Numerous factors such as rise in investments in next generation 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 growth of the market. Moreover, surge in demand for cloud services, owing to the COVID-19 pandemic drives the growth of the global next-gen computing market. However, high operational challenges and issues regarding stability and error correction hinder growth of the market globally.
Furthermore, increase in use of on-premises 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. The global next generation computing market is segmented into component, offering, type, enterprise size, end use industry, and region. By component, the market is divided into hardware, software, and services. Depending on offering, it is segregated into cloud based and on-premises. As per type, it is fragmented into high-performance computing, quantum computing, brain type computing, approximate and probabilistic computing, energy efficiency computing, thermodynamic computing, memory-based computing, optical computing, and others. On the basis of enterprise size, it is bifurcated into large enterprises and SMEs. By end use industry, 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.
Market players operating in the next-generation computing market include Alibaba Group Holding Limited, Hewlett Packard Enterprise Development LP, Atos SE, Cisco Systems, IBM Corporation, Intel Corporation, NEC Corporation, Amazon Web Services Inc., Google Inc., and Oracle 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.
Key Benefits For Stakeholders
- The study provides an in-depth analysis of the global next-generation computing market forecast along with the current & future trends to explain the imminent investment pockets.
- information about key drivers, restraints, & opportunities and their impact analysis on global Next Generation Computing market trends is provided in the report.
- Porter’s five forces analysis illustrates the potency of the buyers and suppliers operating in the industry.
- The quantitative analysis of the market from 2022 to 2031 is provided to determine the market potential.
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Key Market Segments
By Offering
- Cloud Based
- On Premise
By Type
- Quantum Computing
- Brain Type Computing
- Approximate And Probabilistic Computing
- Energy Efficiency Computing
- Thermodynamic Computing
- Memory Based Computing
- Optical Computing
- Others
- High Performance Computing
By Enterprise Size
- Smes
- Large Enterprises
By Component
- Hardware
- Software
- Services
By End Use Industry
- Bfsi
- Healthcare
- Space And Defence
- Energy And Power
- Transportation And Logistics
- Chemicals
- Academia
- Government
- Telecom
- Others
By Region
- North America
- U.S.
- Canada
- Europe
- United Kingdom
- Germany
- France
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- Australia
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Brazil
- South Africa
- South Arabia
- Key Market Players
- Microsoft Corporation
- Google Inc.
- Atos SE
- Hewlett Packard Enterprise (HPE)
- IBM Corporation
- ALIBABA GROUP HOLDING LIMITED
- Intel Corporation
- Oracle Corporation
- Cisco Systems, Inc.
- Amazon Web Services Inc.
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Table of Contents
Executive Summary
According to the report, the next generation computing market was valued at $157.87 billion in 2021, and is estimated to reach $928.6 billion by 2031, growing at a CAGR of 19.6% from 2022 to 2031.Next generation of computing technologies is evolving from the emergence of new technologies and research areas such as Distributed computing, Artificial intelligence, Machine learning, Deep learning, Cloud computing, Parallel computing, Grid computing, and their related applications. The rate of innovation in the data warehousing, business intelligence, and analytics space has been accelerating over the past few years. The commercialization of massive-scale data management and computing platforms, coupled with a lowered barrier to entry, means that more organizations are exploring newer ways to leverage descriptive and predictive models to drive profitable business decisions.
Key factors driving the growth of the next-generation computing market include rise in investments in next-gen computing technology, growth in demand for high-performance computing, and an increase in demand for next-gen computing technology from medical research. Next generation computing is adopted across a lot of industries as it can be used for different applications. Rise in demand for effective medicines makes way for adoption of this technology in biomedical research. For instance, in February 2022, researchers developed AI solutions for next-gen biomedical research to develop therapies or prevention strategies for diseases, scientists need more and better data, faster and faster. This research was established under the direction of Fabian Theis, in the computational health center at Helmholtz Munich, one of Europe's largest research centers for artificial intelligence in medical science. In addition, the increased use of next-generation computing technology helps to reduce time & cost to the market to a greater extent, which drives the market growth. Also, technology such as quantum computing and memory-based computing has wider scope in determining cures for several diseases by mapping proteins in DNA, which provides major opportunities for medical and healthcare research. On the other hand, financial service firms are especially interested and investing in next-generation computing technology. For instance, Royal Bank of Scotland Group, Barclays, Goldman Sachs, Morgan Stanley, and other financial institutions focus on exploring potential use of quantum computing in areas such as asset pricing, portfolio optimization, capital project budgeting, and data security.
