The market for Field Device Management Market is expected to reach USD$ 18.55 Bn in 2027.
Globally, the hyperscale data centers market is expected to grow with a CAGR of more than 17.5% during the forecast period from 2019 to 2027, starting from US$ 18.55 billion in 2017. Hyperscale data centers are designed to offer a single, largely scalable computer architecture. The primary idea behind developing hyper-scale data centers is to start with a small infrastructure in order to keep the initial investments as low as possible. Based on the increasing demand, the initial infrastructure can be exhausted by adding new nodes to the cluster.
Furthermore, the growing demand for online services such as social networking, gaming websites, and live channels is generating a large volume of data that needs proper storage and processing. Cloud computing has been changing data storage requirements, and its rapid growth is expected to generate high demand for cloud resources and data centers. Moreover, hyper-scale data centers provide various advantages, such as maximizing the cooling effect, allocating electrical power in discrete packages, ensuring electricity availability, and balancing workloads across servers. These accomplishments of hyper-scale data centers also drive their adoption.
Hyperscale data centers are largely adopted by big companies such as Amazon and Google. Due to the increasing number of IT companies and rapid growth in computer technologies, the hyperscale data center is thereby supporting its emergence as one of the fastest-growing technologies in the IT infrastructure world. However, hyper-scale data centers consume a large amount of power, which generates heat that is harmful to the environment. Also, in order to develop a hyper-scale data center, the initial investment and installation costs are very high. Also, there can be issues with the limitation of storage space, which could also slow the rate of adoption of hyperscale data centers. These factors are likely to hinder the growth of this market during the forecast period.
Based on components, the hyperscale data center market is segmented into solutions and services. The solutions segment covers the market for cooling, IT racks and enclosures, power, LV/MV distribution, networking equipment, and DCIM. The networking equipment segment is likely to dominate the hyper-scale data center market by holding a market share of around 30%. As there is a rapid increase in the size of IT facilities to support widespread business operations, there is a growing need for smooth data transfer and data integration.
Integration of a large number of servers and storage devices requires effective network infrastructure to ensure effective communication and sharing of enterprise data. Also, large companies are gradually moving towards adopting software-defined networking technology, which helps them achieve high performance and low expectancy in data processing and transmission. These factors largely drive the demand for networking equipment and thus fuel the growth of this market.
North America dominates the hyper-scale data center market by holding the largest market share of the total revenue generated worldwide. Owing to the technological advancements and increasing adoption of cloud-based solutions for big data storage and cloud computing in North America, this region has a greater impact on the overall market size of hyper-scale data centers. Following North America, Europe holds the second position in the global market owing to the increasing adoption of this solution in various industry verticals.
As the companies in North America and Europe have high spending capacities, these regions dominate the global market; however, Asia-Pacific is expected to grow at the highest CAGR during the forecast period. As countries such as India and China provide significant IT infrastructure, have a strong presence of OTT providers and telecom operators, and have a large customer base, the hyperscale data center market is experiencing a boom in this region. Moreover, there is a strong internet penetration rate in this region, which also provides high growth opportunities to the service providers.
Some of the prominent players operating in the Schneider Electric SE include NVIDIA Corporation, Sandisk LLC, Lenovo Group Ltd., IBM Corporation, Intel Corporation, Microsoft Corporation, Cisco Systems, Inc., Dell, Inc., Huawei Technologies Co., Ltd., Cavium, Inc., and Broadcom Ltd., among others.
This research report presents the analysis of each segment from 2017 to 2027, considering 2018 as the base year for the research. The compound annual growth rate (CAGR) for each of the respective segments is calculated for the forecast period from 2019 to 2027.
The hyper-scale data centers market report provides market size and estimates based on market dynamics and key trends observed in the industry. The report provides a holistic view of the global hyperscale data center market based on solution, service, application, end-user, and geography. Key segments covered in the report are as follows:
The market for Field Device Management Market is expected to reach USD$ 18.55 Bn in 2027.
The Field Device Management Market is expected to see significant CAGR growth over the coming years, at 17.5%.
The report is forecasted from 2019 -2027.
The base year of this report is 2018.
Lenovo Group Ltd., IBM Corporation, Intel Corporation, Microsoft Corporation, Cisco Systems, Inc., Dell, are some of the major players in the global market.