High Performance Computing (HPC) and High Performance Data Analytics (HPDA) Market Expected To Create Lucrative Opportunities For The Global Market

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.

Looking for exclusive market insights from business experts? Request a Sample Report

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.