Data Center Market Statistics 2023: Prominent factors that could boost markets in future

According to the report published by Allied Market Research, The Data Center Market Statistics 2023: Prominent factors that could boost markets in future. The report provides an extensive analysis of changing market dynamics, major segments, value chain, competitive scenario, and regional landscape. This research offers valuable able guidance to leading players, investors, shareholders, and startups in devising strategies for sustainable growth and gaining a competitive edge in the market.

Rise in penetration of high-end cloud computing in enterprises and increase in investment in data center applications across the globe drive the growth of the global data center market. On the other hand, surge in concerns related to data privacy paired with growing demand for managed services impede the growth to some extent. However, increase in penetration of Internet of Things and hybrid & multi cloud architecture solutions are expected to pave the way for lucrative opportunities in the industry.

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The global data center market was valued at USD 187.35 billion in 2020, and is projected to reach USD 517.17 billion by 2030, registering a CAGR of 10.5% from 2021 to 2030.

The data center market is segmented on the basis of component, type, enterprise size, end user and region. On the basis of component, the market is bifurcated into solution and services. Based on type, the market is fragmented into colocation, hyperscale, edge, and others. By enterprise size, it is divided into large enterprises and small & medium enterprises (SMEs). On the basis of end user, the market is segregated into BFSI, IT & telecom, government, energy & utilities, and others. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

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Based on component, the solution segment dominated with the largest share in 2020, holding more than three-fourths of the global data center market. This is because in order to minimize the costs associated with the operations of data centers and to maximize profits, various organizations are now adopting more scalable and efficient power and cooling data center solutions. However, the services segment is expected to cite the fastest CAGR of 12.4% throughout the forecast period, owing to increasing expenditure in data center technology.

Based on solution, the hyperscale segment held the highest market share in terms of revenue, accounting for more than two-fifths of the global data center market. This is attributed to the surge in demand for energy-efficient and cost-effective data interruptions solutions across large and small & medium enterprises. Simultaneously, the edge segment is estimated to exhibit the fastest CAGR of 13.1% during the forecast period.

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Based on region, the market across North America dominated the market with major share in 2020, accounting for nearly two-fifths of the global data center market, due to the presence of a large number of data centers across the province. On the other hand, the market across Asia-Pacific is expected to witness the fastest CAGR of 14.7% from 2021 to 2030. This is owing to increasing volumes of data center traffic in countries, such as India, Australia, and China.

The report analyses top data center companies operating in the market such as Alphabet Inc., Amazon.com Inc., Digital Realty, Equinix Inc., Hewlett Packard Enterprise, IBM Corporation, Microsoft , NTT Communication Corporation, Oracle, and SAP SE. These players have adopted various strategies to increase their market penetration and strengthen their position in the data center industry.

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Impact of COVID-19 on Data Center Market

● Surge in demand from cloud computing network solutions, during the pandemic, impacted the global data center market negatively.

● However, increase in dependency on data center across healthcare, government, and BFSI sectors has driven the market positively, thereby providing the market with a mixed impact.

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