At 19.7% CAGR, North America Hyperscale Data Center Market is Projected to be Worth US$ 1,74,383.95 Million by 2031, says The Insights Partners

According to The Insights Partners research, the North America hyperscale data center market was valued at US$ 41,427.70 million in 2023 and is expected to reach US$ 1,74,383.95 million by 2031, registering a CAGR of 19.7% from 2023 to 2031. Increase in data traffic and advent of IoT, big data, machine learning, and AI are among the critical factors attributed to drive the North America hyperscale data center market growth.

The rising penetration of connected devices and easy access to the Internet, coupled with the decreasing cost of Internet services, have resulted in an upsurge in the demand for data storage worldwide. Companies are digitizing their operation to capture more data from customer interactions, supply chains, equipment, and internal processes. Cloud-based companies are, therefore, deploying more IT space in their data centers. Moreover, advanced analytic software such as Python, machine learning, and R programming are leveraging a large amount of data to support critical business decision-making. Several industries are exploring cloud offerings and discovering the benefits of data center services to support their needs related to the cloud. These developments are directly affecting the increase in the Internet of Things (IoT) and data needs of companies, resulting in the increasing demand for hyperscale data centers. Thus, the enormous growth in data traffic is propelling the demand for hyperscale data centers.

On the contrary, the high initial and maintenance cost hampers the growth of North America hyperscale data center market.

Based on solutions, the North America hyperscale data center market is segmented into storage, networking, server, security, and others. The storage segment held 33.7% market share in 2023, amassing US$ 13,979.90 million. It is projected to garner US$ 59,795.82 million by 2031 to register 19.9% CAGR during 2023–2031.

In terms of end user, the North America hyperscale data center market is segmented into colocation providers, enterprises, and cloud providers. The colocation providers segment held 43.6% share of North America hyperscale data center market in 2023, amassing US$ 18,081.74 million. It is anticipated to garner US$ 77,036.02 million by 2031 to expand at 19.9% CAGR during 2023–2031.

By industry vertical, the North America hyperscale data center market is segmented into BFSI, telecom and IT, government and public, media and entertainment, and others. The BFSI segment held 31.7% market share in 2023, amassing US$ 13,121.20 million. It is projected to garner US$ 56,572.15 million by 2031 to register 20.0% CAGR during 2023–2031.

By country, the North America hyperscale data center market is segmented into the US, Canada, and Mexico. Our regional analysis states that the US captured 90.9% share of North America hyperscale data center market in 2023. It was assessed at US$ 37,641.21 million in 2023 and is likely to hit US$ 1,60,228.56 million by 2031, registering a CAGR of 19.8% during 2023–2031.

Key players operating in the hyperscale data center market are ABB Ltd; Dell Technologies Inc; EdgeConnex Inc.; Cisco Systems Inc; International Business Machines Corp; Fujitsu Ltd; Hewlett Packard Enterprise Development LP; Intel Corp; Juniper Networks Inc; and Schneider Electric SE, among others.

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