The market also offers growth opportunities to the key players in the market. Increase in use of on-premises next-generation computing for businesses. Typical commercial applications of next-generation computing are probably years away, however, enterprises are already preparing for quantum computing era, which provides major opportunities for the growth of the market. For instance, big giants such as Google, Goldman Sachs, NASA, and Lockheed Martin, are already investing in quantum computing technology to take advantage of quantum solutions for their businesses. Furthermore, companies such as D-Wave and IBM have already developed quantum computers for on-premises use. For instance, in March 2021, IBM Corporation installed its first private sector on-premises quantum computer in the U.S. at the Cleveland medical center. This, in turn, is expected to influence market growth.
The global next generation computing market is segmented into component, offering, type, enterprise size, end use industry, and region. By component, the market is divided into hardware, software, and services. Depending on offering, it is segregated into cloud based and on-premises. As per type, it is fragmented into high-performance computing, quantum computing, brain type computing, approximate and probabilistic computing, energy efficiency computing, thermodynamic computing, memory-based computing, optical computing, and others. On the basis of enterprise size, it is bifurcated into large enterprises and SMEs. By end use industry, 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 (the U.S., and Canada), Europe (the UK, Germany, France, Italy, Spain, and rest of Europe), Asia-Pacific (China, India, Japan, Australia, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa).
Market players operating in the next-generation computing market include Alibaba Group Holding Limited, Hewlett Packard Enterprise Development LP, Atos SE, Cisco Systems, IBM Corporation, Intel Corporation, NEC Corporation, Amazon Web Services Inc., Google Inc., and Oracle Corporation. The players in the market have been actively engaged in the adoption of various strategies such as expansion, product development, product launch, acquisition, partnership, and collaboration to remain competitive and gain an advantage over the competitors in the market. For instance, in March 2022, Oracle Cloud Infrastructure launched new services and capabilities focused on providing customers with more flexibility. New offerings will deliver customers with truly flexible core infrastructure services, automatically optimizing resources to match application requirements and significantly reducing costs. In addition, in September 2021, Oracle Corporation launched the Oracle Exadata X9M platforms, the latest version of the industry's fastest and most affordable systems for running Oracle Database. The new Exadata X9M offerings include Oracle Exadata Database Machine X9M and Exadata Cloud Customer X9M. such an initiative is expected to boost market growth.
Key Market Insights
By component, the hardware segment was the highest revenue contributor to the market and is estimated to reach $436.64 billion by 2031, with a CAGR of 18.2%. However, the software segment is estimated to be the fastest-growing segment with a CAGR of 20.5% during the forecast period.By offering, the on-premises segment dominated the global market and is estimated to reach $503.44 billion by 2031, with a CAGR of 18.7%. However, cloud-based segment is expected to be the fastest-growing segment during the next-generation computing market forecast.
Based on type, the high-performance computing segment was the highest revenue contributor to the market, with $33.63 billion in 2021, and is estimated to reach $148.57 billion by 2031, with a CAGR of 16.2%.
By enterprise size, the large enterprise segment dominated the global market and is estimated to reach $381.01 billion by 2031, with a CAGR of 20.8%. However, the small and medium-sized enterprises (SMEs) segment is expected to be the fastest-growing segment during the next-generation computing market Forecast.
Based on the end-user industry, the space and defense segment was the highest revenue contributor to the market, with $23.19 billion in 2021, and is estimated to reach $63.14 billion by 2031, with a CAGR of 10.5%.
Based on region, North America was the highest revenue contributor, accounting for $62.25 billion in 2021, and is estimated to reach $296.50 billion by 2031, with a CAGR of 17.1%.
Companies Mentioned
- Microsoft Corporation
- Google Inc.
- Atos SE
- Hewlett Packard Enterprise (HPE)
- IBM Corporation
- ALIBABA GROUP HOLDING LIMITED
- Intel Corporation
- Oracle Corporation
- Cisco Systems, Inc.
- Amazon Web Services Inc.
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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