Next – Generation Computing Market
Next Generation Computing Market size is estimated to reach USD 5514.88 Billion by the end of 2036, growing at a CAGR of 19.74% during the forecast period, i.e., 2024-2036. In the year 2023, the industry size of next generation computing was USD 532.51 Billion. The Internet of Things, the newest technological advancement, produces vast volumes of data from connected gadgets like virtual entertainment, GPS beacons, and home automation systems. Next generation computing is becoming more and more popular as a means of managing and storing the massive volumes of data produced by these channels. It creates copious amounts of sensitive data and piques interest in next generation computing. It includes anticipating hardware breakdowns, measuring temperatures, and enabling autonomous driving. By 2023, there will be about 15.14 billion IoT devices. For example, the Exascale Computing Project (ECP) of the U.S. Department of Energy (DOE) has brought together a multidisciplinary team of computing experts over the past seven years to enhance next generation computer architectures and transform scientific modeling.
In addition to these, using information gathered about how systems work, artificial intelligence AI and machine learning ML can be utilized to assist and create autonomous behavior. To optimize resource management, for example, machine learning techniques can be used to identify patterns in workloads. Furthermore, ML-based dynamic system identification methods—such as recurrent neural networks, which an autonomous manager can adaptively activate to accomplish self-learning—are employed to lower model uncertainty. AI-based autonomic computing's low total cost of ownership is its primary benefit. It drastically cuts down on maintenance work. AI-supported automated IT systems improve system stability, reduce implementation and maintenance costs and time, and contribute to rising demand during the predicted period.
Growth Drivers
Challenges
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Base Year |
2023 |
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Forecast Year |
2024-2036 |
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CAGR |
19.74% |
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Base Year Market Size (2023) |
USD 532.51 Billion |
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Forecast Year Market Size (2036) |
USD 5514.88 Billion |
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Regional Scope |
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Type (High-Performance Computing, Quantum Computing, Cloud Computing, Edge Computing)
The cloud computing segment in the next generation computing market is expected to reach USD 4087.66 billion by 2036, rising at a substantial CAGR of 19.54% between 2023 and 2036. In 2023, the segment was worth USD 403.12 billion. Increased automation and agility, better customer experiences, the desire to cut costs and boost return on investment, the growing popularity of remote work, and the necessity for cloud-based business continuity solutions and services are the main factors driving the cloud computing industry. Additionally, using cloud computing services and cloud-based apps that promote greater levels of flexibility and productivity benefits both organizations and people. The cloud houses 60% of all corporate data worldwide. Global energy consumption is accounted for by cloud data centres at 3%. The annual revenue from cloud infrastructure services is USD 178 billion. Ninety percent of major businesses have implemented a multi-cloud infrastructure. Scalable, quantifiable, and centrally managed on-demand computing infrastructures make sense and match the needs of a variety of businesses, from start-ups to major multinationals. The next wave of cloud computing technology usually does away with the necessity for people to handle cross-border transactions. These systems can be configured as smart contracts or payments, which help fulfil specific requirements and boost demand over the market's projected period.
Deployment (Cloud-Based, On-Premise)
Next generation computing market from the on-premise segment was assessed at USD 298.48 billion in 2023 and is expected to have a value of USD 2979 billion by 2036, rising at a substantial CAGR of 19.38% over the projected time frame. The growth of the on-premise deployment segment is attributed to grow as it is becoming more and more popular in the next generation computing market. For example, sectors like finance, healthcare, and government that handle sensitive data frequently give priority to on-premise solutions in order to maintain direct control over data security and regulatory compliance. Moreover, on-premise installations may be preferred for applications that require exceptionally low latency, such as real-time processing in manufacturing or vital systems, in order to reduce communication delays connected with cloud-based solutions.
Our in-depth analysis of the global next generation computing market includes the following segments:
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Deployment |
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End-Use Industry |
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North American Market Forecast
The next generation computing market in North America is projected to be the largest with the largest revenue of USD 2058.71 billion by the end of 2036 by growing at a CAGR of 19.38% over the forecast period. One of the first nations to adopt the breakthroughs in next generation computing is North America. There are many foreign organizations and customers in the United States. In a same vein, hyperscale server farms which are extensively employed by informal business providers and distributed computing companies are growing in popularity. The largest search service in North America is supported by these factors. In 2023, the data center industry is expected to generate USD 105.90 billion in revenue. This will raise market demand during the forecast period.
Europe Market Statistics
The Europe next generation computing market is estimated to be the second-largest by developing at a CAGR of 19.86% in the given time frame. The Europe market is expected to be worth USD 1605.38 billion by the end of 2036, up from USD 153.04 billion in 2023. With time, computing technology has advanced to the point that mobile computers that are web-based and "almost always available" exist in the region Hardware will soon become a commodity, and the data it produces and the software that powers it will be what give it worth.
Author Credits: Abhishek Verma, Hetal Singh
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