High Performance Computing Market - By Component (Hardware, Software, Services), By Deployment (On-premises, Cloud), By Organization Size (Large Enterprise, SMEs), By Application (BFSI, Healthcare & Life Science, Manufacturing, Government & Defense, Geosc

High Performance Computing Market - By Component (Hardware, Software, Services), By Deployment (On-premises, Cloud), By Organization Size (Large Enterprise, SMEs), By Application (BFSI, Healthcare & Life Science, Manufacturing, Government & Defense, Geoscience, Automotive, Education & Research, Media & Entertainment), Forecast 2023 - 2032
Global High Performance Computing (HPC) Market size will expand significantly through 2032. Rapid expansion of the genomics market is positively impacting the industry landscape. Comparative genomics involves comparing and analyzing the genomes of different species to understand their evolutionary relationships and identify genetic variations. HPC systems help perform large-scale genome comparisons, identify shared and unique genetic elements, and infer evolutionary relationships. These analyses contribute to various areas of research, including the study of disease susceptibility, genetic diversity, and evolutionary biology, resulting in increased demand for HPC systems.

The overall high performance computing market is classified into component, deployment, application, organization size, and region.

Based on component, high performance computing industry size from the hardware segment will grow considerably through 2032. Recent advancements in the hardware of high-performance computing are creating lucrative opportunities for segment expansion. In fact, multicore processors, which integrate multiple processor cores onto a single chip have come to the forefront. Additionally, the emergence of specialized processors, such as Graphics Processing Units (GPUs) and Field-Programmable Gate Arrays (FPGAs), has enabled accelerated computing for specific applications, such as simulations, deep learning, and data analytics.

In terms of deployment, high performance computing industry value from the cloud-based segment is estimated to cross USD 45 billion by 2032. Cloud-based HPC solutions provide on-demand scalability, allowing users to scale up or down their computing resources as needed. This flexibility is particularly advantageous for workloads with variable resource requirements. Users can quickly provision additional computational power during peak demand periods and scale down during periods of lower activity. Additionally, cloud-based HPC eliminates the need for organizations to purchase and manage their hardware, reducing capital expenditures.

Based on application, the high performance computing market from the BFSI segment will witness notable gains through 2032. Rising need for fraud detection in the BFSI sector has increased the demand for HPC solutions. HPC systems can analyze vast amounts of transactional data in real-time, identify anomalies and suspicious patterns, and flag potentially fraudulent transactions. By leveraging advanced analytics and machine learning algorithms, HPC enables proactive fraud detection, reducing financial losses and enhancing security for banks and financial institutions.

From the regional perspective, Europe high performance computing market share will grow at a decent growth rate from 2023 to 2032. Growing focus of the region in digital transformation is positively affecting the industry landscape. In February 2022, the European Commission announced its plan to invest €292 million (USD 314 million) in digital technologies. Moreover, the region is also home to key industry players such as Atos SE and others continuously engaged in product innovations to enhance their position.