HPC as a Service Market Drivers Shaping Future Growth, Reach USD 17.00 Billion by 2026 | CAGR 13.3%
The increase in amount of data generation across various industry verticals acts as one of the major factors driving the HPCaaS market.
PORTLAND, PORTLAND, OR, UNITED STATE, October 14, 2022 /EINPresswire.com/ — Allied Market Research published a new report, titled, “HPC as a Service Market Drivers Shaping Future Growth, Reach USD 17.00 Billion by 2026 | CAGR 13.3%.” The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter’s Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry and determine steps to be taken to gain competitive advantage.
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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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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.
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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.
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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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.
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