Data Center Market to Observe Fastest Growth in APAC

The data center market was USD 263.34 billion in 2022, and it will touch USD 602.76 billion, propelling at a 10.9% compound annual growth rate, by 2030.

The growth of the industry is attributed to the increasing need for data centers because of the rapid rate of digitization, surging acceptance of OTT and IoT services, and rising culture of remote working.

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The IT infrastructure category, based on infrastructure type, accounted for the largest share of the industry, and it will further advance at a compound annual growth rate of approximately 11.4% in the years to come. This is because organizations are shifting to enhanced data centers from their existing resources, to allow enhanced data management.

The IT and telecom sectors, based on industry, led the data center market. With the arrival of advanced technologies, for instance, cloud, AI, and IoT, data generation is expanding. This data originates from personnel records, mobile internet usage, network equipment, billing activities, social networks, and server logs.

Moreover, to store this large quantity of data, IT and telecom businesses are renting areas at the facilities of third parties. With these solutions, IT and telecom businesses can securely manage or store large quantities of data and scale down or up the capacity of storage as needed.

The North American data center industry accounted for the largest share, and it will remain the largest, generating USD 191.80 billion, in the years to come. This can be attributed to the existence of highly advanced, efficient, and extensive technological infrastructure in the region.

Moreover, the U.S. led the North American industry, and it will advance at an 8.4% compound annual growth rate in the year to come. This is because of the presence of numerous data centers in the nation. For instance, there are more than 2,600 such centers in the U.S., most of them existing in northern California, where various IT companies, for instance, Google, Facebook, Uber, Twitter, and Yelp are headquartered.

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The APAC data center industry is likely to witness the fastest growth in the years to come. This is mainly because of the increasing need for data centers because of the increasing use of cloud services as well as the surging rate of digitization in the continent.

Furthermore, the increasing AI and IoT funding, surging smartphone and broadband penetration, and advancements in digital technologies are leading to the mounting generation of data in the continent.

With the increasing requirement for mobile, social, cloud, and analytics services, along with the mounting amount of data across the globe, the data center industry will continue to advance in the years to come.

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