Data Center Market Overview
The global data center market is expected to grow significantly over the forecast period of 2022-2030, at a CAGR of 7.1%. This growth is attributed to the increasing demand for data center services across a range of industries, such as IT & telecom, BFSI, healthcare, manufacturing, and media & entertainment. Data centers are used to store and process data, and they are also used for cloud computing services. Data centers are becoming increasingly important for businesses to enable storage and application hosting.
Data centers are available as both public and private, depending on the type of services needed. Public data centers are owned and operated by a third-party provider, while private data centers are owned and operated by an organization for its use. In addition, data centers are also divided into three major categories, namely, Tier I, Tier II, and Tier III, based on their infrastructure and redundancy.
Market Opportunities
Increased demand for cloud computing services is one of the major drivers of the global data center market. Cloud computing enables organizations to outsource their data storage and computing requirements to third-party providers, thereby reducing their capital and operational expenditure.
In addition, the increasing adoption of advanced technologies such as artificial intelligence (AI), the Internet of Things (IoT), and big data analytics is also driving the growth of the global data center market. AI and IoT are increasingly used to enable enterprises to collect data from customers and automate their processes. This data is then stored in data centers and analyzed using big data analytics.
Market Segmentation
The global data center market can be segmented based on type, tier, and end-user. By type, the market can be segmented into public and private. By tier, the market can be segmented into Tier I, Tier II, and Tier III. By end-user, the market can be segmented into IT & telecom, BFSI, healthcare, manufacturing, media & entertainment, and others.
Industry Latest News
Recent developments in the global data center industry include the expansion of hyperscale data centers, the increasing adoption of edge computing, and the rising demand for green data centers.
Hyperscale data centers are being increasingly adopted by enterprises to provide cloud-based services. Hyperscale data centers are designed to manage petabytes of data with high reliability and scalability.
Edge computing is also gaining traction in the global data center market, as it enables data to be processed at the edge of the network, thereby reducing latency. This is especially beneficial for applications that require real-time data processing.
In addition, green data centers are being increasingly adopted by enterprises, as they reduce the energy consumption and carbon emissions of data centers.
Key Companies
Major players in the global data center market share include IBM Corporation, Dell Technologies, Hewlett Packard Enterprise, Microsoft Corporation, Amazon Web Services, Oracle Corporation, Equinix Inc., Google LLC, AT&T Inc., and Fujitsu Ltd.
Regional Insights
North America is expected to be the largest market for data centers, owing to the presence of a large number of data centers, the presence of large IT companies, and the increasing adoption of cloud computing services. In addition, the presence of leading data center providers, such as IBM, Dell Technologies, Microsoft, Amazon Web Services, and Google, is also driving the growth of the North American data center market.
Asia-Pacific is expected to be the fastest-growing region in the global market, due to the increasing demand for cloud computing services, the presence of a large number of data centers, and the increasing adoption of advanced technologies such as AI and IoT.
The growth of the market in Europe is being driven by the increasing demand for cloud computing services and the presence of leading data center providers such as IBM, Dell Technologies, Microsoft, Amazon Web Services, and Google.
Overall, the global data center market is expected to experience significant growth during the forecast period of 2021-2026, due to the increasing demand for data center services across a range of industries, the increasing adoption of cloud computing services, the increasing adoption of advanced technologies such as AI and IoT, and the increasing focus on green data centers.
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