New Delhi, April 16, 2022 (GLOBE NEWSWIRE) — The data center market is growing at a high CAGR due to the increasing number of data centers due to rising government and large enterprise investments in IT infrastructure, as well as the rapid shift of enterprises towards a cloud environment…
A recent study by the strategy consulting and market research company BlueWeave Consultingrevealed that the data center market was worth $206.2 billion in 2021. It is estimated to grow at a CAGR of 10.20% and generate around $404.9 billion in revenue by the end of 2022. The growth of the data center market is attributed to the increasing number of data centers due to rising government as well as large enterprise investments in IT infrastructure and the rapid shift of enterprises to a cloud environment. In addition, the increasing adoption of 5G and the introduction of advanced technologies such as AI, IoT, machine learning, big data, etc. are driving the growth of the data center market. However, high levels of hacking and cybersecurity threats can be a huge inhibiting factor for market growth.
Increasing demand from SMBs is driving the growth of the data center market
The data center market is divided into large enterprises and small and medium-sized enterprises based on the company. The large enterprise segment holds the highest market share due to the increasing integration of advanced business tools such as data analysis and big data, which affects their need to store large amounts of data generated daily. As a result, multinational companies often choose enterprise data centers with advanced data security, which is a key growth driver for this segment.
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The increasing adoption of advanced technologies supports the growth of the data center market
The increasing proliferation of data-generating devices such as smartphones, wearable devices, IoT sensors, remote patient monitoring devices, as well as the introduction of advanced technologies such as artificial intelligence, machine learning, big data, etc. are significantly driving the growth of the data center market. The companies are employing data analytics tools to process and manage large amounts of data that can provide insights and trends related to their business performance, market trends, customer demands, etc. which are expected to drive the market growth over the forecast period.
Data Center Market – by End User
Based on end user, data center market is segmented into BFSI, IT & Telecom, Government, Energy & Utilities and Others. Due to the increasing reliance on internet banking and increasing penetration of online payment applications and mobile wallets, the BFSI segment occupies the largest market share. Additionally, the need for the BFSI sector to remain operational 24/7 to keep trading and economic activity flowing plays a crucial role in fueling the growth of the data center market.
Please visit the press release of data center market: https://www.blueweaveconsulting.com/press-release/data-center-market-is-forecast-to-grow-at-the-cagr-of-10-20-in-the-forecast-period
Data Center Market – Regional Insights
Geographically, the data center market is segmented into North America, Europe, Asia Pacific, Latin America, Middle East and Africa. North America dominates the data center market. However, the Asia Pacific region is forecast to show the highest CAGR over the forecast period. Countries like Singapore, China, India, etc. are investing heavily in IT infrastructure and building new data centers to manage the ever-growing volume of data in their respective regions. In addition, a large number of small and medium-sized enterprises and the increasing adoption of cloud computing among them also provide lucrative growth opportunities for the Asia-Pacific data center market.
Impact of COVID-19 on the Data Center Market
The unprecedented COVID-19 outbreak presented significant growth opportunities for the data center market. Although the market was initially halted by the lockdown due to hindrances in building data centers due to social distancing norms and lack of hardware components. However, the increasing adoption of cloud computing, mainly due to the growing culture of working from home and the increasing popularity of mobile streaming apps, is expected to bring lucrative growth opportunities to the data center market during the forecast period.
The leading players in the data center market are Equinix, Digital Realty, NTT Communications, China Telecom, Telehouse/KDDI, Coresite, Verizon, Cyxtera Technologies, China Unicom, Amazon Web Services, 365 Data Centers, CoreSite Realty Corporation, CyrusOne, Inc., Lumen Technologies, Inc., DuPont Fabros Technology, Inc., SUPERNAP, QTS Realty Trust, Inc., Microsoft Corporation and other prominent players.
The market is highly concentrated and dominated by global players such as AWS, NTT Communications, Microsoft etc. However, the regional players are also emerging and are targeting SMEs with their economic offers in order to expand their market. The companies offer a wide range of services such as colocation, hardware installation and maintenance, data backup and archiving, etc. to capture a larger market share. In addition, the introduction of competitive strategies such as partnerships, mergers, acquisitions, joint ventures, etc. in this market is also significant.
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The in-depth analysis of the report provides information about growth potential, upcoming trends and statistics of data center market. It also highlights the factors driving overall market size forecasts. The report promises up-to-date data center market technology trends and industry insights to help decision makers make informed strategic decisions. In addition, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.
The latest development
- In February 2022, AtlasEdge, a European edge data center company, announced the acquisition of Cornelius House, the largest purpose built data center in Yorkshire City, England.
- In February 2022, AIS, a Thai wireless company, announced its partnership with Singapore Telecommunications Limited and Gulf Energy to develop data centers in the country.
scope of the report
|years considered||Historical data – 2018-2021|
|Base year – 2021|
|Forecast – 2022 – 2028|
|facts covered||Sales in billion USD|
|market coverage||USA, Canada, Germany, UK, France, Italy, Spain, Brazil, Mexico, Japan, South Korea, China, India, United Arab Emirates, South Africa, Saudi Arabia|
|Product Service/Segmentation||By component, by type, by company size, by end user, by region|
|key figures||Equinix, Digital Realty, NTT Communications, China Telecom, Telehouse/KDDI, Coresite, Verizon, Cyxtera Technologies, China Unicom, Amazon Web Services, 365 Data Centers, CoreSite Realty Corporation, CyrusOne, Inc., Lumen Technologies, Inc., DuPont Fabros Technology , Inc., SUPERNAP, QTS Realty Trust, Inc., Microsoft Corporation and other prominent players.|
By company size
- Large companies
- Small and medium-sized businesses
By end users
- IT & Telecom
- Energy & Utilities
- North America
- Asia Pacific
- Latin America (LATAM)
- Middle East & Africa (MEA)
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