Pune, India, Dec. 08, 2023 (GLOBE NEWSWIRE) — The global next generation computing market size was valued at USD 110.57 billion in 2022 and is projected to reach USD 515.44 billion by 2030, exhibiting a CAGR of 21.4% during the forecast period. Fortune Business Insights™ shares this information in its report titled Next Generation Computing Market Forecast, 2024-2030.
Rapid advancements in hardware, software, and computational methodologies to enhance data processing speed, reliability, efficiency, and security are driving the demand for next generation computing. An increase in investments by key companies and the introduction of powerful quantum computers for solving complex problems across various industries is expected to fuel next generation computing demand in the coming years.
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Key Industry Development
September 2023: Toshiba Europe Limited invested in quantum technology. The company opened an innovative quantum technology center in Cambridge Science Park, U.K. Initially, the center will produce a Quantum Key Distribution (QKD) system.
Key Takeaways
- Increased Adoption of Cloud Services amid the Pandemic Augmented Market Growth
- Surging Need for Powerful Computing Hardware to Drive Segment Expansion
- Demand for Sustainable & Eco-Friendly Printing to Propel Market Growth
- By Application Analysis: Rise in Online Shopping to Propel Use of Digital Printing Technologies in Thick Cardstocks
Discover the Leading Players Featured in the Report:
“Companies leading the Next Generation Computing Market are Alphabet Inc. (U.S.), Alibaba Group Holding Limited (China), Microsoft (U.S.), Amazon Web Services, Inc. (U.S.), Cisco Systems, Inc. (U.S.), Intel Corporation (U.S.), ATOM COMPUTING, INC. (U.S.), Oracle Corporation (U.S.), NVIDIA Corporation (U.S.), Hewlett Packard Enterprise Development LP (U.S.)”
Report Scope & Segmentation
| Report Coverage | Details |
| Forecast Period | 2023 to 2030 |
| Forecast Period 2023 to 2030 CAGR | 21.4% |
| 2030 Value Projection | USD 515.44 Billion |
| Base Year | 2022 |
| Next Generation Computing Market Size in 2022 | USD 110.57 Billion |
| Historical Data for | 2017 to 2021 |
| No. of Pages | 170 |
| Segments Covered | Component, Type, Deployment, Industry, End User and Geography |
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Drivers and Restraints
Increasing Investments in HPC for Cybersecurity by Governments is Fostering Market Growth
The increasing need for High-performance Computing (HPC) to solve complex scientific, technical, and business difficulties is driving the market expansion. HPC facilitates the operation of advanced applications in AI, nuclear physics, and climate modeling efficiently, reliably, and rapidly according to user requirements and expectations. HPC resources are widely used for handling large datasets, specifically in BFSI and healthcare industries. Rapid innovations in GPU and CPU boosting the capacities of HPC. Increasing investments in HPC for cybersecurity, DNA analysis, clean energy, and public video analysis by governments are enhancing market development.
On the other hand, the high cost of development and maintenance of the advanced next generation computing technology is hampering market growth.
Segments:
By Component
By Type
- Quantum Computing
- Edge Computing
- High-performance Computing (HPC)
- Cloud Computing
- Others
By Deployment Mode
By Industry
- Healthcare & Life Sciences
- BFSI
- IT & Telecom
- Government
- Energy & Utilities
- Manufacturing
- Others
By Region
- North America
- South America
- Europe
- Middle East & Africa
- Asia Pacific
Regional Insights
Rapid Advancements in Digitization Propelled Market Growth in North America
North America is expected to command the global market over the forecast period. Market growth in the region is attributed to the increased cloud computing adoption and rapid advancements in digitization. The U.S. takes the lead in North America due to an increase in R&D initiatives.
Asia Pacific is set to register the highest growth rate over the projected period owing to the presence of prominent tech hubs, a rise in government initiatives, and IoT expansion.
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Competitive Landscape
Top Market Participants Focus on Mergers & Acquisitions and Collaborations to Maintain Dominance
Alphabet Inc., Alibaba Group Holding Limited, Microsoft, Amazon Web Services, Inc., Cisco Systems, Inc., Intel Corporation, ATOM COMPUTING, INC., Oracle Corporation, NVIDIA Corporation, Hewlett Packard Enterprise Development LP are some of the major next generation computing companies in the market. They are focusing on mergers & acquisitions, collaborations, and partnerships to maintain dominance.
FAQ’s
How big is the Next Generation Computing Market?
Next Generation Computing Market size was USD 110.57 billion in 2022.
How fast is the Next Generation Computing Market Growing?
The Next Generation Computing Market will exhibit a CAGR of 21.4% during the forecast period, 2023-2030.
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