Next-generation Computing Market Size (2024 - 2029)

Next-generation Computing Market Analysis

The Next-generation Computing Market size is estimated at USD 191.62 billion in 2024, and is expected to reach USD 464.61 billion by 2029, growing at a CAGR of 19.38% during the forecast period (2024-2029).

Implementing Next-generation computing solutions gives end users a shorter lead time in product development, flexibility, process efficiencies, enhanced productivity, higher quality, more intuitive customer experiences, and improved profitability, fueling market adoption worldwide.

• Next-generation computing market is evolving from the emergence of new technologies such as Distributed computing, Machine learning, Artificial intelligence, and Cloud computing for efficient computing by using centralizing storage, memory, processing, and bandwidth, driving the market in various end-user applications.
• The demand for High-performance computing is increasing and becoming crucial for organizations as it enables them to compute and analyze large volumes of data quickly and efficiently, which is significantly essential in scientific research, engineering, and finance, where the ability to process large amounts of data to give insights for better operational efficiencies and customer services. The need for next-gen computing solutions for High-performance computing applications drives the market.
• Additionally, with better supply chain management, increased productivity, and streamlined operations, SMEs have benefited from digital transformation. SMEs have been automating their processes and reducing costs using cloud computing, AI, and blockchain, which would drive the market during the forecast period. For instance, in December 2022, UST, a digital transformation solutions provider, announced a collaboration with Intel and SAP to enable the Industry 4.0 digital transformation journey for small and medium-sized enterprises in northern Malaysia, creating an opportunity for the market vendors due to their next-gen computing solutions for Industry 4.0.
• However, the next-gen solutions and computing technology involve processing & data shared between local devices, mobile devices, cloud-based servers, etc., which generates a threat of data privacy risk in the end users while implementing the solutions for their business processes, which could restrict the market adoption in many end-users, such as defense, BFSIs, etc. during the forecast period.

Next-generation Computing Industry Segmentation

Global Next-generation Computing Market can be defined as computing solutions offered by the market vendors using advanced processors and AI & ML enabled software for managing, storing, and processing data automatically for high-power computational needs in the end-users, which are replacing older CPUs with newer chip architectures, such as GPUs and field-programmable gate arrays (FPGAs).

Global Next-generation Computing Market is components (hardware, software, and services), computing type (high-performance computing, quantum computing, cloud computing, edge computing), deployment type (cloud, on-premise), end-user (automotive & transportation, energy & utilities, healthcare, BFSI, aerospace & defense, media & entertainment, IT & telecom, retail, manufacturing), and geography (North America, Europe, Asia-Pacific, Latin America, Middle East & Africa). The market sizes and forecasts are provided in terms of value in USD for all the above segments.