High Performance Computing (HPC) Market Worth 44.98 Billion USD by 2022

PUNE, India, February 12, 2018 /PRNewswire/ --

According to a new market research report "High Performance Computing Market by Component (Solutions (Servers, Storage, Networking Devices, and Software), and Services), Deployment Type, Organization Size, Server Price Band, Application Area, and Region - Global Forecast to 2022", published by MarketsandMarkets™, the market size is expected to grow from USD 32.11 Billion in 2017 to USD 44.98 Billion by 2022, at a Compound Annual Growth Rate (CAGR) of 7.0% during the forecast period.

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Browse 69 market data Tables and 33 Figures spread through 134 Pages and in-depth TOC on "High Performance Computing Market"

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An increasing need for efficient computing, enhanced scalability, and reliable storage is expected to propel the adoption of HPC solutions. HPC offerings can handle large volumes of data with ease and can extensively support higher processing power and speed for data analysis. This has further fueled the demand for these solutions among end users.

Networking devices are expected to grow at the highest CAGR.  

The networking devices segment is expected to witness the highest CAGR during 2017-2022. Networking devices provide organizations with optimum networking solutions that help them overcome the issues of traditional networks that are highly static and associated with high operational overheads and manual intervention. These benefits are driving the High Performance Computing Market, and they are expected to drive the market during the forecast period.

The support, maintenance and management services segment is expected to grow at a considerable CAGR during the forecast period 

By service, the HPC market has been segmented into design and consulting; integration and deployment; and support, maintenance, and management. The support, maintenance and management services include support related to the implementation and use of products, provided by HPC vendors. Maintenance services facilitate upgrades to the existing systems and provide assistance for solving issues related to products. As the deployment of HPC solutions is increasing, the demand for support, maintenance, and management services is also gaining traction.