The North America Next Generation Computing Market would witness market growth of 17.5% CAGR during the forecast period (2022-2028).
Companies are racing to develop next-generation computing technologies to address a wide range of issues, including incorporating machine learning and cognitive computing, as well as increasing the efficiency and efficacy of supercomputers. Quantum computing's commercial introduction is expected to solve as well as generate new difficulties, as previously complicated problems will be solved. Due to the numerous improvements in next-generation computing, it is challenging for a company or government customer to make software, infrastructure, and service selections.
In the aeronautical and military sectors, companies place a strong emphasis on lowering production costs while increasing production rates. By leveraging simulation throughout the design phase and avoiding physical testing, next-generation computing software solutions enable these organizations to give realistic multi-scale and multi-physics simulation solutions.
Furthermore, due to its cost-effective pay-as-you-go pricing model, cloud-based next-generation computing systems are gaining popularity in the industry. As the amount, diversity, and velocity of data generated have grown dramatically, this has been a major component in driving the industry, and it is likely to grow even more with the implementation of 5G technology.
The North American region is noted for its early acceptance of innovative technologies, owing to the United States and Canada's vigorous technological development. The rise in big data necessitates the adoption of technology and the necessity for security, resulting in the deployment of Next-Generation Computing systems. Government investments in R&D activities at the national scale are one of the major factors driving the growth of the regional market.
The need for high-performance computing in the region is projected to expand significantly due to the presence of important industry participants such as NVIDIA, HPE, IBM, Microsoft, and AMD. The White House requested an expenditure of over USD 475 million on Exascale computing in its fiscal year 2021 budget, securing the United States' position as the world's leading supercomputer country. The investment also aims to boost application performance at the Oak Ridge Leader Computing Facility in the United States by five times over the Summit system.
The US market dominated the North America Next Generation Computing Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $126.9 billion by 2028. The Canada market is poised to grow at a CAGR of 20.1% during (2022 - 2028). Additionally, The Mexico market would witness a CAGR of 19.1% during (2022 - 2028).
Based on Type, the market is segmented into High Performance Computing, Quantum Computing, Energy Efficiency Computing, Memory Based Computing, Approximate & Probabilistic Computing, Brain Type Computing, Optical Computing, Thermodynamic Computing, and Others. Based on Component, the market is segmented into Hardware, Software, and Services. Based on Offering, the market is segmented into On-premise and Cloud. Based on Organization size, the market is segmented into Large Enterprises and Small & Medium Enterprises. Based on End User, the market is segmented into Government, BFSI & Telecom, Space & Defense, Energy & Power, Chemicals, Healthcare, Academia, and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Global Next Generation Computing Market is Estimated to reach $465.7 Billion by 2028, at a CAGR of 18%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include IBM Corporation, Atos Group, Cisco Systems, Inc., Hewlett-Packard Enterprise Company, Amazon Web Services, Inc., Microsoft Corporation, Intel Corporation, Oracle Corporation, Google LLC, and Alibaba Group Holding Limited.
By Type
By Component
By Offering
By Organization size
By End User
By Country
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