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Data Center Services Global Market Report 2024 To 2033 | Fujitsu Ltd, Equinix Inc., Cisco Systems Inc, Huawei Technologies Co. Ltd, Capgemini SE, Hewlett Packard Enterprise Company
Data Center Services Market Share
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According to The Business Research Company's, The data center services market size has grown rapidly in recent years. It will grow from $68.44 billion in 2023 to $78.51 billion in 2024 at a compound annual growth rate (CAGR) of 14.7%. The growth in the historic period can be attributed to rising adoption of digitalization, an increase in the number of data centers, strong economic growth in emerging markets and growing demand for cloud computing.
The data center services market size is expected to see rapid growth in the next few years. It will grow to $131.45 billion in 2028 at a compound annual growth rate (CAGR) of 13.8%. The growth in the forecast period can be attributed to an increase in usage of ott (over-the-top) services, increasing internet penetration, increasing volume of structured and unstructured data and increasing 5g subscriptions. Major trends in the forecast period include new technology advancements, micro data center services, hyper-scale data centers with clean energy, focus on off-grid data center-as-a-service and partnerships and collaborations.
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Market Drivers and Trends:
The growing adoption of digitalization is expected to be a significant driver for the growth of the data center services market. The adoption of digitalization is increasing due to the need for increased productivity, lowering operational costs, enabling faster decision-making, increasing efficiency, technological advancements, push towards digitalization from stakeholders, and others. The increasing adoption of digitalization will generate a huge amount of data that needs to be stored, driving the need for data centers. This need for data centers will create a huge demand for data center services to set up, manage, and operate data centers. For instance, according to a survey conducted among 1,200 CXOs and decision-makers in 9 countries by Fujitsu and published in August 2021, during the pandemic, 82% of respondents from offline organizations had accelerated the digital transformation into their business. During the pandemic, digital became the default mode of living and working, making organizations adapt to digitalization by creating remote work environments and digitalizing customer services. Therefore, the growing adoption of digitalization will drive the data center services market.
Technological advancement is a key trend gaining popularity in the data center services market. The market is witnessing the implementation of next-generation technologies into data center services such as automation, blockchain technologies, the internet of things, 5G mobile broadband, cloud computing, artificial intelligence, data analytics, and others. These advancements offer advanced features, automation, efficiency, reliability, and reduced cost for data center service providers. Major companies operating in the data center services market are focused on providing technologically advanced data center services to strengthen their market position. For instance, ABB, a Sweden-based automation company offers ABB Ability Data Center Automation systems for energy saving and sustainability. These are industrial automation systems for use in data centers. These run continuously and reliably, optimizing operational processes and lowering the risk of downtime, and eliminating waste caused by unnecessary or premature maintenance.
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• 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:
Teradyne, Fanuc Corporation, KUKA AG, Denso Corporation, ABB Group,Mitsubishi Electric, Yaskawa Electric Corporation, Doosan, Kawasaki Heavy Industries, Omron Corporation, HASCO, AUBO, Jaka Robotics, United Robotics Group GmbH, Melior Motion GmbH, Kassow Robots ApS, Schaeffler Technologies AG & Co. KG, Universal Robots, OnRobot, Kinova, CodeNinja, Apollo Solutions Dev, ViaObjects, VR4, Consensus group, ITPS ONE, Optimusrobo FZCO, Unique World Robotics, Seed Robotics, Neo Robotics, GLITZ Robotics, Cobots, Zipline, TIRA ROBOTS, Ryonic Robotics, Arone
Data Center Services Market 2024 Key Insights:
• The data center services market size is expected to see rapid growth in the next few years. It will grow to $131.45 billion in 2028 at a compound annual growth rate (CAGR) of 13.8%.
• Rising Digitalization Sparks Surge In Demand For Data Center Services
• Incorporation Of Next-Generation Technologies Drives Advancements In Data Center Services
• North America was the largest region in the data center services market in 2023
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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Learn More About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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