The adoption of cloud-based computing solutions is gaining traction among end-users, including large and small businesses globally. This is due to the benefits it offers, such as cost reduction, security, flexibility, mobility, increased collaboration, easy recovery in case of issues, loss prevention, and automatic software updates. Market leaders like Microsoft, Amazon, IBM, and Google have significantly invested in quantum computing and partnered to provide cloud-based SaaS models for their quantum computers, making the technology accessible to businesses.
The rapid growth of advanced technologies has improved computing capabilities, enabling the resolution of complex problems at a sustained pace. Computing capabilities depend on the size of the memory on which data is processed and the computing power. The goal of next-generation technologies is to solve challenging problems that conventional computing cannot address due to speed, performance, and energy efficiency constraints. In July 2023, the U.S. Department of Defense (DoD) announced the use of the HPE Cray EX4000 system for processing physics, AI, and ML applications. It operates at 17.7 petaFLOPS, making it one of the world's most powerful processing capabilities.
Improved supply chain management, increased productivity, and streamlined operations are helping SMEs benefit from digital transformation. SMEs have automated their processes and reduced costs using cloud computing, AI, and blockchain. For example, in December 2022, UST, a digital transformation solutions provider, announced collaboration with Intel and SAP to facilitate the migration of SMEs in northern Malaysia to Industry 4.0, offering significant opportunities for solution providers.
The increase in manufacturing activities is expected to boost the growth of the next-generation computing market. The manufacturing industry transforms raw materials or components into finished products using labor, machinery, and chemical processes. Next-generation computing is integral to modern manufacturing, providing increased efficiency, accuracy, and flexibility throughout the production process.