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| A15919 | Pages: 513 | Mar 2022 | 336 Views | | |
| Author(s) : Rachita Rake , Vineet Kumar | Tables: 178 | Charts: 70 |
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Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the Next Generation Computing Market
Request Now !The global next generation computing market Size was valued at $132.53 billion in 2020, and is projected to reach $782.10 billion by 2030, growing at a CAGR of 19.4% from 2021 to 2030.
COVID-19, as a macroeconomic shock, has impacted not only individual behaviors but also enforced governments and organizations to change their policies and priorities. This is fueling the adoption of Next Generation Computing and other technologies in many areas, especially in healthcare and smart cities. On the other hand, financial stress brought by the global recession has adversely impacted the technological adoption in short term in some sectors such as transportation.
Next generation computing technology is fundamentally different than conventional & supercomputers. It is also called high performance computing and uses technology based on quantum phenomena. Unlike classical computers, it uses quantum bits to process the data. In addition, next generation computing performs complex calculations proficiently when compared with classical computers and this factor majorly fuels growth of the next generation computing market. Furthermore, it finds its applications in aerospace & defense, BFSI, healthcare & life science, energy & utilities, manufacturing, IT & telecom, and other industries.
Numerous factors such as rise in investments in next gen computing technology, growth in demand for high performance computing, and increase in demand for next-gen computing from medical research and financial markets drive the next generation computing market growth. Moreover, surge in demand for cloud services due to COVID-19 pandemic drives growth of the global next generation computing industry. Furthermore, increase in use of on-premise next generation computing for businesses, growth in advancements in quantum computing technology and increase in number of gaming industries implementing next-gen computing applications is expected to create lucrative opportunities in the market globally. However, high operational challenges and issues regarding stability and error correction may hinder growth of the market globally.
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Segment Review
As per next generation computing market share. the global next generation computing market is segmented into component, deployment, type, organization size, industry vertical, and region. By component, the market is divided into hardware, software, and service. Depending on deployment, it is segregated into on-premise and cloud. On the basis of organization size, it is bifurcated into large enterprises and small & medium size enterprises. As per type, it is fragmented into high performance computing, quantum computing, brain computer interface, approximate and probabilistic computing, energy efficiency computing, thermodynamic computing, memory-based computing, optical computing, and others. By industry vertical, it is categorized into BFSI, healthcare, space & defense, energy & power, transportation & logistics, chemicals, academia, government, telecom, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Next Generation Computing Market
By Enterprise Size SMEs are expected to witness highest growth rate in upcoming years.
On the basis of organizational size, the large-scale enterprise segment dominated the overall next generation computing industry in 2020, and is expected to continue this trend throughout the forecast period. This is attributed to increase in adoption of next generation computing technology by business to gain strategic and a competitive advantage over their competitors. Customers use next generation computing to discover new insights on large-scale diverse data, including historical and recent data. This technology is suitable for processing of data and running algorithms and analysis across a large set of data to find relevant relationships, entities, and insights. Furthermore, next generation computing continues to become mainstream, as more large enterprises are considering the extraction capabilities for getting valuable insights from big data, which is opportunistic for the market. However, the small- & medium size enterprise (SMEs) segment is expected to exhibit the highest growth during the forecast period. This is attributed to the fact that SMEs are shifting their businesses to a digital platform, and are using next generation computing solutions, which is helping them to become more productive, smarter, and efficient.
Next Generation Computing Market
By Offering On-premises dominated the market in 2020.
Depending on the offering, the on-premise segment captured the largest share in 2020, and is expected to continue this trend during the forecast period. This is attributed to numerous advantages offered by on-premise deployment such as a high level of data security and safety. However, the cloud segment is expected to witness the highest growth in the upcoming years, owing to the fact that cloud deployment does not require investment in IT infrastructure, as all data is stored on cloud server, which increases the demand for next generation computing software across SMEs.
Next Generation Computing Market
By Region 2030North America EuropeAsia-pacificLamea North-America dominated the market in 2020.
Next generation computing market trends in Asia-Pacific is expected to exhibit highest growth during the forecast period, owing to strong economic growth along with the ongoing development in next generation computing and real-time data analysis, which drives organizations to invest heavily in next generation computing market to sustain growth and improve productivity. In addition, factors such as major shift toward digital transformation, cloud deployment & technological advancement among small & medium businesses, and continuously ongoing modernization in work force management strategy in emerging economies notably contribute toward the market growth. Furthermore, key players in Asia-Pacific are focusing on enhancing their operations and increasing their overall efficiency to stay competitive in the market, which is expected to provide lucrative opportunities for the growth of the market during the forecast period.
