Next Generation Computing Market Report and Forecast 2024-2032

Market Outlook

According to this report, the global next generation computing market size reached a value of USD 195.54 billion in 2023. Aided by the favourable government initiatives for research and development for new technologies, the market is projected to further grow at a CAGR of 19.4% between 2024 and 2032 to reach a value of USD 969.81 billion by 2032.

Next generation computing refers to the use of advanced computing technologies, including quantum computing, neuromorphic computing, and high-performance computing (HPC), to solve complex problems that are beyond the capabilities of classical computing systems. These technologies offer significant advantages in terms of processing speed, efficiency, and problem-solving capacity, making them invaluable in a wide range of applications, including scientific research, artificial intelligence (AI), and data analytics.

The primary driver of the global next generation computing market is the escalating demand for advanced computing solutions capable of handling complex computational problems. As industries across the globe increasingly rely on data-driven decision-making and advanced analytics, the need for powerful computing technologies that can process large volumes of data at high speeds has grown exponentially.

In the realm of scientific research, next generation computing technologies such as quantum computing and HPC are revolutionising fields such as climate modelling, genomics, and materials science. These technologies enable researchers to perform simulations and analyses that were previously impossible, leading to breakthroughs and advancements that drive further demand for next generation computing solutions.

Artificial intelligence (AI) and machine learning (ML) are also significant contributors to the next generation computing market share. AI and ML algorithms require immense computational power to process and analyse data, and next generation computing technologies provide the necessary infrastructure to support these advanced applications. As the adoption of AI and ML continues to expand across various sectors, the demand for next generation computing is expected to rise correspondingly.

Quantum computing is one of the most promising next generation computing technologies, with the potential to revolutionise various industries by solving problems that are currently intractable for classical computers. Quantum computers leverage the principles of quantum mechanics to perform computations at speeds exponentially faster than traditional computers. Applications of quantum computing span across cryptography, optimisation problems, drug discovery, and complex system simulations. Neuromorphic computing mimics the neural architecture of the human brain to create systems that can process information in a more efficient and adaptive manner. This technology holds significant potential for applications in AI and machine learning, where it can enable more advanced and efficient processing of sensory data, leading to improvements in robotics, autonomous systems, and cognitive computing while aiding the next generation computing market development.

North America is a leading region in the market, driven by significant investments in research and development and the presence of major technology companies. The region is home to a large number of companies and research institutions that are at the forefront of developing and commercializing next generation computing technologies. Asia Pacific is expected to be the fastest-growing region in the market, driven by rapid economic growth, increasing investments in technology, and the presence of a large and growing market for advanced computing solutions. Countries such as China, Japan, and South Korea are leading the region's growth, with significant investments in research and development and the commercialization of next generation computing technologies.

The global next generation computing market size is expected to see significant growth in the coming years, driven by the increasing demand for advanced computing solutions and the growing applications of next generation computing across various industries. The development of new and advanced computing technologies, such as quantum computing and neuromorphic computing, is expected to further drive the market's growth.

Moreover, the increasing investments in research and development and the growing support from government initiatives are expected to create new opportunities for the development and commercialization of next generation computing technologies. The market is also expected to benefit from the increasing focus on digital transformation and the growing adoption of advanced computing solutions across various industries.

Market Segmentation

The market can be divided based on component, type, enterprise size, deployment, end use and region.

Market Breakup by Component

• Hardware
• Software
• Services

Market Breakup by Type

• High-Performance Computing
• Quantum Computing
• Cloud Computing
• Edge Computing
• Others

Market Breakup by Enterprise Size

• Small and Medium Sized Enterprises (SMEs)
• Large Size Enterprises

Market Breakup by Deployment

• Cloud
• On-premises

Market Breakup by End Use

• Healthcare
• BFSI
• Media and Entertainment
• IT and Telecom
• Aerospace and Defence
• Automotive and Transportation
• Energy and Utilities
• Manufacturing
• Others

Market Breakup by Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Competitive Landscape

The report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global next generation computing market. Some of the major players explored in the report are as follows:

• Microsoft Corporation
• Alphabet Inc.
• Amazon Web Services, Inc.
• Hewlett Packard Enterprise Development LP
• Cisco Systems, Inc.
• IBM Corporation
• Oracle Corporation
• NVIDIA Corporation.
• Intel Corporation
• Advanced Micro Devices, Inc.
• Others