Hyperscale Data Center Market to be Worth $71.2 Bn by 2022, Says Allied Market Research
PORTLAND, Oregon, September 6, 2018 /PRNewswire/ --
The global hyperscale data center market would grow at a CAGR of 20.7% through 2022 owing to their surge in adoption across various industries, downfall in total cost of ownership, and improvement in energy efficiency.
Allied Market Research published a report, titled, Hyperscale Data Center Market by Type (Cloud Providers, Colocation, and Enterprises) and Application (Manufacturing, Government Utilities, BFSI, IT & Telecommunication, Healthcare, and Energy) - Global Opportunity Analysis and Industry Forecast, 2014 - 2022. The report provides in-depth information on market trends, value chain analysis, drivers & opportunities, competitive landscape, new strategic developments, and market player positioning analysis. According to the report, the global hyperscale data center market is expected to generate $71.2 billion by 2022 from $26.33 billion in 2017, growing at a CAGR of 20.7% from 2017 to 2022.
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Increase in adoption of hyperscale data centers across various industries, low total cost of ownership (TCO), and improved energy efficiency have fueled the growth of the global hyperscale data center market. However, prolonged power outage in some regions, storage limitations, and massive heat generation have restrained the growth of the industry. On the other hand, increase in applications of cloud computing, big data, social media, online gaming, and others are expected to create new pathways for the market in future.
Cloud service to contribute lion's share by 2022
Cloud service provider segment contributed more than two-thirds of the total market share in 2017 and would continue to maintain its leading position throughout the forecast period, owing to enhanced reliability and improved speed of adopting cloud-based services. However, enterprises segment would register the fastest CAGR of 27.7% from 2017 to 2022, owing to their capability to cater to the evolving business requirements as well as improve energy efficiency. The other type of hyperscale data center analyzed in the report is colocation.
IT & Telecom sector dominant, manufacturing sector fastest
IT & Telecom sector contributed nearly one-fifth share of the global hyperscale data center industry in 2017, owing to the surge in smartphone & tablet users and rise in dependence on IT systems and services. However, manufacturing sector would grow at the fastest CAGR of 23.7% during the forecast period, owing to ease in identifying relationships and patterns in various processes.
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Asia-Pacific to lead from the front by 2022
Burgeoning demand for cloud services among small-, medium-, and large-scale enterprises along with growing adoption of new architecture & technologies across various sectors would enable the Asia-Pacific region to grow at the fastest CAGR of 24% during the forecast period. However, North America accounted for the major market share of nearly one-third of the total market share in 2017.
Leading players the industry
The key companies analyzed in the study include Intel Corporation, SanDisk Corporation, Nlyte Software, Cisco Systems, Inc., Avago Technologies, Ericsson, Hewlett-Packard, International Business Machines Corporation, Cavium, Inc., and Mellanox Technologies, Inc. In addition, the report includes various strategies including new product launches, partnerships, mergers & acquisitions, collaborations, joint ventures, and others that have been adopted by these players to gain a strong footprint and expand their presence in the industry.
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