A new study title “High Performance Data Analytics (HPDA) market size, status and forecast 2027” has been featured on market research future.
The high performance data analytics market witnesses rapid revenue rise. The accretions of big data rising every minute with the rising adoption of connecting and wearable & sensors technology are major trends prevailing throughout the HPDA industry. With the rising demand for truly personalized and cost-effective big data management solutions across the burgeoning sectors drives the market growth, the market is projected to perceive exponential growth in the forthcoming period.
According to Market Research Future (MRFR), the global high performance data analytics market is forecasted to reach a significant value by 2027, growing at a phenomenal CAGR during the assessment period (2020-2027). Rapidly growing high-performance computing (HPC) is a key driving force behind the market growth. Besides, rapid transformations with the advancements in information technology add value to the market growth.
HPDA Helps Driving Data-Driven Innovations
Enterprises across industries are well aware of the importance of data collection, storage, and analysis. Therefore, they are adopting big data analytics extensively, which boosts the high performance data analytics market size. The convergence of big data and IoT, alongside the rising proliferation of IoT in different devices like sensors, influences the market landscape, generating big data.
Capital Funding Requirements are Major Headwinds for the Market Growth
Huge capital funding and investments required for the development and implement HPDA solutions restrict the market growth significantly. Various kinds of complications confronted with the programming of these systems are also potential restraints for the high-performance data analytics market. Any little issue appearing with the programming of these systems can appear as a potential restraint for the industry.
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High Performance Data Analytics Market - Segments
The market is segmented into components, technologies, applications, and regions. The component segment is sub-segmented into software and hardware. The technology segment is sub-segmented into structured, semi-structured, and unstructured.
The application segment is sub-segmented into manufacturing, financial, telecommunications, healthcare, retailers, energy, and others. The region segment is sub-segmented into Asia Pacific, Americas, Europe, and rest-of-the-world.
High Performance Data Analytics Market – Regional Analysis
North America is the largest market for high performance data analytics. The region is the leader in this segment and is gaining the most due to its tendency to bank on the latest technologies to simplify the operational process. Besides, North America has a world-class infrastructure that positively impacts market growth.
Also, increasing product developments, policies by federal governments, and increased focus on big data management & analysis for better management support are major factors bolstering the market growth. Additionally, factors such as the presence of IT companies, big data analytics providers, and rapid expansion of business act as major driving forces.
High Performance Data Analytics Market – Competitive Analysis
The market appears to be competitive with the presence of several large and small players operating in the market. Players operating in the market focus on optimized situational awareness for customers and ensure their mission success. To gain a larger competitive edge, these players invest heavily in R&D, global expansion, advanced technologies, and product launch.
Players leading the global high performance data market include Red Hat, Inc. (US), Cisco system, Inc. (US), IBM Corporation (US), Oracle Corporation (US), Hewlett-Packard Enterprise (US), Microsoft Corporation (US), Intel Corporation (US), Cray Inc. (US), ATOS SE (France), and Juniper Networks (US), among others.
July 12, 2021 – Advanced Micro Devices, Inc. (AMD – the US), a multinational semiconductor company, announced its collaboration with EuroCC to support HPC growth across EMEA. EuroCC is an EU-funded project with a goal to create a common high level understanding in the fields of HPC, HPDA, and artificial intelligence (AI). AMD technology is expected to help EuroCC achieve its goals. The EuroCC undertaking allows HPC experts to communicate consistently across a significant number of HPC centers within Europe.
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