The high performance data analytics market has been valued at USD 48.28 billion in 2019 and is expected to reach USD 187.57 billion in 2025 registering a CAGR of 25.4% during the forecast period
– A major driver for the growth of the high data performance analytics market is the increasing ability of the powerful high performance computing (HPC) systems to process data at higher resolutions and proliferation of open source frameworks (Hadoop) for big data analytics.
– Furthermore, a large number of businesses are beginning to rely on large scale data analytics for greater insights into their customers’ behavior and their business requirements is also expected to aid the market growth.
– Analytics and AI require immensely powerful processes across compute, networking and storage. As a result, more companies are increasingly using HPC solutions for AI-enabled innovation and productivity. For instance, ZEFF, Inc.’s AI database is a great example of what AI and HPC can achieve together. With HPC, ZEFF has been able to solve tens of millions of image problems for people in a day or less instead of what previously took weeks or months to accomplish. However, investment costs and government regulations may hamper the market.
Scope of the Report
High Performance Data Analytics unites HPC with data analytics. The process leverages HPC’s use of parallel processing to run powerful analytic software at speeds higher than a teraflop. Through this approach, it is possible to quickly examine large data sets, drawing conclusions about the information they contain. The scope of the market study is limited to the software and services offered by the vendors of the market and do not include hardware infrastructure.
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Key Market Trends
Energy and Utilities Sector to Grow Rapidly
– The energy and utility industry is also amongst the other sectors undergoing a large-scale transformation due to the advent of advanced technologies. One of the major technological drivers which impacted this industry is the emergence of Big Data and analytics.
– Further, the scarcity of fossil fuel is giving rise to alternate sources of energy such as solar, wave, and wind turbines, wherein consumption is increasing at a high pace. Thus, it has become imperative to use advanced tools that use high-performance data analytical tools to understand the behavior or adaption of these sources of energy. For instance, the French energy services company like Edelia, launched a complex energy consumption monitoring and management solution which monitors energy usage in near real-time, enables consumers to control consumption and reduce their carbon footprint.
– Energy and utility organizations apply smart technology to their landscape, including sensors, cloud computing technologies, wireless, power planning, and network communication. These produce large data sets, which gets collected over a period of time. Hence the need for quality information is also likely to aid the market growth. For example, a utility company, using smart meters and power, can gather around three petabytes of data every 15 minutes for a year for about one million households.
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