Data Center Market to reach a valuation of 209.8 Bn by 2031

The global data center market is expected to reach a valuation of 209.8 Bn by 2031. Growing interest towards technologies such as private cloud, edge, and colocation has been fuelling the demand for data centers and their solutions. Present-day data centers represent state-of-the-art cooling systems and high density servers. They offer myriad services that are made accessible to even the smallest of start-ups. The exponential rise in data consumption and data generation by organizations across various industries has been fuelling the demand for reliable and highly available data centers.

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In its new study, ESOMAR-certified market research and consulting firm Future Market Insights (FMI) offers insights about key factors driving demand for data centers. The report tracks the global sales of data centers in 20+ high-growth markets, along with analyzing the impact of COVID-19 on the global adoption of data centers, along with the pre-COVID and post-COVID market growth analysis.

Technology is rapidly changing the economic landscape and creating several new opportunities for organizations to consider how they can expand their IT solutions to capitalize on emerging markets. Growing penetration of digital services across several industry verticals has resulted in the increased demand for data centers for storage, computing, and network management. This, in turn, will drive the demand for data centers.

Data Center Market Gaining from Digital Transformation Amid Pandemic

The health concerns are increasing around the world and causing significant business impact due to the on-going COVID-19 pandemic —particularly when it comes to delivering data. IT operations associated with data centres got drastically disrupted during this pandemic. Physically moving servers, closing buildings and opening a new space, is massively more complicated in the Covid-19 world.

“The demand for hyperscale data centers has shot up in the last two years, as more businesses are shifting their IT infrastructure to cloud, this demand has created high growth opportunities for data center technology providers” says FMI Analyst.

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Key Takeaways: Data Center Market

Data center market is forecast to exhibit 5.3% Y-o-Y growth in 2021
The U.S. is one of the early adopters of latest technology and is expected to remain a highly lucrative market for data centers. It is expected to hold nearly 81.6% of the North America market in 2021
U.K. will exhibit high demand for data center. The U.K. market is expected to register 8.4% Y-o-Y growth in 2021
Germany and France will exhibit high demand. Of these, Germany is expected to account for lion’s share in Europe market
While Japan and South Korea will remain lucrative pockets, China is projected to continue leading the data center market in East Asia

Competition Landscape

The data center market is highly concentrated because the majority share is held by leading data center providers. The companies that hold market share of 10% to 12% are tier-1 companies and this group includes players like Cisco Systems, HPE, and Dell Technologies. According to FMI, market players rely on multiple expansion strategies to deepen penetration across lucrative markets. These strategies include product launches, collaborations with key players, partnerships, acquisitions and strengthening of regional and global distribution networks.

FMI has profiled the following prominent data center providers in its report:

IBM Corporation
Cisco System, Inc.
HPE
Dell Technologies
Hitachi Ltd
NTT Communications
Schneider Electric
Comarch SA
ABB
Huawei Technologies Co., Ltd.
Improvement in Service Delivery and Risk Management to Mitigate Concerns

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Organizations across the world are changing their service delivery models to succeed in today’s fast-paced business landscape, which is aligned to meet the needs of both the internal and external business environment. Present-day organizations provide a more dynamic and flexible infrastructure, which provides a better chance to discover and acknowledge new business opportunities.

Organizations of all sizes are seeking global expansion with the help of emerging technologies and large consumer bases, thereby increasing the need for improved security and resiliency measures. Organizations are equipped with a high number of networking products and services in order to improve the service delivery and risk management.

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About FMI
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, the global financial capital, and has delivery centers in the U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth.

This release was published on openPR.