Press release
Datacenter Market to Witness Comprehensive Growth by 2024
Persistence Market Research (PMR) delivers key insights on the global datacenter market based on installation and construction, consulting and integration services, and applications in its latest report titled, “Global Market Study on Datacenters: Healthcare Application Segment to Register a Value CAGR of 12.6% Between 2016 and 2024 ”. According to the report, the global datacenter installation & construction market is anticipated to be valued at US$ 40.43 Bn by the end of 2016 and this is projected to increase to US$ 95.56 Bn by the end of 2024.Global datacenter market dynamics
The challenging economic scenario and macro-economic factors have a great impact on the growth of the internal datacenters. The declining economy put on hold many datacenter projects since it requires large lead time for the datacenter to construct and the considerable amount of investment. The fluctuating economy and growing technology advancements demand flexible and high computational power solutions in the datacenter landscape, thereby leading to the growth of outsourcing of the datacenter. The growing demand to reduce large capital commitments compel many enterprises to outsource the datacenter services or capacity to external service providers.
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The accelerated growth in digitization results in the transformation of the datacenter infrastructure as the traditional datacenter architecture is not flexible to adapt to the heavy data volume and variety of the information transferred through different devices. The growing digital transformation through the mobile devices, connected technology, Internet of Things demands the datacenter ecosystem with the high speed of deployment, flexibility, scalability, security and availability of data. This digital transformation leads to the development of the innovative datacenter infrastructure that serves as highly agile, cost- effective and software- defined infrastructure
The datacenter market is undergoing rapid change with the change in focus towards cloud computing, cloud provisioning, cloud migration and cloud-based deployment and automation. The rise in the digital data content and growth of a large amount of data transfer via mobile devices have encouraged the enterprises to shift towards the cloud datacenters. Moreover, companies today are focusing on the benefits such as scalability, flexibility and easy deployment and allocating resources to public, private and hybrid cloud environments. Cloud computing provides new architectural environments to datacenter networking, thereby boosting demand for network services and datacenters.
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Global datacenter market forecast
The installation and construction market is expected to witness a CAGR of 11.5% during the forecast period. This is attributed to the growth of the service provider datacenter sub-segment in the new datacenter builds segment. The growth of mega, localized and midtier datacenter globally leads to the overall growth of the service provider datacenter market. The new datacenter builds segment is expected to register a CAGR of 12.4% during the forecast period and the datacenter rebuilds segment is expected to exhibit a CAGR of 6.3% during the forecast period. The consulting & integration services market is expected to be valued at US$ 20.34 Bn by 2024 and is expected to register a CAGR of 12.4% during the forecast period. The growth in consulting activities is attributed to the growth of network design, network design and planning and security consulting.
Persistence Market Research (PMR) is a third-platform research firm. Our research model is a unique collaboration of data analytics and market research methodology to help businesses achieve optimal performance.
To support companies in overcoming complex business challenges, we follow a multi-disciplinary approach. At PMR, we unite various data streams from multi-dimensional sources. By deploying real-time data collection, big data, and customer experience analytics, we deliver business intelligence for organizations of all sizes.
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