Press release
Data Center Market is projected to reach USD 432.5 billion in 2029 growing at a CAGR of 5.1% from 2022-2029 | size, Share, Trends & Forecast
Data Center Market
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https://www.gmiresearch.com/report/data-center-market-size-analysis-industry-research/
The factors driving growth of the Data Center Market includes growing influence of social media platforms around the world, transition from traditional on-premises physical servers to virtual network-based data centers, increasing investments by companies to set-up modern data centers around the world and improvements in the living standards. Moreover, growing adoption of advanced technologies such as Artificial Intelligence (AI), Internet of Things (IoT) and Machine Learning (ML), increased deployment of optical fiber-based low-cost interconnects by data centers to meet power and latency needs, rise in the launch of innovative products and rapid urbanization, are some of the additional factors supplementing the Global Data Center Market. In addition, the increasing investments by leading companies on research and development, rising disposable incomes, strategic collaborations between companies, commercialization of 5G technology and growing population growth rates, are further propelling the Data Center Market size.
However, growth of the Data Center Market is hindered attributed to rising concerns related to data privacy.
The leading players operating in the market are Oracle Corporation, SAP SE, Microsoft Corporation, Alphabet Inc., Amazon Inc., Cisco Systems Inc., Equinix Inc., Huawei, IBM Corporation and NTT Data Corp, among others.
Based on Type, the Colocation Data Center segment is predicted to grow at a remarkable CAGR during the forecast period
Colocation data center minimizes IT infrastructure costs, helps in managing daily operations and is cost-effective, are propelling Data Center Market share.
Based on Component Solutions, the Security Solutions segment is projected to dominate the market over the forecast period
Data centers helps in meeting compliances and offers environmental monitoring and biometric access, are pushing growth of the segment.
Based on Region, the North American region, is anticipated to capture the largest market share during the forecast period
Presence of the leading players such as Alphabet Inc., Amazon Inc., and Cisco Systems Inc., increasing number of data centers across United States and Canada, rapid industrialization, rising population growth rates and high per capita incomes, are some of the important factors augmenting the Data Center Market Growth in the North American region.
Key Development
In 2020, Amazon decided to invest around USD 1.6 billion in the Indian data centers. The company planned to open two data centers in Hyderabad.
Market Segmentation
Segmentation by Type
Enterprise Data Center
Managed Services Data Center
Colocation Data Center
Cloud Data Center
Segmentation by Component
Power Management System
IT Infrastructure
Mechanical & General Construction
Security Solutions
Segmentation by End User
Banking & Financial Services
IT & Telecom
Government
Healthcare
Others
Segmentation by Region
Asia Pacific
China
Japan
India
Rest of APAC
North America
United States of America
Canada
Europe
United Kingdom
Germany
France
Spain
Rest of Europe
RoW
Brazil
South Africa
Saudi Arabia
UAE
About GMI Research
GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.
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