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Data Center Services Market to See Huge Growth by key players IBM Corporation, Hewlett Packard Enterprise Limited, Fujitsu Ltd., Huawei Technologies Co Ltd., Cisco Systems Inc.
Data Center Services Market Size
The Business Research Company's Data Center Services Global Market Report 2023 identifies The growing adoption of digitalization as the major driver for the data center services market's growth in the forecast period. The adoption of digitalization is increasing due to the need for increased productivity, lowering operational costs, enabling faster decision-making, increasing efficiency, technological advancements, push towards digitalization from stakeholders, and others. The increasing adoption of digitalization will generate a huge amount of data that needs to be stored, driving the need for data centers. This need for data centers will create a huge demand for data center services to set up, manage, and operate data centers.
The global data center services market size grew from $59.53 billion in 2022 to $67.51 billion in 2023 at a compound annual growth rate (CAGR) of 13.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The data center services market size is expected to grow to $116.43 billion in 2027 at a CAGR of 14.6%.
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Major competitors in the data center services market are IBM Corporation, Hewlett Packard Enterprise Limited, Fujitsu Ltd., Huawei Technologies Co Ltd., Cisco Systems Inc., Dell Inc., Vertiv Co, Equinix Inc., Schneider Electric SE, Hitachi Ltd., Sify Technologies Ltd., NTT Communications, ABB Ltd., Dataspan, Eaton Corporation, Siemens AG, HCL Technologies Ltd., Workspace Technology Limited, Megahertz Infotech, Reliance Group, Capgemini SE, PTS Data Center Solutions Inc., Atlantix Global Systems, Nokia Corporation, Larsen & Toubro Infotech and Arrow Electronics.
A key trend in the data center services market includes Technological advancement. The market is witnessing the implementation of next-generation technologies into data center services such as automation, block-chain technologies, the internet of things, 5G mobile broadband, cloud computing, artificial intelligence, data analytics, and others. These advancements offer advanced features, automation, efficiency, reliability, and reduced cost for data center service providers. Major companies operating in the data center services market are focused on providing technologically advanced data center services to strengthen their market position. For instance, ABB, a Sweden-based automation company offers ABB Ability Data Center Automation systems for energy saving and sustainability. These are industrial automation systems for use in data centers. These run continuously and reliably, optimizing operational processes and lowering the risk of downtime, and eliminating waste caused by unnecessary or premature maintenance.
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The data center services market is segmented -
• By Services: Installation And Integration Services, Training Services, Consulting Services, Maintenance And Support, Other Services
• By Type: Small Data Centers, Medium Data Centers, Large Data Centers
• By Type Of Service: Infrastructure, Cloud And Hosting, Networks, Virtualization, Other Types Of Services
• By Application: BFSI, Colocation, Energy, Government, Healthcare, IT And Telecom, Manufacturing, Other Applications
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the data center services market.
The Business Research Company's "Global Data Center Services Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Data Center Services Market Include:
1. Executive Summary
2. Table Of Contents
3. List Of Figures
4. List Of Tables
5. Report Structure
……
19. Company Profiles
20. Key Mergers and Acquisitions
21. Opportunities And Strategies
22. Data Center Services Market, Conclusions And Recommendations
23. Appendix
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