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High Performance Computing as a Service Market Growing at a CAGR 11.9% | Key Player AWS, Microsoft, Penguin Computing, Sabalcore Computing, Adaptive Computing

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High Performance Computing as a Service Market Growing at a CAGR 11.9% | Key Player AWS, Microsoft, Penguin Computing, Sabalcore Computing, Adaptive Computing

April 28
15:01 2021
High Performance Computing as a Service Market Growing at a CAGR 11.9% | Key Player AWS, Microsoft, Penguin Computing, Sabalcore Computing, Adaptive Computing

IBM (US), AWS (US), Microsoft (US), Cray (US), Sabalcore Computing (US), Google (US), Penguin Computing (US), Adaptive Computing (US), Nimbix (US), Uber Cloud (US), HPE (US), and Dell (US).
High Performance Computing as a Service Market by Verticals (BFSI, Healthcare and Life Sciences, Manufacturing), Deployment Type (Colocation, Hosted Private Cloud, Public Cloud), Component, Region – Global Forecast to 2023

The High Performance Computing as a Service (HPCaaS) Market is projected to reach USD 10.0 billion by 2023 from USD 5.7 billion in 2018, at a CAGR of 11.9% during the forecast period. Market growth is largely driven by factors such as the faster deployment of new products and services, access to better technologies, and reduced capital costs.

The BFSI segment has the largest share of the market and is growing at the second highest CAGR during the forecast period

Financial institutions are adopting hosted private cloud and colocation services for security concerns. High-frequency trading, capital market analysis, and risk modelling are some of the BFSI applications that deploy HPC as a service. BFSI is the largest adopter of HPC as a service and expected to grow at a high pace in 2018 to 2023.

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The major software vendors in this market include IBM (US), AWS (US), Microsoft (US), Cray (US), Sabalcore Computing (US), Google (US), Penguin Computing (US), Adaptive Computing (US), Nimbix (US), Uber Cloud (US), HPE (US), and Dell (US). New product launches, product enhancement, and collaborations were the widely adopted strategy by the major players from 2016 to 2018. Other strategies such as expansions, acquisitions, and new product launches were also adopted by the companies to expand their presence in the global High Performance Computing as a Service market. This helped them to expand their consumer base and address the unmet needs of end users.

IBM is one of the prominent players in the High-Performance Computing as a Service market. The company’s growth strategy is to deliver high-value solutions to enterprise clients across all industry verticals. IBM focuses on delivering innovations in technology with superior solutions that enhance the clients’ and industrial outcomes. In 2016, IBM invested USD 5,751 million in R&D and engineering, which assisted it in introducing innovations in product development and creating a stronger portfolio. To cater the increasing demands for hyperscale data centers, IBM has stepped forward in developing innovative HPC-related offerings. In July 2017, the company launched IBM All-Flash ESS to provide high performance data and file management. IBM’s focus on HPC offerings has led to its widespread adoption and helped the company to gain importance in the HPC market.

Amazon Web Services (AWS) is another prominent provider of cloud computing businesses and technology infrastructure services to businesses across the globe. It is a dynamic and growing business unit of Amazon.com. The company’s strategy is to provide storage services at low costs with maximum safety, reliability, and flexibility. Amazon.com is investing comprehensively in AWS due to the increasing demand for cloud services from enterprises. AWS is strategically focusing on investing in technology infrastructure, digital products, and services improving the efficiency and process of the company. In February 2016, AWS signed an agreement to acquire NICE, a provider of software and services for high performance and technical computing. With this acquisition, the company aims to strengthen its HPC product offerings and expand its geographic reach. AWS plans to leverage NICE’s expertise and deliver products that enable its customers to optimize and centralize their HPC and visualization workloads.

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It follows a pay-as-you-go pricing strategy for its solutions, lowering the costs involved in offering cloud-based services. The company’s focus in the past 3 years has been to offer storage services to enterprises across the globe at highly competitive prices. However, its current focus is on offering customized solutions to best suit the business requirements of the enterprises.

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