Report Code : A15919
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.
Rachita Rake- Senior Analyst
ICT and Media at Allied Market Research
According to a new report published by Allied Market Research, titled, “Next Generation Computing Market Size," The next generation computing market was valued at $132.53 billion in 2020, and is estimated to reach $782.10 billion by 2030, growing at a CAGR of 19.4% from 2021 to 2030.
On the basis of next generation computing market analysis Increase in demand for enhanced computing performance for data analysis and rise in usage of simulation & modeling in healthcare, BFSI, and energy sector drive the market growth. In addition, rise in need for secure computing platforms, influx of huge amounts of data, and increase in adoption of quantum computing technologies by numerous industrial sectors are also expected to drive the market growth. However, several technological challenges associated with programming quantum computers, and developing approximate and probabilistic computing algorithms are expected to hamper growth of the next generation computing technology during the forecast period.
On the basis of component, the hardware segment dominated the overall next generation computing industry in 2020, and is expected to continue this next generation computing market trends during the forecast period. This is attributed to increase in adoption of next generation computing solution among enterprises to gain strategic as well as competitive advantage and strong customer retention over their competitors. In addition, these solutions save both time as well as money, leverage existing data investments, and improve image analysis capabilities, with just a single software application. Moreover, next generation computing service providers are upgrading their software solutions to expand the range of next generation computing applications to reach more customers, which provides lucrative opportunities for the market growth. However, the service segment is expected to witness highest next generation computing market growth, as service segment of next generation computing industry ensures effective coordination between software provider companies and users of next generation computing software by providing services such as implementation, training, consulting services, and managed services. The adoption of these software speeds up the customer satisfaction of various industrial verticals such as BFSI, IT & telecommunication, and healthcare, which maximizes the value of existing customer by optimizing their needs and minimizes the cost of operation. This further fuel the adoption of services that are needed to handle the software properly.
Depending on offering, the on-premise segment garnered the largest share in 2020, and is expected to continue this trend during the forecast period. This is attributed to numerous benefits provided by this on-premise deployment such as high level of data security and safety. However, the cloud segment is expected to witness highest growth in the upcoming years. As cloud deployment does not need any investment in IT infrastructure as all data is stored on cloud server, which increases the demand for of next generation computing software in small and medium scale organizations.
As per Next Generation Computing market forecast post COVID-19, the global next generation computing market size is estimated to grow from $ 158.02 billion in 2021, and reach $ 782.10 billion by 2030, at a CAGR of 19.4%.
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. However, in the mid- to long-term when financial stress is eased, this pandemic is expected to accelerate Next Generation Computing adoption in a broader range of sectors. The changes in consumer behavior, government policies, and organization priorities open a range of opportunities to adopt Next Generation Computing for innovative solutions to prepare for the new normal. Many of the changes in this new normal such as remote work and telehealth are expected to stay even after people get over the pandemic.
KEY FINDINGS OF THE STUDY BASED ON NEXT GENERATION COMPUTING MARKET SHARE
This report gives an in-depth profile of some key market players in the Next Generation Computing industry are IBM Corporation, Amazon Web Services Inc., Alibaba Group Holding Limited, Cisco Systems, Google Inc., HPE, Intel Corporation, Oracle Corporation, Atos SE and Intel Corporation. This study includes market trends, market analysis, and future estimations to determine the imminent investment pockets.
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Next Generation Computing Market by Component (Hardware, Software, Services), by Offering (Cloud Based, On Premise), by Type (High Performance Computing, Quantum Computing, Brain Type Computing, Approximate And Probabilistic Computing, Energy Efficiency Computing, Thermodynamic Computing, Memory Based Computing, Optical Computing, Others), by Enterprise Size (Smes, Large Enterprises), by End Use Industry (Bfsi, Healthcare, Space And Defence, Energy And Power, Transportation And Logistics, Chemicals, Academia, Government, Telecom, Others): Global Opportunity Analysis and Industry Forecast, 2021-2030
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