Data Center Infrastructure Management (DCIM) Market - Industry Verticals Riding the Digitalization Wave Benefits Market

The global data center infrastructure management (DCIM) market features moderate consolidation with top 10 companies holding nearly 50% of the overall market, says Transparency Market Research (TMR) in a new report. Emerson Network Power Inc., Panduit Corp., Johnson Controls Inc., FNT GmbH, Eaton Corp. plc, Schneider Electric SE, Nlyte Software Inc., Siemens AG, Commscope Inc., and CA Technologies Inc. are to name prominent companies in the DCIM market. In the years ahead too, these companies are likely to hold prominence as they are striving to acquire smaller enterprises, apart from initiatives of new product development and diversifying product portfolio. Spin off from the parent company to strengthen capabilities in niche business areas is also what companies in this market have resorted to establish a foothold. A case in point is Emerson Network Power – a spinoff of the Emerson Electric Company.

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As per estimates of the TMR report, the global DCIM market is predicted to clock an outstanding 21.5% CAGR between 2017 and 2024, for the market to be worth US$2859.3 mn by the end of 2024. The report evaluates the opportunities in the worldwide DCIM market stood at a valuation of US$730.9 mn in 2017. Based on solution, IT asset management segment witnesses maximum demand in the global DCIM market, significantly more than facility management, and consulting & other services. In terms of industry vertical, the DCIM market currently witnesses maximum demand from information technology and telecom segments; however, the demand from banking, financial services, and insurance (BFSI) is anticipated to pace up in the years ahead.

Industry Verticals Riding the Digitalization Wave Benefits Market

Digitalization has led to the generation of monumental volume of data which is set to drive the demand for mega capacity data centers or server farms in the coming years. Data centers mostly operate 24x7 which amounts to huge energy consumption to power IT equipment and other equipment. Energy consumption, however, depends on data center load which requires corresponding amount of cooling for efficient operations. As per the National Resources Defense Council (NRDC), an environmental action organization, the consumption of electrical energy by data centers in the U.S. is likely to amount to 139 billion kilowatt-hours by 2020.

The massive consumption of electrical energy put data centers under pressure to reduce the same. Data center infrastructure management solutions thus comes into play to serve the need to cut electrical energy consumption.

Furthermore, data centers have come under vigilance of environmental authorities due to massive volume of electrical energy consumption that amount to massive carbon emissions. Several governments have enforced regulations to build green data centers in order to curb carbon emissions and increase energy efficiency in turn. For example, the Environmental Protection Agency in the U.S., provides energy star rating to data centers based on their power usage.

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In Europe, The European Commission Code of Conduct for Data centers aims to reduce carbon footprint of data centers and improve operational efficiency through collaborated efforts of data center providers and government agencies. At present, the program witnesses the participation of 120 data center providers that work with 245 agencies to reduce environmental impact of data centers.

Economic Pitfalls Slows Adoption of Newer DCIM Solutions

However, factors such as high cost involved in transforming existing data centers into energy efficient ones is stalling the adoption of DCIM solutions. Once a data center is set up, data center owners do not heed much to maintain and improve data center efficiency. Long waiting periods before energy efficient technologies can transform into handsome returns is preventing data center owners from remodeling their spaces. This is slowing the growth of DCIM market, adds the lead analyst.

Transparency Market Research (TMR) is a next-generation provider of syndicated research, customized research, and consulting services. TMR’s global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations

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This release was published on openPR.