Pune, Sept. 09, 2022 (GLOBE NEWSWIRE) -- The global HPC, Data Analysis, Storage & Management market reach USD 24.98 Billion in 2022 and is expected to exhibit a CAGR of 19.43% over the forecast period 2023 to 2032, according to a recent global market study by Quince Market Insights.
With HPC, users can process enormous amounts of data faster than with a typical computer, leading to quicker insights and helping organizations stay ahead of the competition. The power of HPC solutions might possibly surpass that of the most potent laptop. This capability allows for the use of up to terabytes (TB) of data, millions of scenarios, and other big analytical computations.
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As a result of technologies like the Internet of Things (IoT), artificial intelligence (AI), and 3-D imaging, the number and volume of data that organizations must work with is quickly increasing. For a variety of jobs, such as streaming a live sporting event, tracking the development of a storm, testing new products, and analyzing market trends, the ability to analyze data in real time is crucial.
Drivers:
- Growing demand of computation in Healthcare sector
- Increasing demand of automated trading and tracking of current stock patterns
Restrains:
- High-speed data transfer between compute servers and the data storage must be supported by the networking components.
Opportunity:
- Increasing installation of platforms that can safely analyses enormous database of private health data to speed up the search for treatments, vaccinations, and disease mutations.
Challenges:
- Required reliable IT infrastructure to process, store, and analyze massive volumes of data.
Impact of COVID 19 on HPC, Data Analysis, Storage & Management Market
- University of British Columbia academics are working on a variety of COVID-19-related projects, many of which require access to high-performance computing.
- The Center for Genome Research and Biocomputing at Oregon State University has long used AMD systems. The Monarch Initiative's usage of Knowledge Graphs and Oregon State's TRACE program, which monitors SARS-CoV-2 changes, was made possible by the COVID-19 HPC Fund servers.
HPC, Data Analysis, Storage & Management Market, By Product and Services
Based on the product and services, HPC, Data Analysis, Storage & Management market is divided into data analysis software and workbenches, data analysis services, storage, management and cloud computing solutions.
Software and workbenches is expected to grow during the forecast period.
HPC, Data Analysis, Storage & Management Market, By Application
Based on application, HPC, Data Analysis, Storage & Management market is divided into next generation sequencing, microscopy, chromatography, flow cytometry, spectroscopy, others
The Next Generation Sequencing segment is expected to drive market growth at a significant CAGR during the forecast period.
HPC, Data Analysis, Storage & Management Market, By End user
Based on the end user, HPC, Data Analysis, Storage & Management market is divided into pharmaceutical and biotechnology companies, research centers, academic and government institutions, hospital and clinics, others.
Hospital and clinics are expected to grow in the forecasting period.
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HPC, Data Analysis, Storage & Management Market, By Region
Based on the region, HPC, Data Analysis, Storage & Management market is divided into Asia Pacific, Middle East & Africa, North America, Europe, and South America.
US dominated the HPC and data analysis, storage, and management sectors in 2018. Due to the prominence of multiple pharmaceutical and biotechnology companies that focus on drug research and generate vast volumes of data
Recent Development in the HPC, Data Analysis, Storage & Management Market
- In 2018, AMD launched the AMD Radeon Instinct MI60 and MI50 accelerators, the world's first 7nm data center GPUs for next-generation deep learning, HPC, cloud computing and rendering applications to boost computing performance. This would help researchers and scientists efficiently process HPC applications in various industries such as life sciences, academics, etc. This has helped AMD expand its product portfolio in the AI, cloud computing and HPC segment.
- In 2017, Microsoft (US) and Advanced Micro Devices, Inc. (AMD) worked together to integrate Project Olympus, Microsoft's newest hyperscale cloud hardware design, with the cloud capabilities of AMD's next-generation "Naples" processor. The new solution will provide additional memory, faster I/O channels, increased scalability, performance, and efficiency because of this collaboration. This will assist the business in expanding its server and data centre markets.
- In 2017, Cisco Systems, Inc. announced the acquisition of Viptela, a US-based provider of cloud, software and networking solutions. Cisco Systems will combine technologies offered by Viptela, such as cloud network management, routing platforms and solutions, to provide secure and intelligent platforms for digital transformation. This will expand Cisco's SD-WAN portfolio by improving the flexibility and performance delivered through the cloud.
- In 2017, Viptela, a US-based supplier of cloud, software, and networking solutions, was acquired by Cisco Systems, Inc. Viptela's technologies, such as cloud network management, routing platforms, and solutions, will be combined by Cisco Systems to provide safe and intelligent platforms for digital transformation. This will increase the flexibility and performance offered through the cloud, expanding Cisco's SD-WAN portfolio.
Some key Points of the Global HPC, Data Analysis, Storage & Management Market Report are:
- A thorough segmentation of the global HPC, Data Analysis, Storage & Management market, as well as an analysis of trend-based insights and factors.
- Prominent players in the global HPC, Data Analysis, Storage & Management market include Advanced Micro Devices, Inc., Cray, Inc., Cisco Systems, Inc., IBM Corporation, Intel Corporation, Lenovo Group Limited (China), and Hewlett Packard Enterprise Company (USA).
- COVID-19's effects on the market for HPC, data analysis, storage, and management globally
Find more insights on this topic from this report, “HPC, Data Analysis, Storage & Management Market, by product and services (data analysis software and workbenches, data analysis services, storage, management and cloud computing solutions), by application (next generation sequencing, microscopy, chromatography, flow cytometry, spectroscopy, others), by end user (pharmaceutical and biotechnology companies, research centers, academic and government institutions, hospital and clinics, others), by region (as Asia Pacific, Middle East & Africa, North America, Europe, and South America)”.
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