Hyperscale Data Center Market Revenue Will Reach $104.8 Billion By 2024, Says Esticast Research and Consulting
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As per the report “Hyperscale Data Center Market by Application (IT and telecom, BFSI, Government utilities, Healthcare, Energy, Manufacturing),by User Type (Cloud providers, Colocation, Enterprises), by Component (Servers, Networking), Industry trends, Estimation & Forecast, 2016 – 2024,” the global Hyperscale Data Center Market was valued at $23.4 billion in 2016, and is projected to reach $104.8 billion by 2024, growing at a CAGR of 20.7% from 2017 to 2024.
In 2016, Server Component segment held the largest share of the global Hyperscale Data Center market. Among the major regions, North American Hyperscale Data Center market was the highest revenue generating market valued at $8.4 billion in 2016.
“Increasing data across every digital platform has created the need for a customized data center to cater the specific need of organization. The ability provide tailor-made data center with advantages such as self-servicing, has boosted the market for Hyperscale data center. The Hyperscale data center market is expected grow rapidly owing to numerous advantages including remote tech support, supply chain support, efficient & consistent process workflow, and task automation.”
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Cloud service provider has generated highest revenue in 2016 and expected to grow further at CAGR of 21.3%. However, the Enterprise user exhibits the highest CAGR for the forecasted period and is expected to gain 1/9th of total market share by 2024. The increasing adoption of cloud computing will drive the cloud service provider user type segment for notable growth in upcoming years.
BFSI market segment is expected to dominate the future market of Hyperscale data center.
The telecom and IT market segment are currently dominating the global Hyperscale data center market. However, BFSI application segment is expected to dominate Hyperscale data center market owing to range of application of Hyperscale data center market within BFSI domain. The BFSI market is expected to be 2/9th of total Hyperscale data center market by 2024 with growing CAGR of 22.70%.
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North American Market is expected to gain a 1/3rd share of total Hyperscale data center market by 2024.
North American market is dominating the global Hyperscale market in 2016, owing to factors such as enhanced connectivity and world-class IT infrastructure. North American market is expected to grow further with expected CAGR of 29.37% and will consist of 1/3rd market share by 2024. The Asia-Pacific market expected to highest revenue generating market by 2024 with notable CAGR of 24.0%.
North American Hyperscale Data Center Market, 2016 vs. 2024
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Hyperscale Data Center Market Key Finding
• The global Hyperscale Data Center Market was valued at $23.4 billion in 2016 and is projected to reach $104.8 billion by 2024
• North American market is expected to grow further with expected CAGR of 29.37% and will consist of 1/3rd market share by 2024
• The telecom and IT market segment are dominating the global Hyperscale data center market.
The global Hyperscale data center market is exceedingly competitive owing to the presence of numerous vendors. High computational power and customer base are two major criterion for market competition. Gaining customers by providing latest technology is the key strategy adopted by the market leaders. For instance, Hyperscale data upgraded their cooling system developed by Climaveneta S.p.A. in September 2015.
Some major players in the global Hyperscale data center market are Avago Technologies U.S. Inc., Cavium, Inc., Cisco Systems, Inc., Ericsson Inc., HP Inc., IBM Corporation, Intel Corporation, Mellanox Technologies, Inc., nlyte Software Inc., and SanDisk LLC.