Press release
Data Center Market size was valued at USD 141.16 Billion in 2023 and the total Data Center revenue is expected to grow at a CAGR of 26 percentage from 2024 to 2030
Data Center Market
Data Center Market size was valued at USD 141.16 Billion in 2023 and the total Data Center revenue is expected to grow at a CAGR of 26 percentage from 2024 to 2030, reaching nearly USD 711.72 Billion by 2030.
Data Center Market Overview:
The data center market, valued at USD 141.16 billion in 2023, is projected to experience rapid growth, reaching approximately USD 711.72 billion by 2030, driven by a robust CAGR of 26% from 2024 to 2030. Data centers serve as critical infrastructure for housing computing and storage resources essential for managing and delivering applications and data. Their design incorporates various components such as servers, routers, and storage systems, with many organizations opting to outsource data operations to specialized third-party providers to leverage their expertise and operational efficiencies.
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Drivers in the Data Center Market:
The growth in the data center market is fueled by several key factors, including the increasing demand for cloud computing and colocation services, which have led to larger data center leases and the emergence of hyperscale facilities. Technological advancements and the rise of edge computing driven by IoT devices, 5G networks, and self-driving vehicles further stimulate infrastructure investment. Additionally, the substantial influx of capital from investment funds and the shift towards hybrid work models, which necessitate robust cloud-based tools and SaaS applications, contribute to the market's expansion.
Data Center Market Trends:
The data center market is witnessing significant trends such as the expansion of hyperscale data centers, which now dominate the market due to their efficiency and scalability. The demand for edge computing is on the rise as businesses seek to reduce latency and support the increasing use of IoT and 5G technologies. There is also a noticeable shift towards hybrid cloud environments, with enterprises leveraging a mix of public, private, and colocation solutions to optimize their IT infrastructure. Additionally, the growth in "Everything as a Service" (XaaS) underscores the importance of data centers in supporting diverse cloud-based services.
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Data Center Market Opportunities:
Opportunities in the data center market are driven by the expansion of cloud computing, the adoption of hybrid work models, and the increasing need for edge computing solutions. The growing demand for XaaS and the evolution of data center infrastructure to accommodate new applications and technologies present significant growth prospects. Investment in emerging markets and the development of advanced data center technologies also offer promising avenues for future growth, as organizations seek to enhance their infrastructure to meet evolving business needs.
What is Data Center Market Regional Insight?
In 2023, North America led the data center market, accounting for 35% of the total share, bolstered by the presence of major data center providers and significant investments in IT infrastructure. However, the region faces challenges related to power and land constraints, prompting a shift towards secondary markets such as Portland and Phoenix. Asia Pacific is also experiencing substantial growth, driven by the rapid development of 5G networks and increasing cloud service demand in emerging economies like India, China, and South Korea.
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Segmentation Analysis of the Data Center Market
by Type
Traditional
Cloud
Hyperscale
by Deployment
Cloud
On-premise
by Industry
IT & Telecom
BFSI
Energy
Manufacturing
Others
Who is the largest manufacturers of Data Center Market worldwide?
1. Digital Realty
2. Nvidia
3. Oracle
4. Alphabet Inc.
5. IBM Corporation
6. Cisco Systems Inc.
7. Hewlett Packard Enterprise Company
8. Equinix Inc.
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Key Offerings:
Past Market Size and Competitive Landscape
Data Center Market Size, Share, Size & Forecast by different segment
Market Dynamics - Growth Drivers, Restraints, Opportunities, and Key Trends by region
Data Center Market Segmentation - A detailed analysis by Product
Competitive Landscape - Profiles of selected key players by region from a strategic perspective
Competitive landscape - Market Leaders, Market Followers, Regional player
Competitive benchmarking of key players by region
PESTLE Analysis
PORTER's analysis
Value chain and supply chain analysis
Legal Aspects of business by region
Lucrative business opportunities with SWOT analysis
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