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Micro Data Center Market Report: Technological Advancements and Demand Forecast
Micro Data Center Global Market Report 2024
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According to The Business Research Company's, The micro data centers market size has grown exponentially in recent years. It will grow from $5.76 billion in 2023 to $7.48 billion in 2024 at a compound annual growth rate (CAGR) of 30.0%. The growth in the historic period can be attributed to rise in adoption of micro data centers, increased demand for micro-modular solutions, increased number of self-contained it facilities, increased interest of the colocation companies to adopt modular solutions, sustainability benefits of micro data centers.
The micro data centers market size is expected to see exponential growth in the next few years. It will grow to $21.48 billion in 2028 at a compound annual growth rate (CAGR) of 30.2%. The growth in the forecast period can be attributed to increasing demand for real-time data, growing adoption of IoT and edge computing, increasing demand for scalability and flexibility, growing concern for data security and privacy, global rise in digitalization. Major trends in the forecast period include demand for high-performance and reliable data centers, adoption of edge computing technologies for compute-intensive applications such as AI and IoT, demand for self-contained, scalable, customizable, and cost-effective data center solutions, product innovation, adoption of 5G network services.
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Market Drivers and Trends:
The rising prevalence of cancer is expected to propel the growth of the in vitro diagnostics enzymes market going forward. Cancer is a term used to describe a group of disorders in which abnormal cells grow and divide uncontrollably, with the potential to invade and harm healthy bodily tissue. The prevalence of cancer is increasing due to infectious agents, immune dysfunction, and hormonal influences. In vitro diagnostics (IVD) enzymes are indispensable in various diagnostic and monitoring assays throughout the cancer care continuum, from early detection and diagnosis to treatment selection, monitoring, and personalized medicine approaches. For instance, in February 2024, according to the World Health Organization (WHO), a Switzerland-based intergovernmental organization, there is anticipated to be over 35 million new cases of cancer in 2050, a 77% increase over the projected 20 million cases in 2022. Therefore, the rising prevalence of cancer is driving the growth of the in vitro diagnostics enzymes market.
Major companies operating in the microdata center market are focusing on developing innovative technology, such as intelligent cooling technology, to gain a competitive advantage in the market. Intelligent cooling technology refers to advanced systems and methodologies designed to efficiently manage and optimize the temperature and airflow within data centers, server rooms, and other environments housing critical IT infrastructure. For instance, in May 2021, Schneider Electric, a France-based digital automation company, launched the EcoStruxure Micro Data Center C-Series 43U with intelligent cooling technology. The C-Series 43U enhances reliability, efficiency, and security for edge IT deployments in office spaces, warehouses, and other commercial environments. This advanced data center model intelligently switches between active, eco, and emergency cooling modes based on real-time system requirements. It is designed explicitly for low-to-medium density applications in environments without 24/7 precision cooling, such as supply rooms, IT closets, and office spaces.
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• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
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• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
• Tailored Solutions: The Business Research Company offers customized reports that address specific needs, ensuring stakeholders receive relevant and actionable insights.
• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.
Major Key Players of the Market:
Huawei Technologies, IBM Corporation, Schneider Electric SA, Fujitsu Ltd., ABB Ltd., Hewlett Packard Enterprise Co., Eaton Corporation, Vertiv Group Corp., Dell Inc., Iron Mountain inc., Rittal GmbH, Tata Communications, Stulz GmbH, Switch , EdgeConneX, Canovate Group Companies, PI Data Centers Pvt. Ltd., ScaleMatrix Inc., Cannon Technologies Ltd., Hanley Energy LLC, Attom Technology, Advanced Facilities Inc., Rackbank Datacenters pvt. Ltd., ALTRON, Zella DC
Micro Data Center Market 2024 Key Insights:
• The micro data centers market size is expected to see exponential growth in the next few years. It will grow to $21.48 billion in 2028 at a compound annual growth rate (CAGR) of 30.2%.
• The Surge In IoT Adoption Fuels Growth In The Micro Data Center Market
• IoT And Intelligent Cooling To Enhance Micro Data Center Performance and Competitiveness
• North America was the largest region in the micro data center market in 2023
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