Market players operating in the next generation computing market include IBM Corporation, Amazon Web Services Inc., Alibaba Group Holding Limited, Cisco Systems, Google Inc., HPE, Intel Corporation, Oracle Corporation, Atos SE and Intel Corporation. These major players have adopted various key development strategies such as business expansion, partnership, collaboration and new product launches, which help to strengthen their foothold in the global next generation computing market.
Impact of COVID-19 on the Next Generation Computing market trends.
As per next generation computing market forecast the post COVID-19, the next generation computing market was valued at $158.02 billion in 2021, and is projected to reach $782.10 billion by 2030, growing at a CAGR of 19.4% from 2020 to 2030.
The next generation computing market size has witnessed growth in the past few years; however, due to the outbreak of the COVID-19 pandemic, the market has witnessed a slight decline in software revenue in 2020. This is attributed to implementation of lockdown by governments in majority of the countries and the shutdown of the cities to prevent the transmission of virus. The next generation computing market is projected to prosper in the upcoming years after the recovery from the COVID-19 pandemic. Furthermore, various organizations across the Asian countries are adopting advanced computing technics to improve their business process and to increase their operational efficiency. In addition, various countries have installed quantum computing applications and have adopted quantum computing solution for their healthcare and life sciences operation without any transmission of the virus among public.
Rise in investments in next-gen computing technology
Increase in emergence of next generation computing such as high-performance computing, quantum technology, and ongoing potential developments observed by major industries fuel the market growth. For instance, industry giants such as Lockheed Martin, NASA, Goldman Sachs Group., and other government organizations are investing in R&D of this technology. In addition, rise in investments by industry giants and government organizations in startups working in this technology is the major factor that fuels the market growth. For instance, in October 2019, Google LLC partnered with NASA, and Oak Ridge National Laboratory to provide the best quantum computing service in the world. Furthermore, the U.S. Department of Energy’s Office of Science’s Advanced Scientific Computing Research Programs is funding $42 million to Sandia National Laboratories. The project will be funded for four major developments in quantum computing and high performance technology, which is anticipated to drive the market growth. In addition, China has also invested in this emerging technology as it is building National Laboratory for Quantum Information Sciences in Hefei worth $10 billion, which has opened in 2020.
Key Market Segments
Key Market Players
Note: Details on financial performance and strategic moves and developments may not be captured for unlisted companies.
According to CXO perspectives of leading companies, the next generation computing market is expected to grow at a promising rate during the forecast period. Emergence of on-premises next generation computers for businesses and technological advancements in high performance computing processes are some of the factors expected to offer lucrative opportunities for growth of the market during the forecast period. Moreover, early adoption of thermodynamic computing within the defense & automotive sectors is one of the major factors that drives the market growth. In addition, surge in investments by government entities within the market and rise in use of simulation and modelling are the major factors that boost growth of the market, and are expected to provide great opportunities for the market growth.
According to CXOs, increase in research in next generation computing field in Asia-Pacific, such as China, India, Japan, and rest of Asia-Pacific is expected to provide lucrative opportunities to the market. Presently, North America dominates the market, and is anticipated to remain dominant during the forecast period. Emerging countries in Latin America are also projected to offer substantial growth opportunities. Also top key players in the market are adopting strategies, which propel growth of the market.
For instance, in September 2021, leading IT consulting service provider company Accenture partnered with IonQ to accelerate quantum computing business experimentation in organizations globally and across industries. Experience and skills of Accenture in quantum, coupled with its ability to design and create customized industry solutions tailored to IonQ’s quantum computing technology help more companies innovate and become quantum ready.
A. factors such as rise in investments in next gen computing technology, growth in demand for high performance computing, and increase in demand for next-gen computing from medical research and financial markets drive growth of the market . Furthermore, increase in use of on-premise next generation computing for businesses, growth in advancements in quantum computing technology, and increase in number of gaming industries implementing next-gen computing applications create lucrative opportunities in the market globally.
A. Distributed computing, Artificial intelligence, Machine learning, Deep learning, Cloud computing, Parallel computing, Grid computing
A. North America is largest regional market for next generation computing market.
A. The global Next Generation Computing market size was valued at $132.53 billion in 2020, and is projected to reach $ 782.10 billion by 2030, growing at a CAGR of 19.4% from 2021 to 2030.
A. • IBM Corporation • Amazon Web Services Inc. • Intel Corporation • Oracle Corporation • Atos SE • Intel Corporation
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