Next Generation Computing Market Overview:
Next Generation Computing Market is valued at around USD 158.3 Billion in 2022 and is expected to reach USD 785.1 Billion by 2030, registering a CAGR of 19.5% over the forecast period.
The next-generation computing device, often referred to as high-performance computing, operates on principles rooted in quantum phenomena, setting it apart fundamentally from conventional and supercomputers. Instead of relying on classical bits, it harnesses the power of quantum bits (qubits) to process data. This revolutionary approach holds immense promise, particularly in tackling complex computational tasks where traditional computers fall short.
The advent of next-generation computing is poised to catalyse significant advancements across various industries. Its unparalleled computational capabilities find applications in diverse sectors such as manufacturing, IT & telecom, healthcare & life sciences, energy & utilities, aerospace & military, and BFSI (banking, financial services, and insurance). With its potential to revolutionize problem-solving and data analysis, the industry is on the brink of transformative growth.
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Market Challenges:
With the goal to handle the enormous quantity of data generated during this time, there has been a rise in demand for information capacity. Nonetheless, a large number of small and medium-sized companies have begun to close, either indefinitely or temporarily. It has hindered the sector's revenue growth for next-generation computing.
Another issue facing the sector is a lack of competent workers. Next-generation computing technologies, such as quantum and neuromorphic, are still in the early stages of research. Therefore, in order to scale these technologies, research and development of the products and solutions for next generation computing needs a qualified workforce.
Opportunities:
A relatively new invention, the Internet of Things (IOT) is producing enormous volumes of data through networked gadgets like virtual entertainment systems, GPS beacons, and home automation equipment.
The proliferation of data has led to an increased focus on next-generation computing technologies, which provide effective means of storing and handling these enormous data volumes. Numerous businesses are realizing how useful IOT developments might be for contemporary applications.
These uses produce large amounts of sensitive data, ranging from enabling autonomous driving to anticipating hardware faults and monitoring temperatures. The amount of data that is being generated has increased interest in next-generation computing systems.
Prominent corporations such as HPE, Huawei, Hitachi, IBM, and Dell Technologies are heavily investing in the advancement of next-generation computing.
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Market Segmentations:
On the basis of component:
- Hardware
- Software
- Services
- others
On the basis of offering:
- cloud based
- on premise
- others
on the basis of type:
- high performance computing
- quantum computing
- brain type computing
- approximate and probabilistic computing
- energy efficiency computing
- thermodynamic computing
- memory based computing
- optical computing
- others
On the basis of enterprise size:
- SMES
- Large enterprises
- Others
On the basis of end-user industry:
- BFSI
- Healthcare
- Space and defence
- Energy and power
- Transportation and logistics
- Chemical
- Academia
- Government
- Telecom
- Others
Market Regional Analysis:
The Asia-Pacific region has emerged as a dominant force in the global Next Generation Computing Market, poised for profitable growth in the foreseeable future. Companies in this region are making significant investments in the next-generation computing industry to drive sustained growth and enhance productivity. This trend is fuelled by robust economic expansion, continuous advancements in next-generation computing technologies, and the increasing demand for real-time data analytics solutions. As a result, the Asia-Pacific market is experiencing rapid development and is expected to maintain its leadership position in the global landscape of next-generation computing.
Key Market Players in this report are:
- IBM
- Amazon Web Services, Inc.
- Intel Corp.
- Atos SE
- Microsoft
- Hewlett Packard Enterprise Development LP
- NVIDIA Corporation
- Cisco Systems Inc.
- Advanced Micro Devices, Inc.
- Dell Inc., and others.
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