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Hyperscale data center market revenue will reach $104.8 billion by 2024 according to new research report

IT Market Research

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.

As per the report "Hyperscale Data Center Market Make an Inquiry about this news 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.

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Cloud service providers are the highest revenue generating segment in 2016.