Next Generation Computing Market Overview

Next generation computing encompasses a wide range of technological advancements and paradigms that are shaping the future of computing. These include developments in areas such as artificial intelligence, cloud computing, quantum computing, neuromorphic computing, and high-performance computing. The field is characterized by the cross-fertilization of various research fields, including programming, distributed/parallel computing, knowledge-based systems, agent-oriented systems, and cognitive aspects of human embodied knowledge.

The Next Generation Computing Market is projected to grow from USD 135.28 billion in 2023 to USD 667.48 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 19.4% during the forecast period (2023 - 2032).

Factors Driving Market Growth

Several key factors are driving the growth of the next generation computing market, including:

Rise in investments in next generation computing technology

Growth in demand for high performance computing

Increase in demand for next-gen computing from medical research and financial markets

Surge in demand for cloud services, particularly due to the COVID-19 pandemic.

Top Key Players:

  • IBM Corporation
  • Alphabet Inc
  • Amazon Web Services, Inc.
  • Microsoft
  • Advanced Micro Devices, Inc
  • Atos SE
  • Intel Corporation
  • NVIDIA Corporation
  • Hewlett Packard Enterprise Development LP
  • Cisco Systems, Inc.
  • Dell Inc.
  • Alibaba Group Holding Limited
  • Oracle Corporation
  • NEC Corporation

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Market Segments and Projections

The market is expected to consistently expand at a 19.1% CAGR, with the revenue share predicted to rise from US$ 136.46 billion in 2023 to US$ 783.64 billion in 2033 In 2021, the hardware component category led the market, accounting for a revenue share of more than 50.0%, with the BFSI (Banking, Financial Services, and Insurance) end-use segment likely to lead the market with a CAGR of 9.3% by 2033.

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Conclusion

The next generation computing market is poised for substantial growth driven by various factors such as increased investments in technology, demand for high performance computing, and the surge in cloud services due to the COVID-19 pandemic. With a strong market presence in North America and the dominance of key players, the market is expected to witness significant expansion in the coming years.

 

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