Press release
Data Center Infrastructure Management Market to Near US$3 bn by 2024
Transparency Market Research has observed that the rivalry among existing companies in the Data Center Infrastructure Management Market is presently high as leading players are acquiring smaller enterprises to gain market share.
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New product development, business partnerships, and diversification are also key strategies adopted by the leading companies to remain competitive. For example, In 2015, Emerson Electric Company announced the launch of its spinoff Emerson Network Power, Inc. this not only strengthened its thermal and infrastructure management solution portfolio but also provided a significant boost to its portfolio of DCIM solutions.
Government Regulations Compelling Establishment of Green Data Centers
“The surging usage of internet across the globe has resulted in the generation of massive amounts of data, which in turn, has driven the growth of data centers,” states the author of the study.
Most data centers operate round the clock and consume significant amounts of energy for lighting, cooling, heating, and IT equipment. “Data centers today are prompted to curb energy consumption and optimize efficiency and DCIM solutions have fulfilled this very demand. This is one of the key factors fueling the data center infrastructure management market,” the analyst says.
The market is also anticipated to be driven by the rise in government regulations pertaining to carbon emissions. “Governments around the world have been paying increased attention to the alarming rise in carbon emissions and are enforcing regulations to drive companies to build and use green data centers,” the analyst comments. The DCIM market is projected to benefit from this emerging trend in the coming years.
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On the down side, the lack of expertise and awareness regarding the benefits of DCIM solutions are likely to inhibit the growth of the global market. High initial investment also acts as a barrier for several small-to-medium enterprises.
Opportunity in Global DCIM Market to Near US$3 bn by 2024
The opportunity in the global DCIM market stood at US$529.5 mn in 2015 and is likely to be worth US$2,859.2 mn by 2024, registering a strong CAGR of 21.1% from 2016 to 2024.
By solution, the DCIM market was led by IT asset management. This segmented generated US$253.7 mn in terms of revenue in 2015 and is expected to reach US$1,480.8 mn by 2024.
The segment is also projected to emerge as the most rapidly developing solution type, registering a 22.2% CAGR during the forecast period.
On the basis of component, the IT assets were the key contributors to the DCIM market and will continue their lead through 2024. DCIM software, on the other hand, will exhibit strong growth over the course of the forecast period.
The IT sector was the leading industry vertical using DCIM solutions while the healthcare sector will register remarkable growth. Geographically, North America is not only the leading segment in terms of revenue but will also emerge as the fastest expanding regional segment by the end of the forecast period.
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Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.
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