Next Generation Computing Market Growth

Published Date: August - 2024 | Publisher: MIR | No of Pages: 320 | Industry: latest updates trending Report | Format: Report available in PDF / Excel Format

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Next Generation Computing Market Growth

Next Generation Computing Market Valuation – 2024-2031

The next generation computing market is a rapidly growing field that encompasses a variety of new and emerging technologies that are designed to address the challenges of traditional computing. The next generation computing market is expected to reach a total valuation of USD 709.38 Billion in 2031, up from a valuation of USD 187.06 Billion in 2023, growing swiftly at a CAGR of 20% from 2024 to 2031.

The next-generation computing market is booming, driven by the ever-increasing need to process and manage massive amounts of data. This market encompasses the development of hardware, software, and services that address challenges like data processing speed, reliability, efficiency, and security. Several factors are contributing to this market growth. The ever-growing volume of data collected by businesses and organizations necessitates more powerful computing solutions for analysis. Additionally, the increasing adoption of artificial intelligence (AI) and machine learning (ML) technologies is a major driver. These technologies require significant computing power to train and run complex models.

Next Generation Computing MarketDefinition/ Overview

Next Generation Computing refers to sophisticated computing technologies and paradigms that go beyond the capabilities of conventional computer systems. This includes quantum computing, edge computing, neuromorphic computing, and high-performance computing (HPC), which use novel designs, processing algorithms, and materials to provide higher speed, efficiency, and problem-solving capabilities.

The applications of Next Generation Computing are numerous, including optimizing complex simulations in scientific research, increasing artificial intelligence and machine learning algorithms, improving real-time data processing in IoT devices, and modernizing cryptography and cybersecurity measures. These innovations have the potential to accelerate progress in a variety of disciplines, including healthcare, finance, logistics, and environmental science.

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Which next-generation computing technologies are expected to see the most significant advancements in the coming years?

It's tough to say exactly where technology will take us, right? But if you look at where the money's going and what researchers are focused on, a couple of things seem set to explode in the next few years when it comes to next-generation computing. First upquantum computing. It uses those weird quantum mechanics principles to do calculations that regular computers can't even dream of. It's still early days, but it could totally shake up things like materials science, drug discovery, and even cryptography. Governments and huge tech companies are pouring cash into making it happen, and we expect breakthroughs as they get better at fixing errors and scaling up those finicky qubits.

Neuromorphic computing represents another technology expected to see substantial advancements. Inspired by the intricate workings of the human brain, this technology seeks to create computers that mimic the way our brains learn and process information. These systems, comprised of artificial neurons and synapses, are being developed to excel in tasks like pattern recognition and image classification. While replicating the full complexity of the human brain presents ongoing challenges, advancements in artificial neural network architectures and materials science are steadily bringing us closer to the creation of more efficient and human-like artificial intelligence.

It is important to acknowledge that other next-generation computing approaches, such as optical computing and DNA computing, are also actively being researched and hold promise for specific applications. The future of computing might very well involve a synergistic interplay of these technologies, each playing a critical role in solving distinct problems.

What are the Key Obstacles Faced by the Next Generation Computing Market?

Next-generation technologies such as quantum computing and neuromorphic computing require considerable upfront investments in hardware, software, and specialist personnel. This is a significant barrier for businesses and organizations, particularly small and medium-sized enterprises, who may be unwilling to engage in unproven technology with unknown returns on investment. Furthermore, new technologies necessitate major changes to existing IT infrastructure, hence raising the initial investment load.

Furthermore, while the hardware for next-generation computing is continuously improving, the software ecosystem remains in development.  The dearth of developed and user-friendly software applications specifically designed to capitalize on the capabilities of these new architectures impedes their adoption. Furthermore, designing efficient algorithms that fully realize the potential of these technologies remains difficult.

Category-Wise Acumens

 

How Does Growth of Cloud Computing Drive the Demand in the Market?

The cloud computing segment is estimated to dominate the market during the forecast period. Cloud computing provides a scalable and flexible option for computer resources. Businesses can pay for the resources they use, removing the need for huge initial expenditures in hardware and software infrastructure. This flexibility and cost-efficiency are especially appealing to enterprises of all sizes.

Cloud computing is a mature technology with a well-established ecosystem of service providers and solutions. The cloud provides easy access to sophisticated computing resources and software applications, allowing organizations to innovate and compete more effectively. Because of its established infrastructure and user familiarity, cloud computing is a convenient entry point for many enterprises looking at next-generation computing technologies.

Furthermore, Cloud computing acts as a basis for integrating next-generation technologies such as artificial intelligence, big data analytics, and edge computing. Cloud systems provide the flexibility and scalability required to handle the massive amounts of data created by these emerging technologies, enabling businesses to realize their full potential.

Gain Access to Next Generation Computing Market Report Methodology

Country/Region Wise Acumens

How is the presence of established technology giants in North America influencing the development and commercialization of next-generation computing solutions?

The presence of established technology giants in North America significantly impacts the development and commercialization of next-generation computing (NGC) solutions. These companies wield considerable influence, shaping the landscape in both positive and potentially challenging ways.

On the positive side, these giants possess substantial financial resources and established research capabilities. This translates into increased investment in NGC research and development, accelerating innovation. Additionally, their experience in bringing new technologies to market can expedite the commercialization of NGC solutions. Furthermore, their robust cloud infrastructure and established developer ecosystems provide a valuable platform for developing and deploying NGC solutions, fostering a more interconnected and supportive environment for innovation. The concentrated pool of scientific and engineering talent they attract and retain also contributes to faster breakthroughs and advancements in NGC research.

