Cloud Data Center Market Key Drivers, Analysis, Trends, Overview And Forecast To 2033

"The Business Research Company recently released a comprehensive report on the Global Cloud Data Center Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

According to The Business Research Company's, The cloud data center market size has grown rapidly in recent years. It will grow from $23.80 billion in 2023 to $27.22 billion in 2024 at a compound annual growth rate (CAGR) of 14.4%. The growth in the historic period can be attributed to increased scalability, increased cost efficiency, increased agility and flexibility, improved security posture, and green initiatives.

The cloud data center market size is expected to see rapid growth in the next few years. It will grow to $46.04 billion in 2028 at a compound annual growth rate (CAGR) of 14.0%. The growth in the forecast period can be attributed to edge-to-cloud orchestration, increasing cybersecurity threats, quantum computing development, a rise of containerization, increasing data privacy regulations, AI (artificial intelligence) and machine learning workloads, and 5G deployment. Major trends in the forecast period include data sovereignty and compliance, containerization, hybrid and multi-cloud strategies, AI-optimized infrastructure, and serverless computing.

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Market Drivers and Trends:

The increase in demand for cloud services is expected to propel the growth of the cloud data center market going forward. Cloud services encompass a wide range of computing resources and applications that are readily available, on-demand, and delivered via the Internet. The demand for cloud services is increasing due to their scalability, accessibility, and security benefits. A cloud data center supports cloud services, offering the essential infrastructure and resources for hosting, processing, and delivering on-demand computing capabilities via the Internet. For instance, in December 2023, according to the European Commission (EC), a Belgium-based executive body of the European Union (EU), 42.5% of enterprises in the European Union (EU) bought cloud computing services. Primarily utilized for email, file storage, and office software, this marked a 4.2% increase compared to 2021. Therefore, the increase in demand for cloud services is driving the growth of the cloud data center market.

Major companies operating in the cloud data center market are focused on introducing new data center facilities, such as cyber cloud data centers, to boost their revenues in the market. Cyber cloud data centers refer to a data center infrastructure that integrates cloud computing services and emphasizes robust cybersecurity measures. For instance, in March 2023, Acronis International GmbH, a Switzerland-based software company, opened a new cyber cloud data center in Toronto, Canada. This is one of more than fifty cyber-cloud data centers in Acronis' global network. The Toronto data center provides Acronis partners with access to a wide range of cyber protection solutions, giving them the ability to create new services and offerings that can more efficiently and effectively manage their clients' data protection needs with faster access, continuous data availability, and the added benefit of data sovereignty.

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Major Key Players of the Market:

Alphabet Inc., Microsoft Corporation, Verizon Corporation, Reliance Group, Amazon Web Services Inc., International Business Machines Corporation (IBM), Oracle Corporation, KDDI Telehouse, Fujitsu Limited, Eaton Corporation plc, Tencent Cloud, Lumen Technologies, HCL Technologies Limited, Alibaba Cloud, Schneider Electric SE, Google Cloud, Equinix Inc., General Electric Company, China Unicom, Capgemini SE, China Telecom Americas Inc., Cyxtera Technologies Inc., QTS Realty Trust Inc., Flexential Corp., AT&T Inc.

Cloud Data Center Market 2024 Key Insights:

• The Cloud Data Center Market is expected to grow to $46.04 billion in 2028 at a compound annual growth rate (CAGR) of 14.0%.
• Cloud Services Fuel Expansion In The Cloud Data Center Market
• Cyber Cloud Data Centers Redefining Security And Efficiency In The Market
• North America was the largest region in the cloud data center market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the cloud data center market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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