BANGALORE, India, Oct. 25, 2023 /PRNewswire/ -- Data Centre Market is Segmented by Type (Hosted Services, Public Cloud Services, Others), by Application (Internet Industry, Finance and Insurance, Manufacture, Government, Others): Global Opportunity Analysis and Industry Forecast, 2023-2029.
The global Data Centre market is projected to grow from USD 162560 Million in 2023 to USD 412740 Million by 2029, at a Compound Annual Growth Rate (CAGR) of 16.8% during the forecast period.
Major Factors Driving The Growth Of Data Centre Market
The ever-growing amount of data generated by digital applications, the growing popularity of cloud computing, the need for effective data management, and the demands of emerging technologies like 5G, IoT, and edge computing—all of which call for scalable, secure, and dependable data center infrastructure and services—are all driving the data center market's robust growth.
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TRENDS INFLUENCING THE GROWTH OF DATA CENTRE MARKET
The quick digitization of companies and the spread of data-intensive applications are the main factors propelling the data center market's expansion. As companies depend more and more on cloud computing, big data analytics, IoT devices, and streaming services, they need data centers to handle, store, and analyze the massive amounts of data that are produced. Data center services and infrastructure are in high demand due to the ongoing digital revolution. The proliferation of online services, e-commerce, and remote work have all contributed to the broad acceptance of the Internet and the consequent rise in internet usage. Data centers are the backbone of internet connectivity, therefore this development is a primary driver of their expansion. Data centers guarantee smooth access to internet information and services, lower latency, and improve network stability.
The increasing utilization of virtualization and cloud computing technologies is driving the data center industry. A lot of businesses are moving their IT infrastructure to cloud-based services, which need the hosting of cloud platforms by data centers. Furthermore, data centers may maximize resource use thanks to virtualization technology, which improves operational efficiency and reduces costs. Edge computing is becoming more and more popular. It processes data closer to the source, or "edge" (such as Internet of Things devices). Decentralized approaches are crucial for applications such as autonomous cars and smart cities because they minimize latency and allow real-time data processing. This ecosystem depends on edge data centers, which open up the data center market to smaller, dispersed facilities.
Capital expenditures for data center infrastructure are driven by growing concerns about data security and regulatory compliance. Data must be managed and stored by organizations in locations that adhere to strict security and compliance regulations. The market for data centers is expanding due in part to the necessity of business continuity planning, data redundancy, and disaster recovery.
One important factor propelling data centers is the rollout of 5G networks. Data traffic will rise as a result of 5G technology's faster speeds and reduced latency, especially for applications like augmented reality and driverless cars. When it comes to managing the processing and storage needs of 5G networks, data centers are essential.
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DATA CENTRE MARKET SHARE ANALYSIS
Manufacturers of global core data centers include NTT Communications, Amazon Web Services, and others. The top 5 businesses own around 45% of the market.
With a market share of over 65%, Asia Pacific is the largest, followed by North America and Europe, with respective shares of roughly 17% and 13%.
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Key Companies:
- GOOGLE INC
- Alibaba Cloud
- China Telecommunications Corporation
- Microsoft
- IBM
- Oracle
- Tencent
- Equinix Inc
- China Unicom
- Digital Realty
- China Mobile
- KDDI
- GDS
- VNET
- Cyxtera Technologies
- Coresite
- Iron Mountain
- Beijing Sinnet technology
- NTT Communications
- Amazon Web Services
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SIMILAR REPORTS
- The global modular data center market size was valued at USD 14,952 million in 2019 and is projected to reach USD 59,971 million by 2027, registering a CAGR of 18.7% from 2020 to 2027.
- The global big data and business analytics market size was valued at D198.08 billion in 2020, and is projected to reach D684.12 billion by 2030, growing at a CAGR of 13.5% from 2021 to 2030.
- The global data center cooling market size was valued at D10,541.8 million in 2019 and is projected to reach D27,308.7 million by 2027, growing at a CAGR of 12.8% from 2020 to 2027.
