Global hyperscale data center market projected to reach $355.87 billion by 2031, fueled by IoT and big data.

From GlobeNewswire: 2024-10-03 09:53:00

The global hyperscale data center market is experiencing significant growth due to IoT, big data, AI, and machine learning, along with an increase in data traffic. The market is projected to reach US$ 355.87 billion by 2031. Hyperscale data centers offer high computing power and storage capacities, revolutionizing the industry. North America leads the market, with Asia Pacific expected to register the highest CAGR.

Technological innovations such as IoT, big data, and AI generate massive data volumes, requiring low-latency processing and localized computing resources. IoT devices in Asia Pacific are projected to surpass 15 billion by 2023, generating 79.4 zettabytes of data by 2025. The rise in data traffic due to connected devices and digitization of operations is propelling the demand for hyperscale data centers.

In 2023, North America led the hyperscale data center market, followed by Europe and APAC. The market is segmented by solutions, end users, and industry verticals. Major companies in the market include ABB Ltd, Dell, Cisco, IBM, Fujitsu, and Intel. Trending topics include sustainability, edge computing, AI, and quantum computing. The market report provides valuable insights for stakeholders to navigate this evolving landscape.

Hyperscale data centers offer cost-effective, scalable, and reliable solutions for data storage and processing needs. They power various applications, such as online gaming, high-volume transactions, and cutting-edge technologies like big data and AI. As companies and organizations increasingly rely on data centers for cloud-based storage and IT infrastructure, the hyperscale data center market is expected to grow significantly during the forecast period.



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