NEWARK, Del., Sept. 22, 2022 (GLOBE NEWSWIRE) — The global data center market was expected to register an impressive growth rate of 7.5% during the forecast period of 2022 to 2032. The market was valued at $101.79 billion in 2022 and is projected to reach a market value of $209.8 billion by 2032.
After the historical period of 2017 to 2021, the global data center market recorded a healthy CAGR of 5.5%. Due to the increasing acceptance of small and medium-sized data centers, growth has been fueled in several sectors. The growth of the data center market is attributed to the exponential increase in data consumption and data generation by various organizations across the world.
Countries around the world reported massive data demand during the pandemic, which increased the importance of digital technologies and data centers. Due to these factors, data center demand is expected to grow at a CAGR of 7.5% during the 2022-2032 assessment period.
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The central theses
- Amid the Covid-19 pandemic, the growth of the data center market accelerated at a robust pace as the pandemic disrupted businesses due to the increase in telecommuting calls and the need for rapid mobilization of cloud computing to cope with a rising demand for data.
- Data center colocation provides a powerful environment for IT infrastructure. Customers can efficiently focus on their core business by consolidating their data servers instead of tiring of managing a data center. In addition, data center colocation also offers the benefits of a 100% uptime SLA.
- Data center colocation providers provide building (space), cooling, power supplies, bandwidth and physical security for customers to install their own servers and storage. In addition, colocation also offers dedicated, private connectivity options to hundreds of networks and IT service providers to streamline the architecture. Organizations are able to scale their environment to their unique needs by selecting a common, multi-tenant data center
- The Internet has had a massive impact on both individual consumers and large economies. It has become an increasingly important part of our everyday lives. Emerging markets such as India and China are showing high demand for social media, television, video streaming, e-commerce and net banking, all of which require robust IT infrastructure and data networks.
- In recent years, advances in technology have accelerated the pace of data processing and enabled vast amounts of data storage. The advent of 5G IoT technology has fundamentally transformed data center design and deployment over the past two decades. It is estimated that by 2022 the IoT will have 35 billion installed units.
- The use of IoT generates large amounts of data that have to be processed and analyzed in real time. As more data is generated, there will be a corresponding increase in demand for storage space.
Key players in the data center market are focusing on multiple expansion strategies to deepen their penetration in all lucrative markets. These strategies include product launches, collaborations with key players, partnerships, acquisitions and strengthening regional and global distribution networks.
IBM Corporation, Cisco System, Inc., HPE, Dell Technologies, Hitachi Ltd, NTT Communications, Schneider Electric, Comarch SA, ABB, Huawei Technologies Co., Ltd.
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The US reported annual growth of over 2.7% through 2020 to reach a US$32.15 billion valuation. The US is known to be the dominant market due to increasing data shipping due to the rising popularity of moving localized data center activities to colocation or cloud facilities. In addition, the market is likely to see a rise in edge data center computing to provide low-latency, high-efficiency services across the country.
The UK is considered a lucrative market for colocation services as it boasts 250 operational colocation data centers. Increasing demand for data center services from business and consumer end users is driving investment in the UK data center market. It is estimated that the UK data center market will reach a valuation of 7,379.0m by the end of 2032 by registering a CAGR of 10%.
Key segments in profile That Industry survey on the data center market
Data center by component:
- Data center by hardware
- Data center software
- data center service
Data center by size:
- Small data center
- Medium sized data center
- Big data center
Data Center Market by Industry:
- Data center for IT & telecommunications
- Data center for BFSI
- Data center for manufacturing
- Healthcare data center
- Data Center for Media & Entertainment
- data center for others
Data center by region:
- North America
- Latin America
- East Asia
- South Asia & Pacific
- Middle East & Africa
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Table of Contents
1.1. Global Market Outlook
1.2. Trends on the demand side
1.3. Trends on the supply side
1.4. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Restrictions
3. Major Market Trends
3.1. Key trends affecting the market
3.2. Product innovation / development trends
3.3. Analysis of important use cases and product potential
3.4. key factors for success
Table of contents next …!
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