US & Canada, Oct. 03, 2024 (GLOBE NEWSWIRE) -- According to a new comprehensive report from The Insight Partners, the global hyperscale data center market is observing significant growth owing to advent of IoT, big data, machine learning, and AI and increase in data traffic.
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The report runs an in-depth analysis of market trends, key players, and future opportunities. In general, the hyperscale data center market comprises a vast array of software, hardware, and services that are expected to register strength during the coming years.
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Overview of Report Findings:
1. Market Growth: The hyperscale data center market share is expected to reach US$ 355.87 billion by 2031 from US 80.45 billion in 2023, at a CAGR of 20.4% during the forecast period. Hyperscale data centers, with their enormous computing, storage, and bandwidth capacities, as well as their potential to handle excessive data transfers, have revolutionized the data center industry. This development has completely changed the way businesses interact and collaborate. Global adoption of work-from-home policies since the onset of the COVID-19 pandemic has increased the demand for data centers.
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2. Technological Innovations: The Internet of Things (IoT), big data, machine learning, and artificial intelligence (AI) are a few technologies that generate massive data volumes. These technologies require low-latency processing and demand localized computing resources. IoTExpress Technologies Pvt. Ltd. projected the number of IoT devices to surpass 15 billion by the end of 2023 in Asia Pacific, recording a 55% increase from 2020. Additionally, these devices are expected to generate 79.4 zettabytes (ZB) of data by 2025. IoT generates enormous volumes of data for storing, processing, and analyzing in real time. IoT devices are widely used across the region, connecting physical objects and enabling data collection and communication.
3. Increase in Data Traffic: The rising penetration of connected devices and easy access to the Internet, coupled with the decreasing cost of Internet services, have resulted in an upsurge in the demand for data storage worldwide. Companies are digitizing their operation to capture more data from customer interactions, supply chains, equipment, and internal processes. Cloud-based companies are, therefore, deploying more IT space in their data centers. Moreover, advanced analytic software such as Python, machine learning, and R programming are leveraging a large amount of data to support critical business decision-making. Several industries are exploring cloud offerings and discovering the benefits of data center services to support their needs related to the cloud. These developments are directly affecting the increase in the Internet of Things (IoT) and data needs of companies, resulting in the increasing demand for hyperscale data centers. Thus, the enormous growth in data traffic is propelling the demand for hyperscale data centers.
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4. Geographical Insights: In 2023, North America led the US hyperscale data center market with a substantial revenue share, followed by Europe and APAC. Asia Pacific is expected to register the highest CAGR during the forecast period.
Market Segmentation:
- Based on solutions, the global hyperscale data center market share is bifurcated into storage, networking, server, security, and others. The storage segment held a larger share of the hyperscale data center market in 2023.
- By end user, the hyperscale data center market is segmented into colocation providers, enterprises, and cloud providers. The colocation providers segment held the largest share of the hyperscale data center market in 2023.
- In terms of industry vertical, the hyperscale data center market is divided into BFSI, telecom and IT, government and public, media and entertainment, and others. The BFSI segment held a larger share of the hyperscale data center market in 2023.
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- The global hyperscale data center market is segmented into five major regions: North America, Europe, APAC, Middle East and Africa, and South and Central America.
Competitive Strategy and Development:
- Key Players: A few major companies operating in the hyperscale data center market include ABB Ltd, Dell Inc, EdgeConneX Inc, Cisco Systems Inc, International Business Machines Corp, Fujitsu Ltd, Hewlett Packard Enterprise Development LP, Intel Corporation, Juniper Networks Inc, and Schneider Electric SE.
- Trending Topics: Sustainability and Green Data centers, Edge Computing, AI and Machine Learning, Quantum Computing Processing, and Software Defined Infrastructure, among others.
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Global Headlines on Hyperscale data center:
- "ABB India’s Electrification Business Launches Innovative UPS Solution for Data Centers"
- "AdaniConneX bags record $1.44 billion green financing for data centers"
- "Digital Realty Selects IBM Sustainability Software to Transform Data into Insights Across its Global Data Centers and Offices."
- "American Tower and IBM to Bring Edge Cloud Services to Enterprises for Enhanced Innovation and Customer Experiences."
Conclusion:
Hyperscale data centers are gaining significant popularity because of their high computing, storage, and bandwidth capacities, as well as the ability to move massive data. These data centers are cost-effective, scalable, safer, more dependable, and less harmful to the environment. Hyperscale data centers offer services such as data storage, management, backup, and recovery. They also power online gaming communities, facilitate high-volume transactions, and support cutting-edge technology implementation (such as big data, machine learning, and artificial intelligence). As a result, many companies and governmental organizations have begun to manage their own data centers or employ third parties, such as Google and Amazon, for cloud-based storage or server rentals, which are anticipated to fuel the hyperscale data center market during the forecast period.
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The report from The Insight Partners, therefore, provides several stakeholders—including component providers, system technology integrators, system manufacturers and others—with valuable insights into how to successfully navigate this evolving market landscape and unlock new opportunities.
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The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.
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