New York, Jan. 11, 2024 (GLOBE NEWSWIRE) -- The global hyperscale data center market size is expected to expand at ~29.32% CAGR from 2023 to 2035. The market is anticipated to garner a revenue of USD 1786.7 billion by the end of 2035, up from a revenue of ~USD 81.67 billion in the year 2022.The major factor to encourage the market growth is the surge in the production of data. Every day, nearly 327 million terabytes of data are generated. As a result, the demand for hyperscale data centers is set to grow.
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Furthermore, there has been a rise in employees working remotely. For instance, the current percentage of full-time employees who work remotely approximates 11%, demonstrating the rapid proliferation of remote work environments. Interestingly, a significant over 27% of employees now operate in a mixed style. Hence, the need for hyperscale data centers is also growing. Hyperscale data centers are a great choice for disaster recovery since they are scalable, secure, and reliable in the case of remote working. Furthermore, a data center can provide access to cutting-edge capabilities that the business would not otherwise be able to afford.
Growing Use of the Internet to Boost the Growth of the Hyperscale Data Center Market
There were over 4 billion internet users globally as of October 2023, or close to 64% of the world's population. Thus, it is predicted that as the number of internet users increases, will also increase the volume of data generated. In furthermore, there has been a recent improvement in internet speed. Thus, the widespread availability of high-speed internet connections makes it simpler for individuals and businesses to create, access, and share data. Faster internet connections have enabled video conferencing, real-time streaming, and quick access to information worldwide possible. Since there is no indication that data generation will slow down anytime soon, it is anticipated that the industry will expand as well.
Hyperscale Data Center Market: Regional Overview
The market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa region.
Rise in the Number of Hyperscale Data Centers to Influence the Market Growth in North America
The hyperscale data center market in North America is projected to generate the largest market share of about 35% over the forecast period. This could be owing to the rise in a number of hyperscale data centers in this region. For instance, in 2021, the United States were known to have a significant amount of hyperscale data center of about 38% compared to other nations.
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Surge in Number of Social Media Users to Drive the Market Expansion in Asia Pacific
The Asia Pacific market for hyperscale data center to capture a notable share of about 24% over the coming years. The major element that is driving the market growth in this region is the rise in the number of social media users. For instance, with over 2 billion active social media users as of January 2023, Chinese residents undoubtedly had a significant online presence.
Hyperscale Data Center, Segmentation by User Type
- Cloud
- Colocation
- Enterprise
The cloud segment is predicted to capture the highest share in the market of over 58% over the coming years. This could be on account of rising adoption of cloud. As of 2022, the vast majority of organizations (over 60%) employ one (almost 33%) or two (almost 26%) clouds in their operations.
Hyperscale Data Center, Segmentation by Industry
- IT & Telecom
- BFSI
- Government
- Energy & Utilities
- Retail & Manufacturing
- Healthcare
- Others
The BFSI segment is expected to have notable growth over the forecast period. The major element to influence the segment growth is rising data generated by BFSI sector. In the financial sector, data generation per second was projected to increase to over 699% by 2022. Banks possess vast quantities of information about customers, including information from ATM withdrawals and deposits, point-of-sale purchases, online payments, user profile data gathered for KYC, and more. Hence, the market is growing owing to this segment.
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A few of the well-known industry leaders in hyperscale data center market that are profiled by Research Nester are Chindata Group, NVIDIA Corporation, Yotta Infrastructure, Amazon.com, SanDisk Corporation, Hewlett Packard Enterprise Company, Cisco Systems, Inc., Telefonaktiebolaget LM Ericsson, Intel Corporation, Broadcom, Cavium, Inc., Niyte Software Limited, and others.
Recent Development in the Market
- The Bridge Data Centers (BDC), a division of the Chindata Group and a top provider of data centers in Malaysia, Thailand, and India, along with ByteDance, announced the inauguration of BDC's first phase hyperscale data center (MYOS) in Sedenak, Johor, Malaysia.
- The graphics processing unit (GPU) manufacturer and designer, NVIDIA Corporation, made an announcement regarding the NVIDIA Spectrum-4. The newest iteration of its Ethernet architecture makes it possible to achieve the high networking performance and strong security required for large-scale data center infrastructure.
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