The global data center market is driven by the rise in investment in data center applications and the increase in the incorporation of high-end cloud computing among organizations.
Wilmington, DE, Nov. 03, 2023 (GLOBE NEWSWIRE) — Allied Market Research published a report, titled, “Data Center Market by Component (Solution and Services), Type (Colocation, Hyperscale, Edge, and Others), Enterprise Size (Large Enterprises and Small & Medium Enterprises (SMEs)), and End User (BFSI, IT & Telecom, Government, Energy & Utilities, and Others): Global Opportunity Analysis and Industry Forecast, 2021–2030.” As per the report, the global data center industry is predicted to garner $517.17 billion by 2030. The market generated a revenue of $187.35 billion in 2020 and is projected to grow at a noteworthy CAGR of 10.5% from 2021 to 2030.
Prime determinants of the market:
The global data center market is expected to witness significant growth owing to the increasing penetration of high-end cloud computing among enterprises and the rising investments in data center applications across the globe. In addition, the increasing implementation of the Internet of Things and hybrid & multi-cloud architecture solutions is expected to create expansive opportunities in the industry. However, the rising concerns related to data privacy coupled with the increasing demand for managed services may hamper the market’s growth.
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Report Coverage & Details:
|Market Size in 2020||$187.35 Billion|
|Market Size in 2030||$517.17 Billion|
|No. of Pages in Report||280|
|Segments Covered||By Component, Type, Enterprise Size and End User|
|Drivers||Rise in penetration of high-end cloud computing in enterprises, globally in developing economies drives the growth of the data center market during the forecast period.|
|Opportunities||Increase in penetration of Internet of Things and hybrid & multi cloud architecture solutions is expected to provide lucrative opportunity for the growth of the data center market during the forecast period.|
|Restraints||Rise in concerns related to data privacy paired with growing demand for managed services is expected to restrain the market growth.|
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The solution segment to hold the largest market share by 2030
By component, the solution segment held the highest market share in terms of revenue in 2020, contributing to more than three-fourths of the global data center market. This is mainly due to the increasing adoption of more powerful and efficient data center solutions across many organizations to reduce the cost associated with the operations of data centers and optimize profit. On the contrary, the services segment is expected to exhibit the highest CAGR of 12.4% during the analysis timeframe, due to the increasing expenditure in data center technology.
The hyperscale segment to hold the lion’s share
By solution, the hyperscale segment generated the biggest market share in terms of revenue, providing more than two-fifths of the global data center market. This is mainly due to the increase in demand for energy-efficient and cost-effective data interruption solutions among various large and small & medium-scale organizations.
North America held the maximum market share in 2020
The North America region held the highest market share in terms of revenue in 2020, garnering about two-fifths of the global data center market. This is because of the existence of a large number of data centers across the region. However, the Asia-Pacific region is expected to showcase the greatest CAGR of 14.7% over the estimated period from 2021 to 2030, owing to the increasing magnitudes of data center traffic in countries, including Australia, India, and China.
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Leading market players:
- NTT Communication Corporation
- Amazon.com Inc.
- Alphabet Inc.
- SAP SE
- Digital Realty
- IBM Corporation
- Equinix Inc.
- Hewlett Packard Enterprise
Key Industry Development –
October 2023: NTT Global Data Centers Corporation (a subsidiary of NTT Ltd.) launched its new data center in NTT Cyberjaya campus. This facility, with an investment of over RM 234 million (USD 50 million), aligns with Malaysia’s digital growth vision, aiming for Malaysia to be an ‘Asian Digital Tiger’ by 2025.
July 2023: Digital Realty, the largest global provider of cloud and carrier-neutral data center, colocation, and interconnection solutions, launched its newest data center “KIX13” in Osaka, Japan. KIX13 has ability to provide a dedicated, robust, and resilient environment optimized for intensive computing systems deployments at scale.
March 2023: The European cloud leader, OVHcloud expanded its technology in Asia-Pacific region with the launch of first data center in Mumbai, India. This global expansion will provide OVHcloud customers with open, trusted, sovereign and sustainable cloud solutions that will enable them to meet growing digital needs.
September 2022: Honeywell, a global leader in connected buildings, launched its Data Center Suite, a portfolio of outcome-based software solutions that help data center managers and owners optimize uptime, worker productivity, critical asset health and operational expenses while providing better visibility into sustainability KPIs.
September 2022: Schneider Electric, a leader in digital transformation in the field of energy management and automation, introduced a new comprehensive solution, Easy Modular “all-in-one” data centers in the market. This solution offers businesses better predictability, enhanced speed of deployment, reduced cost, simple installation and sustainable development.
October 2021: Alibaba Cloud, the digital technology and intelligence backbone of Alibaba Group, launched the two new data centers in South Korea and Thailand to assist local enterprises in their digital innovation journey.
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