Dublin, Aug. 13, 2024 (GLOBE NEWSWIRE) -- The "Global Data Center Outsourcing Market - Forecasts from 2024 to 2029" report has been added to ResearchAndMarkets.com's offering.
The data center outsourcing market is evaluated at US$195.537 billion for the year 2022 growing at a CAGR of 5.06% reaching the market size of US$276.282 billion by the year 2029
It is expanding steadily as businesses increasingly contract with suppliers who have superior resources and technical know-how to handle their IT infrastructure, including cloud computing services. The emergence of big data, artificial intelligence, and cloud services has made this easier. One of the main factors propelling the global market for data center outsourcing and hybrid infrastructure managed services is the increasing need for better IT infrastructure scalability, efficiency, and cost-effectiveness.
Managed services for hybrid infrastructure and data center outsourcing are becoming more and more appealing choices for businesses trying to cut expenses. Furthermore, the need for managed hybrid infrastructure services and data center outsourcing is being driven by the growing demand for cloud-based services. 
Increasing demand for shared infrastructure
The demand for virtual storage services increased due to the growth of multiple industries and the rise in shared infrastructure services. Other factors driving the data center outsourcing market include higher spending levels on business technology and IT services and a rise in market research and development initiatives. Additionally, during the projection period, the data center outsourcing market will have new opportunities due to advancements in technology, modernization of manufacturing practices, and rising demand from emerging economies.
Growing need for affordable IT solutions
Businesses are searching more and more for solutions that are both affordable and valuable in the long run. Managed services for hybrid infrastructure and data center outsourcing offer an affordable means of utilizing the newest IT solutions while minimizing operating expenses. With the help of these solutions, businesses can contract out the management of their IT infrastructure to a third-party supplier, who can offer a variety of services like networking, hosting, and storage. They can also offer improved data security, scalability, and dependability
The demand for cloud-based services is rising.
An increasingly significant component of contemporary IT infrastructure is cloud computing. Businesses are using cloud computing solutions more frequently in an effort to cut expenses while enhancing scalability, security, and performance. Cloud-based solutions provide an affordable means of storing information, programs, and services, and enabling access to these resources from any location and on any device. Because data is stored in multiple locations, making it more difficult for hackers to access, cloud-based solutions are also more secure which is also leading to market growth.
North America is expected to grow at a high rate during the forecast period.
Owing to the region's strong digital economy, outsourcing providers are able to effectively provide scalable and secure data solutions. Furthermore, a large number of multinational companies are based in North America and are looking for flexible and affordable data center solutions. The confluence of these elements establishes the area as a hub for the expansion of data center outsourcing, drawing in investments from both local and foreign sources. For example, Rimini Street unveiled Rimini ONE, a complete outsourcing solution that includes IT operations, support, and maintenance, in March 2023. By giving businesses a centralized, efficient source for essential IT services, it lowers the expenses and complexity involved in running data centers. Additionally, by outsourcing, it allows companies to concentrate on their core competencies while guaranteeing the dependability and effectiveness of their data center infrastructure.
Market key launches
In August 2023,Fujitsu has been identified by Gartner as a Visionary in their most recent Data Center Outsourcing and Hybrid Infrastructure Managed Services Magic QuadrantTM. Being listed in the Gartner Magic Quadrant as a Visionary, according to Fujitsu, highlights its advantages, progressive business practices, and steady expansion. Fujitsu has been able to redefine industry standards and offer its clients transformative solutions that produce measurable business outcomes thanks to its approach to hybrid IT.
In July 2023,NTT DATA, a global leader in digital business and IT services, today announced the launch of an outsourcing service for security management (MDR service1) to help prevent incidents and minimize damage when they do occur. Beginning in July 2023, the service will be offered in Japan before being made available globally by the end of the fiscal year, which is March 2024. Advanced security engineers with over 20 years of experience in incident response as members of the company's CSIRT2 organization, along with the knowledge gained from NTT DATA's global Zero Trust Security Service, will support client companies with the MDR service.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 141 |
| Forecast Period | 2022 - 2029 |
| Estimated Market Value (USD) in 2022 | $195.54 Billion |
| Forecasted Market Value (USD) by 2029 | $276.28 Billion |
| Compound Annual Growth Rate | 5.0% |
| Regions Covered | Global |
Companies Featured
- IBM
- NTT DATA, Inc.
- Blackstone (QTS Realty Trust, Inc.)
- KKR (Ensono)
- Accenture
- Cognizant
- Atos SE
- Tata Consultancy Services (TCS)
- Capgemini
- Infosys Limited
- HCL Technologies Limited
- Wipro Limited
Segmentation:
By Enterprise Size
- Small
- Medium
- Large
By Data Centre Location
- Customer Premises
- Vendor Premises
By Industry Vertical
- Banking and Financial Services
- Manufacturing
- Communication and Technology
- Healthcare
- Government
- Others
By Geography
- North America
- USA
- Canada
- Mexico
- South America
- Brazil
- Argentina
- Others
- Europe
- UK
- Germany
- France
- Italy
- Others
- Middle East and Africa
- Saudi Arabia
- Israel
- Others
- Asia Pacific
- China
- Japan
- India
- South Korea
- Indonesia
- Thailand
- Taiwan
- Others
For more information about this report visit https://www.researchandmarkets.com/r/omf7xx
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