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Soaring Demand Set to Propel Managed Data Center Services Market to $880.17 Billion by 2029
Managed Data Center Services
What Is the Expected CAGR for the Managed Data Center Services Market Through 2025?
Over the past few years, the size of the managed data center services market has experienced a rapid expansion. The market is projected to increase from $413.39 billion in 2024 to $466.89 billion in 2025, displaying a compound annual growth rate (CAGR) of 12.9%. Factors contributing to growth during the historic period include soaring demand for data storage, widespread digitalization, an escalated dependence on data-based procedures, an upsurge in infrastructure complexity, and the worldwide proliferation of businesses.
What's the Projected Size of the Global Managed Data Center Services Market by 2029?
In the coming years, the market for managed data center services is predicted to experience significant expansion. It is anticipated to surge to $880.17 billion by 2029 with a CAGR of 17.2%. This growth during the projected timeframe can be credited to factors such as the adoption of cloud computing, a rise in data creation, the requirement for scalable and adaptable infrastructure, escalating concerns about cybersecurity, and businesses going global. In the predicted period, the major trends to watch out for are the use of artificial intelligence in managing data centers, emphasis on environmentally-friendly and sustainable data centers, the adoption of edge computing solutions, an increase in demand for modular data centers, and the growing use 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 anticipated surge in the quantity of data centers is predicted to boost the expansion of the managed data center services market. Data centers are physical locations used for storing and managing data for a range of reasons, including creating new products and services and maintaining and repairing existing ones. A managed data center delivers comprehensive functionality, service, and monitoring for system health and upkeep without assuming the task of deployment, management, and supervision. For instance, as reported by the Korea Data Center Council (KDCC) in February 2022, the total IT load of colocation data centers reached 430 MW, constituting 11% of the entire APAC IT load. Savills Korea's estimates suggest that Korea's commercial data center IT load will surge by 700 MW between 2021 and 2023, making up 15% of the total Asia-Pacific capacity. Consequently, the rising quantity 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 implementation of advanced technologies has become a predominant trend in the managed data center services market. To maintain their competitive edge in the market, major corporations in this sector are increasingly embracing new technologies. Take for example, Cisco Umbrella, a versatile cloud-based security firm based in the United States. In June 2022, they launched new Secure Access Service Edge (SASE) data centers catering to security needs. These centers integrate a consortium of firewalls, a secure web gateway (SWG), DNS-layer security, a cloud access security broker (CASB), and threat intelligence into one singular cloud service. This allows businesses of all sizes to ensure the security of their customers, no matter where they are located. Furthermore, to ensure swift and reliable service, Cisco Umbrella strategically positions its data centers near Internet exchange points (IXPs). They were selected based on their carrier-neutral attribute and ability to provide unmatched connectivity and services in their respective regions.
What Are the Main Segments in the Managed Data Center Services Market?
The managed data center servicesmarket 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., accenture* 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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