Published Date: 31-May-2022
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According to a new report, published by KBV research, The Global Next Generation Computing Market size is expected to reach $465.7 billion by 2028, rising at a market growth of 18.0% CAGR during the forecast period.
The Quantum Computing segment is estimated to witness a CAGR of 18.5% during (2022 - 2028). As previously insoluble issues are solved, the commercial implementation of quantum mechanics is expected to simultaneously solve and generate new difficulties. Because of the diversity of advancements in next-generation computing, it is challenging for a company or government customer to make architecture, software, and service selections.
The Hardware segment is leading the Global Next Generation Computing Market by Component in 2021, thereby, achieving a market value of $242 billion by 2028. This is due to a surge in enterprise adoption of next-generation computing solutions to acquire a strategic and competitive advantage over their competitors, as well as excellent customer retention. Additionally, with just a single software program, these technologies save both time & expense, utilize current data investments, and enhance picture analysis skills. Further, next-generation computing network operators are improving their software solutions to broaden the range of next-generation computing applications available to more clients, presenting lucrative market growth potential.
The Cloud market has shown growth rate of 19.7% during (2022 - 2028). The cloud deployment does not necessitate expenditure in IT infrastructure because all data is housed on a cloud server, which creates demand for next-generation computing software among SMEs. Organizations can reduce their operational costs by using the cloud because they don't have to invest in extra computing resources. Other advantages, such as increased efficiency and cost-effectiveness, are likely to contribute to the cloud segment's growth.
The Large Enterprises segment acquired maximum revenue share in the Global Next Generation Computing Market by Organization Size in 2021, thereby, achieving a market value of $299.5 billion by 2028. It is due to a rise in businesses adopting next-generation computer technologies to obtain a competitive and strategic edge over their competitors. Customers employ next-generation computing to gain fresh insights from vast amounts of diverse data, both old and new. This technology is appropriate for data processing and executing algorithms and research on a vast quantity of data to discover significant links, entities, and insights. Furthermore, as more large companies evaluate the extraction abilities for gaining important insights from big data, next-generation computing is becoming more popular, which is advantageous for the industry.
The BFSI & Telecom segment is showcasing a CAGR of 16.9% during (2022 - 2028). Next-generation computing allows financial institutions to access information faster, execute programs more successfully, analyses data faster, and expedite procedures by going beyond the capabilities of a standard PC. It could help banks with fraud protection and conformity with ever-changing banking rules, in addition to Monte Carlo simulations for risk assessment.
North America is the fastest growing region in the Global Next Generation Computing Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $175.9 billion by 2028. The Europe market is estimated to witness a CAGR of 17.5% during (2022 - 2028). Additionally, The Asia Pacific market would exhibit a CAGR of 18.7% during (2022 - 2028).
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of IBM Corporation, Atos Group, Cisco Systems, Inc., Hewlett-Packard Enterprise Company, Amazon Web Services, Inc., Microsoft Corporation, Intel Corporation, Oracle Corporation, Google LLC, and Alibaba Group Holding Limited.
By Organization size
By End User
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