16 Mar Global Supercomputer Market 2020-2024| Increasing Utilization of Big Data Analytics to Boost Market Growth | Technavio
LONDON–(BUSINESS WIRE)–#SupercomputerMarket–The supercomputer market is expected to grow by USD 22.05 billion during 2020-2024, according to the latest market research report by Technavio. Request a free sample report
Businesses are looking to shift their focus beyond data management to find value from data that can drive informed decisions. The trend of extracting insights from big data is on the rise. This is creating the need for better computing infrastructure. Big data requires computing systems that can handle data-intensive workloads. Supercomputers, with their large storage and high processing capabilities, are ideal for processing large volumes of data. This can be witnessed in the financial services industry, where companies, such as PayPal, have resorted to buying cluster supercomputers over the last two to three years. Thus, the increasing utilization of big data analytics is expected to drive the growth of the market during the forecast period.
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As per Technavio, the growing use of the cloud will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.
Supercomputer Market: Growing Use of the Cloud
Supercomputing centers are increasingly using the cloud to manage workloads. At present, parallel applications that do not require very specific architecture are being run using the cloud. However, more sophisticated applications are likely to be run on the cloud as time progresses. In keeping with this development, Cray struck a partnership with Microsoft. The partnership allows Cray access to Microsoft’s Azure customer base, with the potential to provide better growth for the company. Cray is offering dedicated Cray XC and CS-Storm supercomputers inside the Azure platform, as a part of the partnership. This allows customers to run their HPC and AI applications alongside their other cloud workloads. The automotive, financial services, and life sciences sectors are expected to show an increased interest in using cloud services for supercomputers. Thus, the growing use of the cloud is a key trend in which is expected to boost market growth over the forecast period.
“Factors such as the increasing focus on energy-efficient supercomputing, and the development of smart cities using supercomputers will have a positive impact on the growth of the supercomputer market value during the forecast period,” says a senior analyst at Technavio.
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Supercomputer Market: Segmentation Analysis
This market research report segments the supercomputer market by end-user (government entities, scientific research and academic institutions and commercial industries), OS (Linux, UNIX, Mixed and Windows), processor type (Intel, IBM (Power), AMD and Others), and geography (North America, APAC, Europe, South America and MEA).
The APAC region led the supercomputer market in 2019, followed by North America, Europe, South America and MEA. During the forecast period, the APAC region is expected to register the highest incremental growth due to an increase in the number of data centers in the region and improving infrastructure.
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Some of the key topics covered in the report include:
Scientific research and academic institutions
Market positioning of vendors
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