Security News > 2020 > June > Global revenue from OCP infrastructure market to reach $33.8 billion in 2024

Worldwide revenue from the Open Compute Project infrastructure market will reach $33.8 billion in 2024, according to IDC. While year-over-year growth will slow slightly in 2020 due to capital preservation strategies during the COVID-19 situation, the market for OCP compute and storage infrastructure is forecast to see a compound annual growth rate of 16.6% over the 2020-2024 forecast period.

"IDC projects massive growth in the amount of data generated, transmitted, and stored worldwide. Much of this data will flow in and out of the cloud and get stored in hyperscale cloud data centers, thereby driving demand for infrastructure," said Kuba Stolarski, research director, Infrastructure Systems, Platforms and Technologies at IDC. OCP technology by segment.

The compute segment will remain the primary driver of overall OCP infrastructure revenue for the coming five years, accounting for roughly 83% of the total market.

OCP Board Member purchases make up the bulk of the OCP infrastructure market and are poised to grow at a 14.8% CAGR through 2024, when they will account for just under 75% of the total market.

Conversely, non-member spending is projected to increase at a five-year CAGR of 23.2% and will expand its share of the OCP infrastructure market by just over 600 basis points during that period.

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