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Managed Data Center Services Surge With The Rise Of Data Centers: Strengthening the Growth Trajectory of the Managed Data Center Services Market
Managed Data Center Services Market
What Is the Expected CAGR for the Managed Data Center Services Market Through 2025?
There has been a swift expansion in the market size of managed data center services.
In recent years. The market is predicted to balloon from $413.39 billion in 2024 to $470.6 billion in 2025, with a compound annual growth rate (CAGR) of 13.8%. The notable growth during the historical period is due to a surge in the need for data storage, broadening digitalization, heightened dependence on data-centric processes, increased intricacy of the infrastructure, and the international expansion of businesses.
What's the Projected Size of the Global Managed Data Center Services Market by 2029?
The market size for managed data center services is predicted to grow substantially in the upcoming years, reaching $893.98 billion by 2029 with a CAGR of 17.4%. This anticipated growth during the forecast period is attributed to factors such as the adoption of cloud computing, an increase in data generation, the requirement for scalable and flexible infrastructure, growing concerns regarding cybersecurity, and the worldwide expansion of businesses. Future trends forecasted for this period include the implementation of machine learning in data center operations, an emphasis on sustainable and eco-friendly data centers, the integration of edge computing solutions, a rise in demand for modular data centers, and a greater usage of software-defined data center (SdDC) solutions.
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Top Growth Drivers in the Managed Data Center Services Industry: What's Accelerating the Market?
The managed data center services market is projected to expand due to the increasing number of data centers. The term ""data center"" is defined as a physical location where data is stored and managed for various tasks, like creating new products and services or maintaining and repairing current ones. Without taking on duties related to deployment, management, or monitoring, a managed data center offers complete functionality, maintenance, and system health checks. For example, in February 2022, the Korea Data Center Council (KDCC), a Korean organization dedicated to fostering the growth of the country's data center industry, noted that the total IT load of colocation data centers reached 430 MW, representing 11% of the total APAC IT load. Savills Korea forecasts that the total commercial data center IT load in Korea will increase by 700 MW from 2021 to 2023, making up 15% of the total capacity in the Asia-Pacific region. As such, the increasing number of data centers is fueling the expansion of the managed data center services market.
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What Trends Will Shape the Managed Data Center Services Market Through 2029 and Beyond?
The key trend in the managed data center service market is technological advancements. To remain competitive in the market, big companies in this domain are embracing new technologies. Take, for instance, Cisco Umbrella (a US-based company specialized in versatile cloud-based security) which in June 2022, unveiled a new Secure Access Service Edge data center for security. The system accommodates firewalls, a secure web gateway, DNS-layer security, a cloud access security broker, and threat intelligence in a single cloud service. It is designed for organizations of all sizes to protect their consumers regardless of where they operate. Cisco Umbrella data centers are strategically located near Internet exchange points to ensure fast and reliable service. Their location was chosen for its carrier-neutrality and its ability to provide premier connectivity and services to the regions they serve.
What Are the Main Segments in the Managed Data Center Services Market?
The managed data center services market covered in this report is segmented -
1) By Type: Managed Storage, Managed Hosting, Managed Collocation, Other Types
2) By Deployment Type: Cloud, On-Premise
3) By Enterprise Size: Small Enterprises, Medium Enterprises, Large Enterprises
4) By End-User Industry: BFSI (Banking, Financial Services, And Insurance), Energy, Retail, Healthcare, Manufacturing, Other End-User Industries
Subsegments:
1) By Managed Storage: Backup And Recovery Solutions, Data Archiving Services
2) By Managed Hosting: Dedicated Hosting, Virtual Private Servers (VPS)
3) By Managed Collocation: Rack Space Services, Power And Cooling Management
4) By Other Types: Disaster Recovery As A Service (DRaaS), Security Management Services
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Which Top Companies are Driving Growth in the Managed Data Center Services Market?
Major companies operating in the managed data center services market include Microsoft Corporation, Verizon Communications Inc., AT&T Inc., Deutsche Telekom AG, Dell Inc., Accentur*e plc, International Business Machines Corporation, Cisco Systems Inc., Orange S.A., Fujitsu Limited, Hewlett Packard Enterprise Development LP, Tata Consultancy Services Ltd., Telefonaktiebolaget LM Ericsson, Capgemini SE, NTT Data Inc., Cognizant Technology Solutions U.S. Corporation, Infosys Limited, ZTE Corporation, Lumen Technologies Inc., DXC Technology, CGI Inc., Atos SE, Wipro Ltd., HCL Technologies Limited, Equinix Inc., Rackspace Inc., Hitachi Vantara Corporation, LTIMindtree Limited, Unisys Corporation, Cyxtera Technologies Inc.
Which Regions Will Dominate the Managed Data Center Services Market Through 2029?
North America was the largest region in the managed data center services market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the managed data center services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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