Supercomputers Market is estimated to reach US$13.273 billion by 2029 at a CAGR of 9.01%
The supercomputers market is anticipated to grow at a CAGR of 9.01% from US$7.256 billion in 2022 to US$13.273 billion by 2029.
NOIDA, UTTAR PARDESH, INDIA, February 1, 2024 /EINPresswire.com/ — According to a new study published by Knowledge Sourcing Intelligence, the supercomputers market is projected to grow at a CAGR of 9.01% between 2022 and 2029 to reach US$13.273 billion by 2029.
Supercomputers have transformed the Banking, Financial Services, and Insurance (BFSI) sector by providing enormous computational power and advanced analytics capabilities. The growing automation in the BFSI sector is a major driving force behind the growth of the supercomputer market. For instance, in November 2021, OTP Group, the leading banking group in Central and Eastern Europe (CEE), and SambaNova Systems announced their collaboration to build Europe’s fastest AI supercomputer for deployment at commercial banks. This collaboration is supported by Hungary’s Ministry of Innovation and Technology (ITM).
Supercomputers are powerful, high-performance computing machines that can solve complex problems and process massive amounts of data at incredible speeds. It consists of a wide range of applications including AI, machine learning, and data analytics. Additionally, big data analytics & cloud computing growth contributed to the expansion of the supercomputer market.
Numerous product launches and collaborations are taking place in the market, contributing to the growth of the supercomputer market. For instance, in July 2023, Cerebras Systems, a leader in accelerating generative AI, and G42, a UAE-based technology holding group announced Condor Galaxy, a network of nine interconnected supercomputers that offers a novel approach to AI computing and will significantly decrease AI model training time. Additionally, in November 2022, Atos announced the launch of Leonardo, Italy’s pre-exascale EuroHPC supercomputer, which is based on Atos’ BullSequana XH2000, the fourth most powerful supercomputer in the world.
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The supercomputers market, based on type is segmented into two main categories namely general purpose, and special purpose. Supercomputers are widely used in special-purpose computing tasks. They play an important role in domains that require massive computational power, such as molecular modeling and drug discovery, climate and environmental modeling, nuclear simulations, astrophysics simulations, and national defense simulations, as they are designed to handle these specialized tasks efficiently and precisely. Special purpose tasks account for a significant portion of the supercomputer market.
The supercomputers market, based on components is segmented into two main categories namely hardware, and software. Hardware components are widely utilized in supercomputers. It usually consists of a combination of specialized hardware components to achieve high-speed processing and performance. One key hardware component widely used in supercomputers is the Graphics Processing Unit (GPU) which has massively parallel architectures that enable them to perform many calculations simultaneously and account for a major share of the supercomputers market.
The supercomputers market, based on application is segmented into four main categories namely AI, machine learning, data analytics, and others. AI application is one of the widely used applications in supercomputers which include learning, deep learning, and neural network simulations. Supercomputers can be used to train complex AI models on large datasets, allowing for advances in areas such as image and speech recognition, natural language processing, and autonomous systems.
The supercomputers market, based on end-user is segmented into five main categories namely automotive, government, manufacturing, aerospace, and others. Supercomputers are widely used in government sectors as different governments around the world recognize the importance of supercomputers in achieving economic security. Supercomputers help to create cutting-edge electronic warfare equipment and defense systems, as well as for research and development in fields including quantum mechanics, weather forecasting, climate research, and oil and gas exploration, and account for a major share of the supercomputer market.
Asia Pacific is expected to account for a significant share of the supercomputer market due to the favorable investment and initiatives undertaken for promoting supercomputing technology in the region. For instance, according to the Press Information Bureau, the AI supercomputer ‘AIRAWAT’, is installed in C-DAC in Pune, and has been ranked 75th in the world. It established India at the top of the global AI supercomputing rankings and was installed as part of the Indian government’s National AI Program.
The research includes coverage of Hewlett Packard Enterprise, IBM, Fujitsu Limited (Furukawa Group), Lenovo Group Limited, Dell Inc., and Cisco are significant market players in the supercomputers market.
The market analytics report segments the supercomputer market using the following criteria:
• By Type
o General Purpose
o Special Purpose
• By Component
o Hardware
o Software
• By Application
o AI
o Machine Learning
o Data Analytics
o Others
• By End User
o Automotive
o Government
o Manufacturing
o Aerospace
o Others
• By Geography
o North America
• USA
• Canada
• Mexico
o South America
• Brazil
• Argentina
• Others
o Europe
• Germany
• UK
• France
• Spain
• Others
o Middle East and Africa
• Saudi Arabia
• UAE
• Others
o Asia Pacific
• China
• Japan
• South Korea
• India
• Australia
• Other
Companies Profiled:
• Hewlett Packard Enterprise
• IBM
• Fujitsu Limited (Furukawa Group)
• Lenovo Group Limited
• Dell Inc.
• Cisco
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Ankit Mishra
Knowledge Sourcing Intelligence LLP
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