According to a new market report titled “High Performance Computing (HPC) & High Performance Data Analytics (HPDA) Market–Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018 – 2026,” published by Transparency Market Research the global market for high performance data analytics is expected to reach US$ 58 Bn by 2026, recording an opportunity of over US$ 50 Bn during the forecast period, at a CAGR close to 25%. According to the report, the global market is expected to continue to be influenced by growing demand for data analytics, with enterprise customers exploring ways to take advantage of untapped potential of their huge data repositories. Adoption of data intensive applications especially in AI and deep learning technologies is seen as an emerging trend with strong influence on how the market evolves over the forecast period 2018-2026.
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Gradual shift of high performance computing systems to high performance data analytics enabled systems has in fact moved the big computing system manufacturers to fast forward their product development, keeping pace with the demand for data intensive computing applications. With Internet of Things (IoT) networks poised to see faster expansion, need for advanced computing systems has pushed service providers to upgrade their existing IT infrastructure. This has resulted in new installations being preferred for HPDA systems over HPC systems, enhanced for analytics applications. Among other technological advancements, industrial and enterprise process automation, connected vehicles, embedded AI, and smart cities are seen as prominent developments driving market growth for HPDA systems.
However, limited understanding of HPC adoption and its benefits still restricts the private sector from investing substantially in the technology, thereby keeping a large opportunity share untapped. Possible growth of cloud based service models and availability of skilled IT work force to manage these services at client/customer end would help reduce the impact of the constraint in the long run. Thus, enterprise level IT market offers opportunities to the high performance data analytics market for long term growth sustainability.
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Of all components making up the high performance data analytics systems demand, server and storage still hold larger share, at close to 50%. However, continually rising applications involving data analytics while considering high cost of such systems would see software and cloud emerge as the quickest growing component market, with their growth trend influencing the entire market outlook. Not only do conventional industries and applications drive the demand for HPC and HPDA systems, emerging applications in marketing, business intelligence, and fraud analytics are likely to see strong demand pick up for HPDA systems. Among conventional industries, defense and government account for largest share closely followed by the healthcare (biosciences) segment. Industrial design engineering and the financial sector are likely to continue to exhibit no shift in the growth trend.
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Geographically, regions such as North America, leading in the technology growth curve, is likely to retain market leadership position, with Asia Pacific quickly catching up, making the region the fastest growing. Quick rise in startup culture, high speed network proliferation, and need for data storage localization are some of the factors that are likely to help the Asia Pacific region to retain strong HPDA market demand over the forecast period. The region is expected to account for close to 35% of overall market opportunity addition during the forecast period. Other regions are likely to see demand largely contributed by government and defense sectors followed by financial and consumer services sectors. Logistics, weather, and geoscience are other potential applications which are likely to gain traction over the second half of the forecast period as these regions (MEA and South America) look to diversify their economic growth.
Key players in the market include industry leading companies such as Microsoft Corporation, Lenovo Group Ltd., SAS Institute, Intel Corporation, IBM Corporation, Teradata Corporation, Cisco systems, Hewlett Packard Enterprise, Oracle Corporation, Red Hat Inc., Dell Inc., Cray Inc., Juniper Networks, Huawei Technologies Co., Ltd., and ATOS SE.
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