The global grid computing market is expected to experience a windfall owing to the rise of remote work and work-from-home policies initiated by companies to ensure the seamless continuation of processes. Investments in IT infrastructure, inclination towards solving of complex issues, and collaboration with other organizations are likely to drive market growth over the forecast period. The increased capacity of organizations and enhancement of operational efficiency can bolster the market demand.
The COVID-19 pandemic has disrupted major processes and halting various essential pipelines. The search for a potential vaccine has driven the market demand owing to scientists and researchers working on them by relying on unused processing power. This is exemplified by its use by over 35 enterprises working in collaboration with educational institutes connecting close to 700,000 personal computing systems.
However, security issues posed by these systems offer a challenge to the market growth.
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By component, the grid computing market is segmented as grid computing hardware, grid computing software, and grid computing services. Grid computing hardware is further segmented into USB, video graphics array, and peripheral component interconnect bus. Grid computing services are further segmented into professional services and managed services.
By graphics type, the grid computing market is segmented as discrete graphics and integrated graphics.
By organization size, the grid computing market is segmented as SMEs and large enterprises.
By application, the grid computing market is segmented into software-as-a-service (SaaS), utility computing, and data center. In utility computing, the provider operates, manages, and owns the computing resources and infrastructure, which are used by subscribers on a rental or metered basis. The various subscription business models offered by companies and the bevy of cloud hosting services can drive the segment growth in the global grid computing market. Data center maintains servers, back-end IT systems, mainframes, databases, and software which are delivered, managed, and owned remotely by one or more providers. For instance, Oracle 10g software is specially designed for grid computing, which delivers high quality services for the businesses at a much lower cost.
By end users, the grid computing market is segmented into government, IT & telecommunications, consumer electronics, healthcare, BFSI, education, and others.
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