Demand, and Google Cloud Platform
Key Segments of the HPC as a Service (HPCaaS) Market
Type Overview, 2022-2029 (USD Billion)
- Healthcare and Life Sciences
Application Overview, 2022-2029 (USD Billion)
- Hosted Private Cloud
- Public Cloud
Regional Overview, 2022-2029 (USD Billion)
- Rest of Europe
- Rest of Asia Pacific
- Rest of South America
Middle East and South Africa