Overview and Scope
Grid computing refers to a system that connects many computer nodes into a distributed architecture, allowing these nodes to work together to accomplish tasks. Grid computing provides organizations with a cost-effective and efficient method for distributed computing, enabling them to utilize various computing resources to tackle intricate tasks and achieve scalability in computational operations.
Sizing and Forecast
The grid computing market size has grown rapidly in recent years. It will grow from $4.36 billion in 2023 to $5.18 billion in 2024 at a compound annual growth rate (CAGR) of 18.7%. The growth in the historic period can be attributed to growing data volumes, demand for high-performance computing, need for resource optimization, increasing complexity of computational tasks, scalability requirements, cost efficiency, Industry-wide adoption.
The grid computing market size is expected to see rapid growth in the next few years. It will grow to $10.43 billion in 2028 at a compound annual growth rate (CAGR) of 19.1%. The growth in the forecast period can be attributed to rise of big data analytics, expansion of cloud computing, demand for distributed computing solutions, acceleration of AI and machine learning, regulatory compliance requirements, focus on energy efficiency. Major trends in the forecast period include integration of artificial intelligence, growth in demand for big data processing, expansion for real-time applications, adoption of containerization.
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Segmentation & Regional Insights
The grid computing market covered in this report is segmented –
1) By Components: Grid Computing Hardware, Grid Computing Software, Grid Computing Services
2) By Size: Small And Medium Enterprise, Large Enterprise
3) By Application: Consumer Electronics, Education, Utility Computing, Data Storage, Other Applications
Asia-Pacific was the largest region in the grid computing market in 2023. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the grid computing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The rising demand for data security is expected to propel the growth of the grid computing market going forward. Data security refers to the practices, technologies, and measures implemented to protect digital data from unauthorized access, corruption, theft, or damage throughout its lifecycle. The increase in data security is due to increased cyber threats, growing volumes of data, protection of business reputations, emerging technologies and threats, mitigation of financial risks, protection against data loss, and enhanced trust in digital transactions. Grid computing solutions often incorporate compliance features that align with industry regulations and data protection laws. By adhering to standards and implementing robust security protocols, organizations can mitigate regulatory risks and demonstrate their commitment to safeguarding customer data. For instance, according to the reports published by Corporate Governance of Information Technology, UK-based corporate governance, IT governance identified 1,351 data security incidents in 2023, compared to 1,063 in 2002. Therefore, the rising demand for data security is driving the growth of the grid computing market.
Key Industry Players
Major companies operating in the grid computing market are Amazon Inc., Google LLC, Microsoft Corporation, Dell Technologies Inc., Hitachi Vantara India Pvt. Ltd., Lenovo Group Ltd., Intel Corporation, International Business Machine Corporation, Cisco Systems Inc., Oracle Corporation, Fujitsu Limited, NEC Corp., Hewlett Packard Enterprise Company, NVIDIA Corp., VMware Inc., Atos SE, SAS Institute Inc., Red Hat Inc., Platform Computing Inc., Anyscale Inc., Incredibuild Software Ltd., Rescale Inc., GigaSpaces Technologies Inc., GridGain Systems Inc., Univa Corp., Bright Computing Inc., AutoGrid Systems Inc
The grid computing market report table of contents includes:
1. Executive Summary
2. Grid Computing Market Characteristics
3. Grid Computing Market Trends And Strategies
4. Grid Computing Market – Macro Economic Scenario
5. Global Grid Computing Market Size and Growth
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32. Global Grid Computing Market Competitive Benchmarking
33. Global Grid Computing Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Grid Computing Market
35. Grid Computing Market Future Outlook and Potential Analysis
36. Appendix
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