images credit: Hyperion Research
ST. PAUL, Minnesota, April 8, 2025 – HPC-AI industry analyst firm Hyperion Research announced today its latest market tracking for the technical computing HPC/AI/quantum computing market for 2024 shows the highest annual growth in decades.
The overall market, including on-premises servers, storage, software and maintenance plus spending in the cloud, reached $60 billion in 2024, growth of 23.5 percent over the previous year, Hyperion said.
“AI is used by over 78 percent of all HPC sites around the world and is engendering new discoveries, products and services,” the firm said. “The excitement around large language models started this growth almost two years ago and is now being applied across all HPC sectors. In addition, the use of large-scale computing combined with large data sets has created an expansion of traditional HPC use cases. Hyperion Research is now projecting the overall HPC/technical computing market will exceed $100 billion by 2028.”
The use of clouds to run HPC/AI/QC workloads is also growing at an accelerated rate and reached close to $9 billion in 2024, the c ompany reported. Hyperion expects the use of cloud computing to grow 17 percent to 20 percent over the next few years.
The figure below shows the market size and trends from 2005 to 2024, with strong growth in the past year and overall, since 2020:
According to Earl Joseph, Hyperion Research CEO: “As AI is being integrated into traditional HPC workflows, and HPC-class machines are purchased to adopt AI into enterprise datacenter applications, we are seeing a great increase in new buyers and suppliers entering the HPC market.”
The tracking of the HPC market is based on multiple surveys conducted of both buyers and suppliers. The new market results show a major change in the overall HPC market growth, heavily driven by a combination of the use of AI, Large Language Models, and the purchases of large GPU/accelerator-based systems. HPC systems are considered the backbone for many AI and AI-related applications, which has driven the overall HPC market to a new growth level.
