Dublin, July 06, 2023 (GLOBE NEWSWIRE) -- The "Data Processing and Hosting Services Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023-2028)" report has been added to ResearchAndMarkets.com's offering.
The Data Processing and Hosting Services Market is expected to register a CAGR of over 4.2% to 2028
The data processing and hosting services market is primarily driven by an increase in the requirement for new servers to keep the data up-to-date and the growing demand for hosting and data processing services from small and medium businesses, owing to the increasing digital transformation.
The rapid digital transformation of various end-user industries worldwide, as consumers increasingly engage in online video games, online shopping, communication via online-based messenger services, and online content streaming, is expected to increase the demand for data processing and hosting services. This demand is necessary to analyze the increasingly complex and growing volume of collected data for valuable business insights.
Businesses across emerging markets have increasingly outsourced their IT infrastructure needs, benefiting hosting operators and further driving market demand. Additionally, the growing demand for online presence, particularly from companies in the retail sector, has created favorable conditions for hosting services.
Furthermore, the significance of data value within organizations lies in its ability to enhance operational excellence and provide quick access to information. However, employing additional staff to handle data processing can be expensive for both small and large organizations. As a result, organizations are rapidly outsourcing data processing services to obtain efficient business insights and outcomes. This trend further drives the growth of the studied market.
The deployment of significant data analytics has also elevated the importance of successful data preparation from multiple sources, utilizing various data analysis techniques to ensure substantial return on investment through data cleaning, combining, and transforming unstructured data. While Artificial Intelligence (AI) has familiarized big data, applications such as the Internet of Things (IoT) are taking it to the next level. The need to analyze large datasets to derive insights and increase internet traffic is driving the demand for data processing and hosting services.
The COVID-19 pandemic has accelerated the adoption of cloud services across all industries as they quickly pivoted to support remote work and collaboration. According to Verizon, video game usage during peak hours had surged by approximately 75% within a week after the quarantine was imposed. These increased demands for entertainment options have placed a strain on ISPs globally, highlighting the need for the market under study.
Data Processing & Hosting Services Market Trends
Web Hosting is Gaining Traction Due to Emergence of Cloud-based Platform
Web hosting services are gaining traction to cater to the rising demand from the client requirement that is suitable as per the selected web hosting service. In addition, the growing cloud services adoption in organizations is also creating opportunities for the web hosting segment over the forecast period.
The cloud emergence is monumental in modernizing data management and hosting services. It is a cost-effective method for companies to take advantage of modern technology and architecture without the enormous upfront cost of purchasing, installing, and configuring the required hardware, software, and infrastructure.
Also, the large enterprises were able to adapt to an evolving data-driven marketplace very quickly, with the help of their existing resources and capabilities to manage them very effectively. Further, SMBs worldwide also witness a growing demand for cloud-based hosting services, which is expected to drive the web hosting segment over the forecast period.
Asia Pacific to Register as the Largest Growth During the Forecast Period
The Asia-Pacific region is expected to witness significant growth over the forecast period, owing to the region's high percentage of the World Internet Population and rapid shift towards cloud services by large organizations and SMEs. Besides international market vendors like IBM and Amazon setting up in the region, some homegrown giants like Huawei Investment & Holding Company are transforming the IT landscape.
Further, the growing digitalization in every industry across countries like China, Japan, and India will significantly drive the demand for data processing and hosting services. Due to constantly evolving technology and the relatively low additional cost of most new services, many end-user industries frequently upgrade their existing services and offer new ones to attract or retain customers.
Data Processing & Hosting Services Market Competitor Analysis
The Data Processing and Hosting Services Market is moderately competitive and consists of major players such as GoDaddy Operating Company LLC., Bluehost (Endurance International Group), HostGator.com LLC, Hostinger International, Ltd., and Amazon Web Services Inc.
Some of the players currently dominate the market in terms of market share. However, with the advancement in hosting solutions across professional services, new players are increasing their market presence, thereby expanding their business footprint across emerging economies.
Market Dynamics
Market Drivers
- Growing Adoption of Cloud Computing to Accomplish Economies of Scale
- Rising Demand for Outsourcing Data Processing Services
Market Restraints
- Lack of Flexibility and Scalability in terms of Hosting Infrastructure
Competitive Landscape
- GoDaddy Operating Company LLC.
- Bluehost (Endurance International Group)
- HostGator.com LLC
- Hostinger International, Ltd.
- Amazon Web Services Inc.
- SiteGround Hosting Ltd.
- A2Hosting
- DreamHost LLC.
- GreenGeeks.com
- IBM Corporation
- Teradata Corporation
- Hewlett Packard Enterprise Development LP
- SAP SE
- Oracle Corporation
- Alteryx Inc.
- Cloudera Inc.
- Salesforce.com Inc.
Scope of the Report
By Organisation
- Large Enterprise
- Small & Medium Enterprise (SME)
By Offering
- Data Processing Services
- Data Entry Services
- Data Mining Services
- Data Cleansing and Formatting
- Data Scanning and Indexing
By Hosting Services
- Web Hosting
- Cloud Hosting
- Shared (Reseller) Hosting
- Virtual Private Server (VPS) Hosting
- WordPress Hosting
- Application Hosting
By End-user Industry
- IT & Telecommunication
- BFSI
- Retail
- Other End-user Industries
By Geography
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East and Africa
For more information about this report visit https://www.researchandmarkets.com/r/n6wp8y
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Attachments
- Data Processing And Hosting Services Market Cloud Hosting Services By Organizations In Worldwide 2021
- Data Processing And Hosting Services Market Data Processing And Hosting Services Market Growth Rate By Region
