The cloud high performance computing (HPC) market was estimated to reach around USD 6.1 billion in 2020, and projected to grow at a CAGR of 20.1% over the forecast period.
Cloud high performance computing (HPC) is the use of parallel processing to ensure that complex application applications run reliably, efficiently, and quickly. Cloud high-performance computing platforms are used to run machine learning, genome sequencing, speech and facial recognition, deep learning, pattern recognition, and other new workloads.
The rise of the cloud high performance computing market is being fueled by the growing use of large data and complex applications across many industries, such as electrical design automatic simulations, ultra-high-definition workflows, and so on. Concerns regarding the data's security and legitimate usage are, however, one of the key hurdles that may impede the market's expansion. Furthermore, the use of machine learning in conjunction with other technologies is becoming increasingly widespread in order to obtain a competitive advantage, especially in public-centric services, which is predicted to boost the cloud high-performance computing industry.
The rise of Big Data, the rising use of pay-as-you-go methods, and the strong need for managing complex activities are all propelling the global cloud high performance computing market ahead. High-performance computing is becoming more popular among small and medium-sized organisations due to its faster deployment, flexibility, and scalability. The risk of information loss, on the other hand, is a barrier that is limiting adoption. The hefty cost of moving from on-premise to cloud-based high-performance computing is also discouraging consumers from adopting this technology.
The report also emphasizes several distinctiveness of the global cloud high performance computing (HPC) industry by valuing the market from value chain breakdown. Moreover, the report encompasses numerous qualitative features of the cloud high performance computing (HPC) industry which comprises market restraints, drivers, as well as key industry opportunities. Furthermore, the report offers an inclusive evaluation of the company profiling along with the market rivalry of local and global vendors.
the cloud high performance computing (HPC) market has tough competition among the new emerging and pre-established market vendors. Besides, the Cloud High Performance Computing (HPC) industry vendors are trying to capture the prospective markets to grab a competitive advantage over the remaining industry vendors. To capture the market, market players are forming agreements, acquiring other companies & startups, mergers & acquisitions, partnerships & collaboration, and escalating their business existence.
Based on the industry verticals, the market is segmented into academia and research, biosciences, design and engineering, government & defense, IT & telecom, media, entertainment and online gaming, manufacturing, and others.
The government and defense sector is expected to dominate the cloud HPC market, accounting for the majority of market share, during the forecast period. On the other hand, end consumers of media, entertainment, and online gaming are predicted to grow the most during the forecast period. In the military-aerospace industry, satellite image processing, signal and intelligence processing, and video analytics are all critical challenges. Satellites, unmanned aerial vehicles (UAVs), and other devices, for example, are gathering massive amounts of image and video data. Cloud high-performance computing allows the military to discover security risks or targets of interest much more quickly in this case.
North America is expected to have the largest market share and will dominate the cloud HPC market over the forecast period, due to the developments in research and development and technology, as well as an increased requirement for business flexibility and agility. The cloud HPC market in Asia-Pacific is expected to grow fast because to improved technology, cost effectiveness, scalability, and productivity. In Asia-Pacific, India and China dominate the cloud HPC business, and these two countries are the world's fastest-growing economies. Furthermore, China claims to have one of the most advanced HPC systems in the world, second only to the United States, having raised HPC spending faster than the rest of the countries.
The major players of the global Cloud High Performance Computing (HPC) market are Amazon Web Services, Inc., Dell, Hewlett Packard Enterprise Development LP, IBM, Intel Corporation, Microsoft, NVIDIA Corporation, Oracle, Penguin Computing, Sabalcore Computing, Inc., and among others. Renowned companies are offering new and modern Cloud High Performance Computing (HPC) software solutions. In addition, the previously recognized as well as new market players are approaching the market with advanced and new strategic services and solutions and to remain competitive in the global market.
Segment Overview of Global Cloud High Performance Computing (HPC) Market
Service Type Overview, 2019-2028 (USD Billion)
- HPC IaaS
- HPC PaaS
- Data Organization and Workload Management
- Clustering Software and Analytics Tool
- Professional Service
Organization Size Overview, 2019-2028 (USD Billion)
- Large Enterprise
- Small & Medium Enterprises
Deployment Type Overview, 2019-2028 (USD Billion)
- Public Cloud
- Private Cloud
- Hybrid Cloud
Industry Verticals Overview, 2019-2028 (USD Billion)
- Academia and Research
- Design and Engineering
- Government & Defense
- Financial Services
- Media, Entertainment and Online Gaming
Regional Overview, 2019-2028 (USD Billion)
- Rest of Europe
- Rest of Asia-Pacific
Middle East and Africa
- South Africa
- Rest of Middle East and Africa
- Rest of South America