Covina, June 15, 2023 (GLOBE NEWSWIRE) -- “According to the latest research study, the demand of Data Center Market accounted for US$ 101.8 billion in 2022 and is estimated to be US$ 218.6 billion by 2032 and is anticipated to register a CAGR of 7.5%.
What is Data Centre Market?
A data center is a building or group of buildings used to set up computer systems and associated components such as telecommunications and storage systems. They are made up of three primary types of components: compute, storage, and network.
Growing investment in data center has become major driving factor in market growth. Migration to cloud-based business operations and increased adoption of converged and hyper-converged infrastructure platforms is expected to contribute to the growth of the data center market over the forecast period.
What are Recent Key Highlights in the Data Centre Market?
- In May 2023, Web Werks launched new data center in partnership with Iron Mountain in Hyderabad, India. This partnership will offer consumers carrier access and easy cloud which is driven by hyperscale demand for improved connectivity-rich ecosystem.
- In March 2023, OVHcloud launched new data center in Mumbai, India. New launched data center is composed with compute and scalable storage capabilities with high-performance cloud solutions.
Report Scope:
| Attribute | Details |
| Base year for estimation | 2022 |
| Forecast period | 2022 – 2032 |
| Accounted in 2022 | US$ 101.8 billion |
| Estimated to be in 2032 | US$ 218.6 billion |
| CAGR | 7.5% |
| Market representation | Revenue in USD Billion & CAGR from 2022 to 2032 |
| Market Segmentation | By Component - Solution and Services By Type - Colocation, Hyperscale, Edge and Others By Enterprise Size - Large Enterprises and Small & Medium Enterprises (SMEs) By End User - BFSI, IT & Telecom, Government, Energy & Utilities and Others |
| Regional scope | North America - U.S., Canada Europe - UK, Germany, Spain, France, Italy, Russia, Rest of Europe Asia Pacific - Japan, India, China, South Korea, Australia, Rest of Asia-Pacific Latin America - Brazil, Mexico, Argentina, Rest of Latin America Middle East & Africa - South Africa, Saudi Arabia, UAE, Rest of Middle East & Africa |
| Report coverage | Revenue forecast, company share, competitive landscape, growth factors, and trends |
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What is Prophecy’s Analyst View on Data Centre Market?
Growing access to IoT (Internet of Things) and technological innovation has become major factor in market growth. Further growing government initiatives for supporting data center development in the form of tax incentives is also projected to propel the growth of the market in the near future.
What is New Trend and Innovations in Data Centre market?
◘Edge Computing
◘Hybrid & Multi-Cloud Environments
◘Green Data Centers
◘Modular Data Centers
◘Software-Defined Data Centers (SDDCs)
◘High-Density Computing
◘Data Center Security
◘Data Center Infrastructure Management (DCIM)
Which companies are the major players in the Data Center Market?
- Alphabet Inc.*
- Amazon. Com Inc.
- Digital Realty
- Equinix Inc.
- Hewlett Packard Enterprise
- IBM Corporation
- China Telicom
- NTT Communication Corporation
- Oracle
- SAP SE
Market Dynamics:
The data center market is experiencing strong growth driven by the increasing demand for digital transformation, cloud computing, and data-intensive applications. Organizations across industries are relying on data centers to store, process, and manage their expanding data volumes. Stricter regulatory compliance requirements, particularly regarding data protection and privacy, are also shaping market dynamics.
Consolidation and mergers among data center providers are reshaping the competitive landscape. Energy efficiency and sustainability are key concerns, leading to innovations in energy-saving technologies. Security and data privacy remain critical considerations, driving the implementation of robust security measures to protect against cyber threats and breaches. Overall, the data center market is evolving to meet the growing demands of the digital era.
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What are Possibilities for Growth in Data Centre Market?
- Increased Cloud Adoption
- Expansion of Edge Computing
- Adoption of AI and ML technologies
- 5G and IoT
- Emerging Markets
- Sustainable and Green Data Centers
- Data Privacy and Security
- Hybrid and Multi-Cloud Solutions
These factors represent potential areas of growth in the data center market, driven by the increasing demand for cloud services, edge computing infrastructure, AI/ML capabilities, 5G and IoT technologies, emerging markets, sustainable practices, data security, and the need for seamless management of multiple cloud environments.
What are Impact of Recession on Data Centre Market?
- Slower Growth
- Cost Optimization
- Shift to Cloud Services
- Consolidation and Mergers
- Increased Focus on Efficiency
- Delayed Infrastructure Investments
- Heightened Security Concerns
These points highlight the potential effects of a recession on the data center market, including slower growth, cost optimization measures, increased adoption of cloud services, consolidation and mergers, emphasis on efficiency, delayed infrastructure investments, and heightened security concerns.
Conclusion:
In conclusion, the data center market is witnessing significant trends and innovations such as edge computing, hybrid and multi-cloud environments, green data centers, and high-density computing. The industry is driven by the growing demand for real-time applications, scalability, and sustainability. However, during a recession, the market may experience slower growth and increased cost optimization.
Despite these challenges, the data center market remains resilient, with potential growth opportunities in cloud adoption, edge computing, AI and ML technologies, and emerging markets. Overall, the industry continues to evolve to meet the demands of digital transformation and data-intensive applications.
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