Dublin, June 04, 2024 (GLOBE NEWSWIRE) -- The "Cloud Data Center Global Market Report 2024" report has been added to ResearchAndMarkets.com's offering.
The global cloud data center market has grown rapidly in recent years. It will grow from $23.8 billion in 2023 to $27.22 billion in 2024 at a compound annual growth rate (CAGR) of 14.4%. The growth observed in the historic period can be attributed to several factors, including increased scalability, enhanced cost efficiency, improved agility and flexibility, strengthened security posture, and the implementation of green initiatives.
The cloud data center market is expected to see rapid growth in the next few years. It will grow to $46.04 billion in 2028 at a compound annual growth rate (CAGR) of 14%. The anticipated growth in the forecast period can be attributed to various factors, including edge-to-cloud orchestration, the escalating threat landscape of cybersecurity, ongoing developments in quantum computing, the proliferation of containerization, tightening data privacy regulations, the increasing demand for AI (artificial intelligence) and machine learning workloads, and the deployment of 5G technology. Key trends expected during this period include a focus on data sovereignty and compliance, the continued adoption of containerization, the implementation of hybrid and multi-cloud strategies, the optimization of infrastructure for AI, and the adoption of serverless computing architectures.
The surge in demand for cloud services is anticipated to drive the expansion of the cloud data center market. For instance, as per a report by the European Commission (EC) in December 2023, 42.5% of enterprises in the European Union (EU) availed cloud computing services. This represented a 4.2% upsurge compared to 2021, primarily for email, file storage, and office software, indicating a growing reliance on cloud services. Consequently, the burgeoning demand for cloud services is fueling the growth of the cloud data center market.
Leading companies in the cloud data center sector are concentrating on introducing novel data center facilities such as cyber cloud data centers to bolster their revenues in the market. For instance, in March 2023, Acronis International GmbH, a Switzerland-based software company, inaugurated a new cyber cloud data center in Toronto, Canada. This facility is one among over fifty cyber cloud data centers in Acronis' global network. The Toronto data center offers Acronis partners access to a wide array of cyber protection solutions, enabling them to develop new services and offerings that can efficiently manage their clients' data protection needs with faster access, continuous data availability, and the added advantage of data sovereignty.
In January 2023, DIF Capital Partners, a Netherlands-based private equity company, successfully acquired Tonaquint Data Centers LLC for an undisclosed amount. This strategic acquisition is anticipated to facilitate DIF Capital Partners' expansion in the digital infrastructure space in North America. Tonaquint Data Centers LLC, based in the US, is a cloud data center company that offers services including cloud hosting, colocation, disaster recovery, and backup services. The acquisition aligns with DIF Capital Partners' strategic goals and strengthens its position in the growing digital infrastructure sector.
North America was the largest region in the cloud data center market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the cloud data center market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the cloud data center market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Research Scope
Markets Covered:
1) By Service Model: Infrastructure as a Service Model (IaaS); Platform as a Service-Model (PaaS); Software as a Service-Model (SaaS)
2) By Deployment Model: Public; Private; Hybrid
3) By Organization Size: Small and Medium Enterprises (SMEs); Large Enterprises
4) By End-users: Banking, Financial Services and Insurance (BFSI); Colocation; Energy; Government; Healthcare; Manufacturing; Information Technology (IT) and Telecommunication; Other End-users
Key Companies Mentioned: Alphabet Inc.; Microsoft Corporation; Verizon Corporation; Reliance Group; Amazon Web Services Inc.
Time Series: Five years historic and ten years forecast
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments
Key Attributes
| Report Attribute | Details |
| No. of Pages | 175 |
| Forecast Period | 2024-2028 |
| Estimated Market Value (USD) in 2024 | $27.22 Billion |
| Forecasted Market Value (USD) by 2028 | $46.04 Billion |
| Compound Annual Growth Rate | 14% |
| Regions Covered | Global |
A selection of companies mentioned in this report includes, but is not limited to:
- Alphabet Inc.
- Microsoft Corporation
- Verizon Corporation
- Reliance Group
- Amazon Web Services Inc.
- International Business Machines Corporation (IBM)
- Oracle Corporation
- KDDI Telehouse
- Fujitsu Limited
- Eaton Corporation plc
- Tencent Cloud
- Lumen Technologies
- HCL Technologies Limited
- Alibaba Cloud
- Schneider Electric SE
- Google Cloud
- Equinix Inc.
- General Electric Company
- China Unicom
- Capgemini SE
- China Telecom Americas Inc.
- Cyxtera Technologies Inc.
- QTS Realty Trust Inc.
- Flexential Corp.
- AT&T Inc.
For more information about this report visit https://www.researchandmarkets.com/r/gcapdp
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