Data Center Market Expected to Reach USD 517.17 Billion by 2030, Key Factors behind Market's Exponential Growth

According to the report published by Allied Market Research, The Data Center Market Expected to Reach USD 517.17 Billion by 2030, Key Factors behind Market's Exponential Growth. 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.

The global data center market is expected to witness significant growth owing to the increasing penetration of high-end cloud computing among enterprises and the rising investments in data center applications across the globe. In addition, the increasing implementation of the Internet of Things and hybrid & multi-cloud architecture solutions is expected to create expansive opportunities in the industry.

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The global data center market Size 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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By component, the solution segment held the highest market share in terms of revenue in 2020, contributing to more than three-fourths of the global data center market. This is mainly due to the increasing adoption of more powerful and efficient data center solutions across many organizations to reduce the cost associated with the operations of data centers and optimize profit. On the contrary, the services segment is expected to exhibit the highest CAGR of 12.4% during the analysis timeframe, due to the increasing expenditure in data center technology.

By solution, the hyperscale segment generated the biggest market share in terms of revenue, providing more than two-fifths of the global data center market. This is mainly due to the increase in demand for energy-efficient and cost-effective data interruption solutions among various large and small & medium-scale organizations.

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The North America region held the highest market share in terms of revenue in 2020, garnering about two-fifths of the global data center market. This is because of the existence of a large number of data centers across the region. However, the Asia-Pacific region is expected to showcase the greatest CAGR of 14.7% over the estimated period from 2021 to 2030, owing to the increasing magnitudes of data center traffic in countries, including Australia, India, and China.

The key players operating in the data center market analysis include 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 industry.

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Key Findings of The Study

● By component, the solution segment led the highest data center market share, in terms of revenue in 2020.
● On the basis of enterprise size, the small & medium enterprises (SMEs) segment is expected to exhibit the fastest data center market growth rate during the forecast period.
● Region wise, North America generated the highest revenue in 2020.

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