The hyperscale data center market is estimated to be worth USD$80.65 billion by 2022 according to a new report.
MarketsandMarkets, equipped with a team of 850 full-time analysts and SMEs, aims to track the global high growth markets.
Their recent report, "Hyperscale Data Center Market by Solution, Service, End-User, Data Center Size, Industry, and Region - Global Forecast to 2022", focuses on the hyperscale data center market across a range of regions.
The hyperscale data center market segments the global market on the basis of regions which include North America, Asia Pacific, Europe, Middle East and Africa, and Latin America.
The findings show a growth in the hyperscale data center market from USD 25.08 Billion in 2017 to USD 80.65 Billion by 2022, at a Compound Annual Growth Rate (CAGR) of 26.32%.
Major factors of this growth include growing requirements for high application performance, growing needs for reduction in capital and operational expenditures, and increasing data center technology spending.
This rapid growth is owing to the increasing number of users opting for these solutions which help them to scale their infrastructure as the demand increases.
The highest CAGR growth rate between 2017-2022 is expected to be in the storage solutions sector, the report outlines.
The benefits of these solutions are driving the hyperscale data center market.
These benefits include helping scale enterprise IT infrastructure in a cost-effective way. Another benefit is that these solutions provide organisations with a solution that helps them reduce the differences between traditional file-based applications and new object access paradigms.
In addition, maintenance and support services are expected to grow at a rapid pace due to the increasing needs to maintain critical IT infrastructure.
According to the report, maintenance and support services provide various onsite and offsite services that aid organizations in various activities, such as device repair, disk wiping, resale, and recycling, to smoothen the business processes within the organizations.
Moreover, maintenance and support services help end-users to understand the changing business conditions and service inconveniences, owing to which these services are witnessing growing demands from small and medium-sized enterprises.
North America is expected to hold the largest share in the hyperscale data center market in 2017 due to the large number of data centers across various industry verticals in the region.
The report states that the APAC market is expected to grow at the highest CAGR between 2017 and 2022. An increase in data center traffic due to the surge in mobile devices in this region will be the driving force for this growth.