North America Hyperscale Data Center Market Report (2021-2031) by Scope, Segmentation, Dynamics, and Competitive Analysis
No. of Pages: 139 | Report Code: BMIRE00031960 | Category: Technology, Media and Telecommunications
No. of Pages: 139 | Report Code: BMIRE00031960 | Category: Technology, Media and Telecommunications
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; it is estimated to register a CAGR of 19.7% from 2023 to 2031.
The Internet of Things (IoT), big data, machine learning, and artificial intelligence (AI) are a few technologies that generate massive data volumes. IoT generates enormous volumes of data for storing, processing, and analyzing in real time. IoT devices are widely used across the region, connecting physical objects and enabling data collection and communication. The data centers positioned at the edge of the network can provide local computing power, storage, and analytics capabilities, reducing the latency and bandwidth requirements while transmitting data to a centralized data center. It also enables real-time decision-making and facilitates IoT deployments across several industries.
Further, processing and analyzing such massive datasets require significant computational power and storage capabilities. Hyperscale data centers offer a scalable and distributed architecture, allowing organizations to process and analyze big data. Furthermore, they enhance data processing efficiency and enable real-time analytics. In addition, machine learning and AI algorithms require substantial computational resources for training and inference tasks. Hyperscale data centers provide the necessary processing power and storage capabilities to perform these resource-intensive tasks in the vicinity of the data source. Organizations can reduce the latency by deploying hyperscale data centers at the edge. This supports autonomous vehicles, intelligent video analytics, predictive maintenance, and personalized recommendations, fostering the market.
Digital banking services have picked up a significant pace in North America in recent years. Digital banking innovations, such as AI-powered budgeting tools and mobile payment platforms, are revolutionizing the banking industry and propelling the hyperscale data center market. In addition, several digital banks are employing AI to improve client experience and productivity. In October 2023, the American Bankers Association through its new survey found that, around 71% of consumers prefer to manage their bank accounts using a mobile app (48%) or a computer (23%). Thus, the growing digitization in banking is fueling the growth of the hyperscale data center market in the US.
The North America hyperscale data center market is categorized into solutions, end user, industry vertical, and country.
Based on solutions, the North America hyperscale data center market is segmented into storage, networking, server, security, and others. The storage segment held the largest market share in 2023.
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 the largest market share in 2023.
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 the largest market share in 2023.
By country, the North America hyperscale data center market is segmented into the US, Canada, and Mexico. The US dominated the North America hyperscale data center market share in 2023.
| Report Attribute | Details |
|---|---|
| Market size in 2023 | US$ 41,427.70 Million |
| Market Size by 2031 | US$ 1,74,383.95 Million |
| Global CAGR (2023 - 2031) | 19.7% |
| Historical Data | 2021-2022 |
| Forecast period | 2024-2031 |
| Segments Covered |
By Solutions
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
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 are some of the leading companies operating in the hyperscale data center market.
The North America Hyperscale Data Center Market is valued at US$ 41,427.70 Million in 2023, it is projected to reach US$ 1,74,383.95 Million by 2031.
As per our report North America Hyperscale Data Center Market, the market size is valued at US$ 41,427.70 Million in 2023, projecting it to reach US$ 1,74,383.95 Million by 2031. This translates to a CAGR of approximately 19.7% during the forecast period.
The North America Hyperscale Data Center Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the North America Hyperscale Data Center Market report:
The North America Hyperscale Data Center Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The North America Hyperscale Data Center Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the North America Hyperscale Data Center Market value chain can benefit from the information contained in a comprehensive market report.
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