DUBLIN, Nov. 1, 2023 /PRNewswire/ — The “Global Hyperscale Computing Market by Offering (Solutions and Services), Application (Cloud Computing, Big Data, IoT), Vertical (Manufacturing, Government & Defense, BFSI, IT & Telecom, Retail & Consumer Goods) and Region – Forecast to 2028” report has been added to ResearchAndMarkets.com’s offering.
The hyperscale computing market is poised for significant growth, with projections indicating a surge from USD 40.9 billion in 2023 to a whopping USD 109.2 billion by 2028. This substantial expansion is expected to occur at a remarkable Compound Annual Growth Rate (CAGR) of 21.7% during the forecast period.
Revolutionizing Computing for Innovation and Progress:
Hyperscale computing is a game-changer, essential for scientific research, engineering simulations, and high-performance computing tasks that demand immense computational power and storage capabilities. In today’s data-driven world, the proliferation of IoT devices generates massive data streams that require robust computing infrastructure. Hyperscale computing steps in to handle this data influx, enabling real-time processing and insights, thereby fueling market growth.
Transforming Our World:
Hyperscale computing is revolutionizing how people access and utilize technology, offering scalability and cost-effectiveness that have facilitated the rapid expansion of cloud services. This expansion has made computing power and storage accessible worldwide, fostering digital services across diverse sectors.
From e-commerce and social media to advanced artificial intelligence applications, hyperscale computing fuels progress. It accelerates scientific discoveries, innovation, and breakthroughs in medicine, climate research, and engineering simulations. Moreover, hyperscale data centers lead the way in environmental responsibility, implementing energy-efficient practices to reduce their carbon footprint.
Retail and Consumer Goods on the Rise:
The retail and consumer goods segment is anticipated to experience the highest Compound Annual Growth Rate (CAGR) within the hyperscale computing market during the forecast period. Hyperscale computing plays a pivotal role in transforming operations, enhancing customer experiences, and streamlining supply chain management in the retail sector. It powers large volumes of online transactions, supports e-commerce platforms, and provides omnichannel experiences.
Additionally, hyperscale computing facilitates real-time inventory management, personalized recommendations, and efficient order processing, enriching overall customer satisfaction.
Furthermore, data-driven decision-making in retail is greatly enhanced by hyperscale computing, allowing for processing and analysis of vast customer data to gain insights into behavior, preferences, and trends. This optimization extends to pricing strategies, product assortments, and marketing campaigns. Hyperscale computing also improves supply chain management by enabling real-time inventory tracking, demand forecasting, and optimization, leading to cost reductions and efficient logistics.
Leaders in Europe:
The European region is poised to hold the second-largest market share during the forecast period. Hyperscale computing has had a transformative impact on the European economy, technology landscape, and society. Businesses in Europe are increasingly embracing cloud computing, thanks to hyperscalers’ flexibility and scalability. This shift allows organizations to move away from legacy systems, optimize operations, and focus on their core competencies. Europe’s hyperscale presence has encouraged more companies to migrate data and applications to the cloud, enhancing business agility and continuity. Overall, hyperscale computing is set to drive Europe’s digital transformation, shaping an interconnected, data-driven future for the region.
Training, Support, and Maintenance Lead Services:
Among the various services in the hyperscale computing market, training, support, and maintenance are expected to dominate. These services are pivotal in helping organizations operate and maintain their hyperscale infrastructure effectively. Training equips personnel with the skills and knowledge required to manage hyperscale infrastructure efficiently. Support services ensure timely assistance and issue resolution, while maintenance services keep the infrastructure running smoothly through proactive monitoring and updates.
Premium Insights
- Drastic Geographic Changes and Technological Evolution to Drive Hyperscale Computing’s Archiving Growth
- Solutions Segment to Account for Largest Share in 2023
- Training, Support, and Maintenance Segment to Account for Largest Share in 2023
- Cloud Computing Segment to Account for Largest Share in 2023
- IT & Telecom to Account for Largest Share in 2023
- Asia-Pacific to Emerge as Best Market for Investments in Next Five Years
Market Dynamics
Drivers
- Rising Need for High-Performance Technology and Cloud Computing
- Growing Demand for Hyperscale Computing in Different Industries
- Growing Need to Reduce Capex and Opex
Restraints
- Higher Capital Expenditure and Lack of Data Control
Opportunities
- Hyperscale Data Centers to be New Paradigm for Delivering IT Services
- Rising Advancements in Modular UPS Systems
Challenges
- Managing and Storing Large Amounts of Data
- Adherence to Multiple Standards and Compliance Requirements
- Consumption of Massive Amounts of Electricity Resulting in Carbon Emissions
- Fear of Vendor Lock-In and High Costs
Case Study Analysis
- Reddit Migrated to Manage Amazon Aurora to Scale 30% Year-Over-Year Growth
- Synoptek Strategically Migrated Customers from Miami Data Center to Microsoft Azure
- Oracle Red Bull Racing Increased Simulations and Sharpened Decision-Making on Track with Oracle Cloud Infrastructure
- Gosh Formed Sustainable Innovation Using OVHcloud-Dedicated Servers
- Simplelogin Speeded Up Its Service with UpCloud-Managed Databases
For more information about this report visit https://www.researchandmarkets.com/r/z3nd8l
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