Westford,USA, June 20, 2024 (GLOBE NEWSWIRE) -- SkyQuest projects that the data center market will attain a value of USD 605.96 billion by 2031, with a CAGR of 6.56% during the forecast period (2024-2031). With the increase in size of internet users worldwide, fueled by the widespread growth in the ease of adopting mobile devices as well as high-speed broadband connections, fosters the demand for data center services. Adding to these factors, the growth of several streaming giants like Netflix, Hulu, and Amazon Prime Video also demands huge bandwidth and storage capabilities. At the same time, the significant increase in cloud computing adoption helps many businesses and organizations to scale up their operations faster and in a more efficient way without the need of investing in infrastructure heavily.
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Browse in-depth TOC on "Data Center Market"
- Pages - 157
- Tables - 234
- Figures – 81
Data Center Market Overview:
| Report Coverage | Details |
| Market Revenue in 2023 | $ 364.50 Billion |
| Estimated Value by 2031 | $ 605.96 Billion |
| Growth Rate | Poised to grow at a CAGR of 6.56% |
| Forecast Period | 2024–2031 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Component, Type, Sever Rack Density, Data Center Redundancy, PUE, Design, Tier Level, Enterprise Size, End User |
| Geographies Covered | North America, Europe, Asia Pacific, Middle East & Africa, Latin America |
| Report Highlights | Updated financial information/ product portfolio of players |
| Key Market Opportunities | Increasing Demand for AI and Cloud Services |
| Key Market Drivers | Demand for data continues to grow exponentially. |
Hybrid Segment Leads the Market by Offering Intensive Data Storage and Computational Capabilities
The hybrid segment has captured the largest market share, amounting to 65% in the marketplace. With the growing usage of social media, e-commerce and IoT, at a universal level, all of them require an intensive data storage and computational capacity, hence, drives the dominance of this segment in this market. Due to these demands the data centers around this world need to keep evolving their hardware by the development of more hardware solutions for better performance to enhance productivity in complex computations and model training in the future.
Growing Cloud Computation Services makes Software Segment the Fastest Growing Segment.
The software segment has been seen to be at the highest growth rate and is expected to benefit from virtualization and cloud computing services demand. It is said to be very beneficial for all those sophisticated software applications which assist data centers in enhancing their security measures like encryption, detection of possible intruders, access control, and monitoring. Also, as the importance of green data centers is gaining attraction due to growing concerns related to efficient energy use, the software required for the data center needs to level up with the essential requirements among others.
Presence of Several Data–Intensive Industries Makes North America a Leading Consumer
Due to a high concentration of data-intensive industries such as finance, media, healthcare and many more, North America dominated this market globally. Businesses related to these industries are the early adopters of cloud computing and other advanced technologies demanding major data storage and processing power. At the same time, the demand for high-applications and services like video streaming and online gaming platforms further fuels the growth. As cloud computing and other technological innovations continue to expand, North America is expected to remain the leading consumer of data center services.
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Data center Market Insights:
Drivers
- Demand for data continues to grow[VP1] exponentially
- Increasing cloud adoption
- Expansion of IoT devices
Restraints
- High cost of data center equipment and construction
- Data centers require a large amount of space and power
- Data Protection and Privacy Issues
Prominent Players in Data Center Market
The following are the Top Data Center Companies
- HPE
- Cisco System, Inc.
- Hitachi Ltd
- IBM Corporation
- NTT Communications
- ABB
- Dell Technologies
- Schneider Electric
- Comarch SA
- Huawei Technologies Co., Ltd.
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Key Questions Answered in Data Center Market Report
- What is the projected value of the global data center market by 2031?
- Which segment leads the data center market?
- What are key drivers of the data center market?[VP2]
This report provides the following insights:
- Analysis of key drivers (growing demand for better data security, rising adoption of Blockchain and IoT technologies, increasing use of decentralized systems in different industry verticals), restraints (interoperability issues with legacy systems, complexities in integration with existing infrastructure, concerns regarding scalability of gas cleaning technologies systems), and opportunities (growing demand for data monetization, rising demand for transparent yet trusted transactions), influencing the growth of data center market.
- Market Penetration: All-inclusive analysis of product portfolio of different market players and status of new product launches.
- Product Development/Innovation: Elaborate assessment of R&D activities, new product development, and upcoming trends of the data center market.
- Market Development: Detailed analysis of potential regions where the market has potential to grow.
- Market Diversification: Comprehensive assessment of new product launches, recent developments, and emerging regional markets.
- Competitive Landscape: Detailed analysis of growth strategies, revenue analysis, and product innovation by new and established market players.
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Software Defined Data Center Market
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SkyQuest is an IP focused Research and Investment Bank and Accelerator of Technology and assets. We provide access to technologies, markets and finance across sectors viz. Life Sciences, CleanTech, AgriTech, NanoTech and Information & Communication Technology.
We work closely with innovators, inventors, innovation seekers, entrepreneurs, companies and investors alike in leveraging external sources of R&D. Moreover, we help them in optimizing the economic potential of their intellectual assets. Our experiences with innovation management and commercialization have expanded our reach across North America, Europe, ASEAN and Asia Pacific.
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[VP1]add 3 pointers for each
[VP2]Add different questions
