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Data Center Market 2024 - By Size, Share, Forecast And Trends Analysis Report 2033
Data Center Market
Data Center Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.
The Market Size Is Expected To Reach $8.59 billion In 2028 At A CAGR Of 17.0% :
The data center market size has grown strongly in recent years. It will grow from $252.68 billion in 2023 to $274.98 billion in 2024 at a compound annual growth rate (CAGR) of 8.8%. The growth in the historic period can be attributed to enterprise it growth, mobile device proliferation, internet and digital revolution, business continuity requirements, data center consolidation.
The data center market size is expected to see strong growth in the next few years. It will grow to $388.41 billion in 2028 at a compound annual growth rate (CAGR) of 9.0%. The growth in the forecast period can be attributed to increasing digitalization, cloud services expansion, hybrid cloud adoption, sustainability and green initiatives, cybersecurity prioritization, remote workforce impacts. Major trends in the forecast period include edge computing expansion, cloud migration, hybrid cloud adoption, ai and machine learning integration, sustainability initiatives.
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Data Center Market Major Segments
The data center market covered in this report is segmented -
1) By Type: Colocation, Hyperscale, Edge, Other Types
2) By Component: Solution, Services
3) By Enterprise Size: Large Enterprises, Small And Medium Enterprises (SMEs)
4) By End User: BFSI, IT And Telecom, Government, Energy And Utilities, Other End Users
Key Driver - Data Center Market Expansion Fueled By Soaring Data Volumes
Increasing growth in data volumes is expected to propel the data centers market going forward. Data refers to information that has been translated into a form that is easy to process and use. Today, all types of organizations process and store large quantities of information every day, and therefore they store the same in data centers; as a result, the volume of data has been growing exponentially, thereby driving the data centers market. For instance, in December 2022, according to a report published by Firebolt Analytics Inc., an Israel-based data software company, companies are experiencing a surge in data volumes, with an average increase from 107 TB (terabytes) in 2021 to an expected 213 TB in 2023. This growth reflects the ongoing expansion in the scale of data management within organizations. Therefore, increasing growth in data volumes is driving the growth of the data center market.
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Prominent Trend - Technological Advancements And Mobile Data Centers With Enhanced Power Capabilities
Technological advancements are the key trends gaining popularity in the data center market. Major players in the market are creating technologically advanced products such as the mobile data center features a superior power capability and minimalist design. For instance, Verakaria, a US-based cryptocurrency hosting, and mining service provider launched the Mobile Datacenter. The unique features of this data center include that it can support up to 2.57 MW of power, which is equivalent to 696 miners, in a 10'W-50'L-14'H product footprint, and is built with improved power capabilities and a simple design. Its other benefits include that the device is designed from the bottom up to handle the shifting weather patterns in any environment, in any place. It is also made to be quickly transported and installed on-site.
Data Center Market Players
Major companies operating in the data center market report are Caterpillar Inc., Cummins Inc., ABB Ltd., Generac Power System Inc., KOHLER Group, Mitsubishi Motors Corporation, Hitech Power Protection, Rolls Royce Power Systems AG, Aggreko Company, Bruno s.r.l., Eaton Corporation, F.G. Wilson, Atlas Copco, Himoinsa SL, Langley Holdings PLC, MTU Friedrichshafen GmbH, Wärtsilä Corporation, Schneider Electric SE, Siemens AG, Emerson Electric Co., Socomec Group, Riello UPS, Vertiv Co., Delta Electronics Inc., Toshiba Corporation, Fuji Electric Co.Ltd., Kirloskar Electric Company, Yanmar Co. Ltd., Trina Solar Ltd., Yingli Green Energy Holding Company Limited
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Largest And Fastest Growing Region In The Market
North America was the largest region in the data center market in 2023. The regions covered in the data center market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Data Center Market Report Structure
3. Data Center Market Trends And Strategies
4. Data Center Market - Macro Economic Scenario
5. Data Center Market Size And Growth
…..
27. Data Center Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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