The high performance data analytics market was estimated to be worth US$ 75.92 billion in 2022 and is anticipated to grow to US$ 730.02 billion in 2032, with a CAGR of 25.4% over the course of the forecast period.
The global expansion of the IT and database industries is anticipated to increase demand for high performance data analytics. In addition, it is anticipated that the use of open source data analytics frameworks would increase over the forecast period, along with the ability to handle massive amounts of data with high resolution.
Due to the adoption of supercomputers and the preference for advanced analytics and high speed computing across a variety of industries, the high performance data analytics market is anticipated to grow.
| Attributes | Details |
|---|---|
| Market for High Performance Data Analytics’ CAGR | 25.4% |
| Market Size for High Performance Data Analytics (2022) | US$ 75.92 billion |
| Market Size for High Performance Data Analytics (2032) | US$ 730.02 billion |
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Over the projection period, the demand for high performance data analytics is predicted to be hampered by a combination of reasons including high investment costs and strict government rules and regulations.
AI and analytics demand incredibly strong networking, storage, and computation systems. As a result, more businesses are turning to HPC solutions to boost productivity and innovation utilizing AI.
One of the other industries going through a significant transformation as a result of the development of cutting-edge technologies is the energy and utility sector. The emergence of big data and analytics is one of the key technological factors that have had an impact on this sector.
Organizations in the energy and utility sectors use sensors, cloud computing, wireless, power planning, and network communication in their landscape. These generate sizable data sets that are amassed over time. Consequently, the demand for high-quality information is likely to support high performance data analytics market expansion.
Principal Consultant
In terms of demand, North America is expected to lead the high performance data analytics market. The United States is likely to dominate the North American data analytics market over the forecast period due to strong demand from the software and IT sectors.
Asia-Pacific is expected to increase at a high rate, owing to developing economies and rising usage of supercomputers by growing IT sectors and research and development businesses.
In the next years, the Rest of the World (ROW) is expected to experience moderate expansion in the market for high performance data analytics.
Due to the presence of numerous players in the high performance data analytics market, the competitive environment of the global market is moderately fragmented.
Due to the wide range of opportunities the industry anticipates, the major vendors are always developing new technology. The corporations are engaging in mergers and acquisitions, investing a sizable amount of money in R&D, etc.
Recent Development
Since February 2019, the use of Python in high-performance computing applications has dramatically increased and Intel has expanded its services to cater to these new applications. The numerical and scientific computing capabilities of high-performance Python are now extended to machine learning and data analytics with the most recent releases of Intel Distribution for Python, which is part of Intel Parallel Studio XE 2019.
High performance data analytics provides access to large number of data in a productive and fault-free way. This data is being provided on scale-out commodity hardware system. The objective of High performance data analytics is to improve the performance of data while maintaining the productivity of the framework.
High performance data analytics is mostly preferred by IT industries, due its ability to handle large sets of data, without hampering the speed and performance of the system. The growing complexities of data has led High performance data analytics to adopt number of technological advancement from last half a decade which includes real time data analytics.
The combination of the productivity coupled with the benefit of real time performance is expected to boost the market for high performance data analytics over the forecast period.
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The growing number of IT & Database industry around the world is expected to fuel the demand for high performance data analytics market. Moreover, the proliferation for open source frameworks for data analytics coupled with the ability to process large amount of data with high resolution has further expected to drive high performance data analytics over the forecast period.
The software market is expected to gain traction in High performance data analytics market due to the deployment of supercomputers and preference for high performance computing and advance analytics in various verticals.
However, High investment cost along with stringent government rules & regulation are expected to act as the restraining factors and is anticipated to hamper the demand for high performance data analytics over the forecast period.
Geographically, the global High Performance Data Analytics market can be divided in major regions which include North America, Latin America, Western and Eastern Europe, Asia Pacific excluding Japan (APEJ), Japanand the Middle East and Africa (MEA).In terms of demand, it is anticipated that North America will dominate global High Performance Data Analytics market.
The U.S. due to strong demand from software and IT sector is expected to dominate North America data analytics market over the forecast period. Asia Pacific, due to growing economies and rising adoption of supercomputers by growing IT sectors and research and development industries is anticipated to grow at significant rate over the forecast period.
Rest of the world (ROW) are projected to have moderate growth in High Performance Data Analytics market in coming years.
The key players in the global High Performance Data Analytics marketare
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, and applications.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
The global High Performance Data Analytics market can be segmented as follows:
High Performance Data AnalyticsMarket, by Component
High Performance Data Analytics Market, byType
High Performance Data Analytics Market, by End use
High Performance Data Analytics Market, by Deployment Model
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High Performance Data Analytics Market
