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.
The global data center market 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.
Key players in the data center market:
The key players operating in the data center market analysis include Alphabet Inc., Amazon.com Inc., Digital Realty, Equinix Inc., Hewlett Packard Enterprise, IBM Corporation, Microsoft, NTT Communication Corporation, Oracle, and SAP SE.
A data center is a physical facility that is designed to make organization computing possible and provide access to a large amount of data to perform daily operations, applications, and other processes in a cloud computing environment. Further, modern data center design often varies based on vendors providing the services or needs of various enterprises. The modern data center consists of crucial infrastructure.
However, an occupancy detection system in automotive applications is essential for implementing applications that allow a user to maintain efficiency in run applications, online presence, and process data.
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Segmental Review of the data center market:
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.
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. The solution segment was the highest contributor to the market in 2020. Surge in adoption of hybrid and multi cloud computing solution across prime enterprise has led the growth of solution segment during the forecast period.
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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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