Press release

Analysis on Impact of COVID-19-Technavio Evaluates the Impact of a Surge in Cloud Adoption and an Increase in Business Operational Needs in its Hyperscale Data Center Market Analysis

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The hyperscale data center market is likely to experience steady growth because of the surge in cloud adoption and an increase in business operational needs. Rising at a CAGR of over 21%, the market is estimated to have an incremental growth of USD 62.89 billion by 2024. Download Free Sample Report

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Technavio has announced its latest market research report titled Global Hyperscale Data Center Market 2020-2024 (Graphic: Business Wire)

Technavio has announced its latest market research report titled Global Hyperscale Data Center Market 2020-2024 (Graphic: Business Wire)

A Technavio analyst says, “The global hyperscale data center market will witness an upsurge due to the spread of COVID-19. The extension of containment efforts is leading to increased demand and reduced production. Hence, the prices are expected to remain elevated in the short term, thereby resulting in an improved topline growth of market players.”

Technavio’s recent analysis of hyperscale data center market, includes a detailed examination of its revenue forecasts, including market drivers and challenges, key market participants, and growth opportunities. The study segments the markets in North America, Europe, APAC, South America, and MEA, geographically. The North America region is expected to have a market share of 34%. This growth can be attributed to infrastructure innovations.

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Increasing incidences of data breach and the consolidation of data centers might hamper market growth. However, the construction of green data centers and the growing use of free cooling techniques are expected to positively influence the growth of the global hyperscale data center market.

Technavio’s analysis of the hyperscale data center market also includes:

  • CAGR of the market during the forecast period 2020-2024
  • Detailed information on factors that will drive the hyperscale data center market growth during the next five years
  • Precise estimation of the hyperscale data center market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the hyperscale data center market industry across North America, Europe, APAC, South America, and MEA
  • A thorough analysis of the market’s competitive landscape
  • Comprehensive details of factors that will challenge the growth of hyperscale data center market vendors

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Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.