NEWARK, Del, Sept. 22, 2022 (GLOBE NEWSWIRE) -- The global data center market was expected to register an impressive growth rate of 7.5% across the forecast period from 2022 to 2032. The market garnered a valuation of US$ 101.79 Billion in 2022 and is expected to accumulate a market value of US$ 209.8 Billion by 2032.
According to the historic period ranging from 2017 to 2021, the global data center market registered a healthy CAGR of 5.5%. Owing to the rising adoption of small and mid-scale data centers has fueled the growth across several sectors. The growth of the data center market is attributed to the exponential rise in data consumption and data generation by various organizations all over the world.
Countries all over the world reported massive data demand during the pandemic which elevated the importance of digital technology and data centers. Attributing to these factors, the data center demand is anticipated to increase with a 7.5% CAGR throughout the 2022-2032 assessment period.
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Key Takeaways
- Amidst the Covid 19 pandemic, the growth of the data center market accelerated at a robust pace since the pandemic pushed organizations towards digital transformations, owing to the rise in remote working calls and the need for rapid mobilization of cloud computing in order to cope with a rise in demand for data.
- Data center colocation offers a high-performance environment for IT infrastructure. Customers can efficiently focus on their core business by collocating their data servers instead of tiring themselves by managing a data center. In addition to that, data center colocation also provides the benefits of 100% uptime SLA.
- Data center colocation providers offer building (space), cooling, power units, bandwidth, and physical security for customers to install their own servers and storage. In addition to that, colocation also offers dedicated, private connection options to hundreds of networks and IT service providers to help streamline the architecture. Companies are able to scale their environment according to their customized needs by selecting a collocated, multi-tenant data center
- The Internet has massively influenced individual consumers and large economies alike. It has become an increasingly crucial part of our everyday life. Emerging economies like India and China are exhibiting high demand for social media, television, video streaming, e-Commerce, and net banking, all of which require robust IT infrastructure and data networks.
- Over the past couple of years, technological advancements have accelerated the pace of processing data and enabled vast amounts of data storage. The emergence of 5G IoT technology has totally transformed the design and deployment of data centers in the last two decades. It is estimated that IoT will include 35 billion units installed by 2022.
- Large quantities of data are generated due to the deployment of IoT that needs to be processed and analyzed in real-time. As more data gets generated, a corresponding growth will be witnessed in demand for storage space.
Competitive Landscape
Key market players in the data center market are focusing on multiple expansion strategies in order to deepen their penetration all over the lucrative markets. These strategies comprise product launches, collaborations with key players, partnerships, acquisitions, and the strengthening of regional and global distribution networks.
IBM Corporation, Cisco System, Inc., HPE, Dell Technologies, Hitachi Ltd, NTT Communications, Schneider Electric, Comarch SA, ABB, Huawei Technologies Co., Ltd.
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More Insights into the Cocoa Butter Market
The U.S. reported a year-on-year growth until 2020 of over 2.7% in order to reach a valuation of US$ 32.15 Bn. The U.S. is known as the dominant market owing to the increased data shipment due to the rising popularity of moving localized data center activity to colocation or cloud facilities. In addition to that, the market is likely to experience a rise in edge data center computing to deliver services with low latency and high efficiency across the country.
The U.K. is considered a lucrative market for colocation services as it comprises 250 operational colocation data centers. The rising demand for data center services from business and consumer end users is driving investment in the UK data center market. The U.K. data center market is estimated to reach a valuation of 7,379.0 Mn by the end of 2032 by registering a CAGR of 10%.
Key Segments Profiled In The Data Center Market Industry Survey
Data Center by Component:
- Data Center by Hardware
- Data Center Software
- Data Center Service
Data Center by Size:
- Small Data Center
- Mid-Sized Data Center
- Large Data Center
Data Center Market by Industry:
- Data Center for IT & Telecom
- Data Center for BFSI
- Data Center for Manufacturing
- Data Center for Healthcare
- Data Center for Media & Entertainment
- Data Center for Others
Data Center by Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Pacific
- Middle East & Africa
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Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply Side Trends
1.4. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Key Market Trends
3.1. Key Trends Impacting the Market
3.2. Product Innovation / Development Trends
3.3. Key Use-Case Analysis & Product Potential
3.4. Key Success Factors
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