How do the varying levels of technological infrastructure and digital literacy across different regions within Asia Pacific impact the adoption of Next Generation Computing solutions?

Asia Pacific's tech scene is a mixed bag, which makes rolling out NGC solutions pretty tricky. It's a land of contrasts, really, and that means both big headaches and exciting possibilities that we need to think about. First, the tough stuffSome developing countries here are dealing with shaky communication networks, power grids that are less than reliable, and not enough oomph in their computers. That's a real problem because NGC tech needs a solid foundation to even work. Then there's the whole digital divide. You've got some folks in rural areas, or older generations, who just aren't comfortable with computers or fancy software. Even if the tech is there, they might not know how to use it! And let's not forget about needing qualified people. Finding experts to build, keep running, and manage NGC solutions? That can be a real challenge, holding back progress in some areas.

But hey, it's not all doom and gloom! This gap actually opens up some pretty cool opportunities. Developing countries in Asia Pacific could actually "leapfrog" the more established markets by embracing these super-modern NGC solutions. Think about itthey can skip the expensive upgrades to old infrastructure and go straight to the good stuff! Plus, we can build NGC solutions specifically for this region. Imagine mobile apps or cloud-delivered services designed to tackle the problems caused by limited fixed infrastructure, reaching folks who are practically glued to their phones. And finally, governments can really step up here! By putting money into infrastructure, boosting digital literacy with programs, and even offering incentives to adopt NGC, they can pave the way for everyone in Asia Pacific to get on board and benefit from these technologies.

Competitive Landscape

The next-generation computing market landscape thrives on a dynamic interplay between established industry leaders, pioneering startups, and innovative technology providers. These entities collaboratively deliver a comprehensive array of solutions that cater to the ever-evolving demands of businesses seeking to harness the power of next-generation computing for a competitive edge. Key players differentiate themselves through cutting-edge advancements in hardware and software, strategic partnerships, and the delivery of a holistic suite of services. Companies offering best-in-class quantum computing hardware, high-performance neuromorphic computing systems, and comprehensive software toolkits for next-generation computing applications are well-positioned for market leadership.

Some of the prominent players operating in the next-generation computing market include

IBM, Google, Amazon Web Services Inc., Intel Corporation, Atos SE, Microsoft, Hewlett Packard Enterprise Development LP, NVIDIA Corporation, Cisco Systems Inc., Advanced Micro Devices Inc., Dell Inc.

Latest Developments

  • In July 2023, Moody’s and Microsoft partnered strategically to co-create next-generation data, analytics, research, collaboration, and risk solutions for financial services, which would be built by combining Microsoft’s Azure OpenAI Service, Fabric and Teams with Moody’s proprietary data, analytics, and research.
  • In March 2023, Intel’s Habana Labs launched second-generation Al processors for training and inferencing.
  • In September 2022, General Atomics Aeronautical Systems, an American manufacturer of Aerial vehicles, announced a strategic partnership with an Indian start-up company, 3rdiTech, to develop next-gen integrated circuits, other semiconductor technologies, and computer chips.
  • In March 2022, Amphenol Corporation expanded its SURLOK Plus Series to include 8 mm and 10.3 mm right-angle connectors, with a voltage range of 1500 VDC to meet energy storage and high-power connection and transfer requirements.

Report Scope

REPORT ATTRIBUTESDETAILS
Study Period

2024-2031

Growth Rate

CAGR of ~20% from 2024 to 2031

Base Year for Valuation

2023

Historical Period

2018-2022

Forecast Period

2024-2031

Quantitative Units

Value in USD Billion

Report Coverage

Historical and Forecast Revenue Forecast, Historical and Forecast Volume, Growth Factors, Trends, Competitive Landscape, Key Players, Segmentation Analysis

Segments Covered
  • Component
  • Type
  • End-Use
Regions Covered
  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa
Key Players

IBM, Google, Amazon Web Services Inc., Intel Corporation, Atos SE, Microsoft, Hewlett Packard Enterprise Development LP, NVIDIA Corporation, Cisco Systems Inc., Advanced Micro Devices Inc., Dell Inc.

Customization

Report customization along with purchase available upon request

Next Generation Computing Market, By Category

Component

  • Hardware
  • Software
  • Services

Type

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

End-Use

  • Automotive & Transportation
  • Energy & Utilities
  • Healthcare
  • BFSI
  • Aerospace & Defense
  • Media & Entertainment
  • IT & Telecom
  • Retail
  • Manufacturing
  • Others

Geography

  • North America
  • Europe
  • Asia Pacific
  • Rest of the world

Research Methodology of Market Research

To know more about the Research Methodology and other aspects of the research study, kindly get in touch with our .

Reasons to Purchase this Report

We dig into the market with both qualitative (think insights) and quantitative (think numbers) analysis, breaking it down by segments, considering everything from economic trends to other less obvious factors. You'll get the lowdown on market value (in USD Billion!) for each little slice of the pie. We'll point out the region and segment that's expected to zoom ahead, plus the one that's king of the hill. We also break down the market by geography, looking at who's using the product/service where, and what's influencing them. Then, we scope out the competition, ranking the big players and highlighting their latest moves – new products, partnerships, expansions, acquisitions – over the last five years. You'll get detailed company profiles with overviews, insights, product comparisons, and even SWOT analysis for the major folks. We also give you the current and future market outlook, keeping an eye on growth opportunities, drivers, challenges, and restraints in both up-and-coming and established areas. We even dive deep with Porter's five forces analysis to give you a bird's-eye view, and map out the market's value chain. And of course, we wouldn't forget a market dynamics scenario, looking at growth possibilities in the years ahead. Oh, and just so you know, we throw in 6 months of analyst support after the sale!

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