High-Performance Computing as a Service Market is Expected to Reach $17.00 Billion by 2026, Says Allied Market Research
Surge in need for flexible computing services, rise in demand for efficient and high-speed computation & storage safety, and increase in government initiatives fuel the growth of the global high-performance computing as a service market. By industry vertical, the BFSI segment garnered the highest share in 2018. On the other hand, by region, Asia-Pacific would grow at the fastest CAGR of 18.3% by 2026.
Portland, OR, Aug. 06, 2020 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global *high-performance computing as a service market *was estimated at $6.28 billion in 2018 and is expected to hit $17.00 billion by 2026, registering a CAGR of 13.3% from 2019 to 2026. The report provides an in-depth analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and changing market trends.
Surge in need for flexible computing services, rise in demand for efficient and high-speed computation & storage safety, and increase in government initiatives fuel the growth of the global high-performance computing as a service market. On the other hand, high cost of HPC services impedes the growth to some extent. Nevertheless, adoption of cloud technology in the emerging economies is expected to create multiple opportunities in the industry.
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*COVID-19 scenario-*
· HPC, in the form of virtual computing infrastructure, brings in a lot of different servers to work together. And, with more and more organizations adopting the work-from-home practice, the global high-performance computing as a service market has received a substantial boost.
· Now, in collaboration with the White House Office of Science and Technology Policy and the U.S. Department of Energy and many others, IBM is all set to launch the COVID-19 high-performance computing consortium, which will generate an unparalleled amount of computing power to help researchers everywhere better understand COVID-19, its medicaments, and potential therapies.
*Get detailed COVID-19 impact analysis on the High-performance Computing (HPC) as a Service Market*
The global market is categorized by component, deployment type, industrial vertical, and region. On the basis of component, the solution segment contributed to more than three-fifths of the total market share in 2018, and is expected to lead the trail by the end of 2026. The services segment, on the other hand, is projected to portray the fastest CAGR of 15.5% throughout the forecast period.
On the basis of industry vertical, the BFSI segment accounted for more than one-third of the total market revenue in 2018, and is anticipated to retain its dominance till 2026. At the same time, the healthcare segment would manifest the fastest CAGR of 21.6% from 2019 to 2026.
On the basis of geography, North America held the major share in 2018, garnering more than two-fifths of the global market. Simultaneously, the region across Asia-Pacific would register the fastest CAGR of 18.3% by 2026. The market is also analyzed across Europe and LAMEA.
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The key market players analyzed in the global high-performance computing as a service market report include Dell, Google (Alphabet Inc.), The UberCloud, International Business Machines Corporation (IBM), Cray Inc., Microsoft Corporation, Nimbix, Inc., Penguin Computing, Sabalcore Computing, and Hewlett Packard Enterprise Development LP. These market players have incorporated several strategies including partnership, expansion, collaboration, joint ventures, and others to brace their stand in the industry.
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