Data Center Market to Register Stellar Compound Annual Growth Rate Through 2030

Market Scenario

The influence of the coronavirus pandemic on data centre market across China, the UK, and the US is mentioned in detail in the report. As per MRFR, the world data center market is likely to rise at about 12.29% CAGR across the forecast period 2022-2030.

The growing utility of virtual data centers refers across enterprises to store voluminous mission-critical data can bolster the expansion of the data center market. The data centers assist in the processing, storage, and retrieval of data. Data centers are run by multiple backs up supply units, cooling systems to run the enterprise’s main applications, and for networking connections. 

Data centers also include elements, such as power distribution units, electrical switches, ventilation, provisions for network connectivity, and uninterruptible power supplies. These can support the expansion of the data center market. In modern data centers, the utility of management and monitoring software allowing IT administrators to maintain equipment and also monitor facilities remotely can prompt the expansion of the market. The increased need for cloud technology and data storage management are other major factors that can drive the expansion of the global data center industry. 

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Market Segments

The segment study of the world data center market is based on type, vertical, and density. The type-based segment of the data center market are web hosting data centers and corporate data centers. The corporate data centers segment can rise at an exponential pace and bring in considerable revenue for the data center market in the near future. The density-based segment of the market is extreme, medium, low, and high. The extreme, followed by high segment, are likely to gain considerable revenue for the data center market across the assessment period. The vertical based segments of the market are telecom and IT, government, banking & financial services, and healthcare and others. The expansion of the IT sector at a rapid pace can boost the expansion of the market in the years to come. 

Detailed Regional Study 

In North America, the growing utility of multi-cloud services for specific application services can prompt the expansion of the data center market. The growing awareness about the customization advantage of multi-cloud services is improving their adoption in numerous enterprisers that is observed to improve the performance threshold of the company. This is expected to prompt the expansion of the data center market in North America. 

In Europe, the rise in the adoption of multi-cloud architecture to prevent loss of data or downtime in case of localized component failure can boost the expansion of the data center market in the region. Security compliances and effective workload requirements compensations can impel the expansion of Europe market in the years to come. 

In Asia Pacific, the expansion of telecom sector and the presence of reputed data centers are likely to fuel the data center market. The rise of the data center market in the APAC region can be attributed to the adoption of data center services to meet different business requirements.

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Key Players

MRFR profiled well-established players in the world data center industry. They are; IBM Corporation (U.S), Digital Realty Trust, Inc. (U.S), Cisco System, Inc. (U.S), Hitachi Ltd (Japan), EMC Corporation(U.S), Hewlett-Packard Inc. (U.S), Global Switch (U.K), CyrusOne (U.S), Telehouse (U.K), and DuPont Fabros Technology(U.S) among others. Key role of reputed players in the market are discussed in the report. The impact of these marketer on the data center market is studied extensively, including the effect of COVID and aftermath is explained vividly.

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