- The global Data Center Rack market was valued at USD 2736.7 million in 2022 and is anticipated to reach USD 3688.4 million by 2029, witnessing a CAGR of 5.1% during the forecast period 2023-2029.
- The global Data Center Switch market was valued at USD 11490 million in 2022 and is anticipated to reach USD 17040 million by 2029, witnessing a CAGR of 5.7% during the forecast period 2023-2029.
- The global Data Center Power market was valued at USD 14970 million in 2022 and is anticipated to reach USD 22610 million by 2029, witnessing a CAGR of 5.6% during the forecast period 2023-2029.
- The global Software-Defined Data Center market size is projected to reach USD 78520 Million by 2026, from USD 36960 Million in 2020, at a CAGR of 13.4% during 2021-2026.
- The global Data Center Colocation market size is projected to reach USD 58140 million by 2027, from USD 33110 million in 2020, at a CAGR of 8.3% during 2021-2027.
- The global Data Center Accelerator market size is projected to reach USD 69440 million by 2027, from USD 6960.5 million in 2020, at a CAGR of 38.7% during 2021-2027.
- The global Green Data Center market size is projected to reach USD 135320 million by 2027, from USD 40230 million in 2020, at a CAGR of 18.4% during 2021-2027.
- The global Data Center Liquid Cooling market size is projected to reach USD 3962.6 million by 2028, from USD 1319.3 million in 2021, at a CAGR of 16.5% during 2022-2028.
- The global Data Center Life Cycle Services market is projected to grow from USD 3943.3 million in 2023 to USD 6433.3 million by 2029, at a Compound Annual Growth Rate (CAGR) of 8.5% during the forecast period.
- Enterprise Data Center (EDC) Market
- The global structured cabling market size was valued at USD 10.62 billion in 2020 and is projected to reach USD 20.88 billion by 2030 growing at a CAGR of 7.4% from 2021 to 2030.
- The global Data Center Rack & Enclosure market is projected to reach USD 2457.4 million in 2029, increasing from USD 2100.5 million in 2022, with the CAGR of 2.3% during the period of 2023 to 2029.
- Internet Data Center (IDC) Cabinet Market
- Data Center and Network Third-Party Hardware Maintenance Service Market
- The global Data Center Automation Software market is projected to grow from USD 14630 million in 2023 to USD 45910 million by 2029, at a Compound Annual Growth Rate (CAGR) of 21.0% during the forecast period.
- Data Center Outsourcing and Infrastructure Utility Service Market
- The global Managed Services market size is projected to reach USD 271640 Million by 2028, from USD 142300 Million in 2021, at a CAGR of 9.2% during 2022-2028.
- Data Center Lithium Ion UPS Battery Market
- The hyper-converged infrastructure market size was valued at USD 3.84 Billion in 2018, and is projected to reach USD 33.16 Billion by 2026, growing at a CAGR of 30.7% from 2019 to 2026.
- The global Edge Computing market size is projected to reach USD 55930 million by 2028, from USD 8237 million in 2021, at a Compound Annual Growth Rate (CAGR) of 31.1% during 2022-2028.
- The global Hyperscale Data Center market size is projected to reach USD 181890 Million by 2028, from USD 48830 Million in 2021, at a CAGR of 20.3% during 2022-2028.
- The global Data Center IT Asset Disposition market is projected to grow from USD 11690 million in 2023 to USD 17250 million by 2029, at a Compound Annual Growth Rate (CAGR) of 6.7% during the forecast period.
- The global Data Center Rack Power Distribution Unit (PDU) market was valued at USD 1493.6 million in 2022 and is anticipated to reach USD 2150.5 million by 2029.
- Data Center Interconnect Network Market
- The global IT Asset Disposition (ITAD) market size is projected to reach USD 15920 Million by 2027, from USD 8391 Million in 2020, at a CAGR of 9.6% during 2021-2027.
- The global Micro Mobile Data Center market is projected to grow from USD 7702.6 million in 2023 to USD 12020 million by 2029, at a Compound Annual Growth Rate (CAGR) of 7.7% during the forecast period.
- Water Leak Detection System For Server Rooms and Data Center Market
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