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Data Center Industry Report 2025-2034: Market Dynamics, Trends, And Forecasts
Data Center
What Is the Expected Data Center Market Size During the Forecast Period?
The size of the data center market has seen significant expansion in the past few years. It's projected to escalate from $268.76 billion in 2024 to $289.31 billion in 2025, registering a compound annual growth rate (CAGR) of 7.6%. The surge during the historic period is linked to the expansion of enterprise IT, the spread of mobile devices, the rise of the internet and digital transformation, business continuity needs, and data center consolidation.
The data center industry is anticipated to observe a steep rise in its market size in the upcoming years. It is projected to achieve a value of $432.61 billion by 2029, advancing at a compound annual growth rate (CAGR) of 10.6%. The acceleration during the forecast period is likely due to the growth of digitalization, the scalability of cloud services, the acceptance of hybrid cloud, the focus on sustainability and green schemes, the importance of cybersecurity, and the effect of remote working. Main tendencies in the forecast span include the expansion of edge computing, migration to the cloud, hybrid cloud integration, the incorporation of artificial intelligence and machine learning, and sustainability efforts.
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What Are the High-Growth Segments in the Data Center Market?
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
Subsegments:
1) By Colocation: Retail Colocation, Wholesale Colocation
2) By Hyperscale: Cloud Service Providers, Large-Scale Enterprises
3) By Edge: Micro Data Centers, Mobile Edge Computing
4) By Other Types: Modular Data Centers, Containerized Data Centers, Traditional Data Centers
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What Key Drivers Are Expected to Influence Future Data Center Market Growth?
The surge in data quantities is projected to boost the data center industry's growth. Data is essentially information converted into a format that's simple to process and utilize. Currently, various organizations process and store massive amounts of data daily, which is housed in data centers. As a result, there has been a significant exponential increase in data volumes, consequently propelling the data center market. For example, a report by Firebolt Analytics Inc., an Israel-based data software firm, in December 2022 revealed a significant increase in data volumes. Companies saw an average rise from 107 TB (terabytes) in 2021 to an anticipated 213 TB in 2023. This increase mirrors the continuous expansion of data management's scale within corporations. Therefore, the escalating increase in data quantities underpins the growth of the data center industry.
Which Companies Hold the Largest Share Across Different Data Center Market Segments?
Major companies operating in the data center market are Caterpillar Inc., Cummins Inc., ABB Ltd., Generac Power System Inc., KOHLER Group, Hitech Power Protection, Rolls Royce Power Systems AG, Aggreko Company, Eaton Corporation, F.G. Wilson, Atlas Copco, Himoinsa SL, 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.
What Trends Are Driving Growth in The Data Center Market?
Advancements in technology are emerging as pivotal trends in the data center market. Prominent entities in the industry are leading the pack by developing sophisticated products like mobile data centers that boast enhanced power capabilities and a sleek design. A case in point is Verakaria, a US-based company offering cryptocurrency hosting and mining services, which has introduced its Mobile Datacenter. This particular data center stands out for its ability to support power up to 2.57 MW, equivalent to powering 696 miners, all within a 10'W-50'L-14'H product footprint. The data center also stands out for its enhanced power features and its uncomplicated design. Additionally, the device is engineered from scratch to manage variant weather conditions in any setting or location. It is also designed for rapid transportation and installation on-site.
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What Are the Emerging Geographies for The Data Center Market Growth?
North America was the largest region in the data center market in 2024. The regions covered in the data center market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Data Center Market?
2. What is the CAGR expected in the Data Center Market?
3. What Are the Key Innovations Transforming the Data Center Industry?
4. Which Region Is Leading the Data Center Market?
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