Modular Data Center Market worth $ 54.42 Billion, Globally, by 2028 at 14.96% CAGR: Verified Market Research™

Modular Data Center Market worth $ 54.42 Billion, Globally, by 2028 at 14.96% CAGR: Verified Market Research™

PR Newswire

JERSEY CITY, N.J., July 13, 2021

Growing adoption of cloud services by SMEs, and highly scalable and energy-efficient data centers which are efficiently able to meet the client's current and near-term needs are driving the growth of the Modular Data Center Market.

JERSEY CITY, N.J., July 13, 2021 /PRNewswire/ -- Verified Market Research recently published a report, "Modular Data Center Market" By Components (Solutions, Services), By Organizational Size (Small and Medium-sized Enterprises, Large Enterprises), By Verticals (BFSI, IT and Telecommunication, Healthcare, Retail), and By Geography. According to Verified Market Research, the Global Modular Data Center Market was valued at USD 17.84 Billion in 2020 and is projected to reach USD 54.42 Billion by 2028, growing at a CAGR of 14.96% from 2021 to 2028.

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202 - Pages

126 – Tables

37 – Figures

Global Modular Data Center Market Overview

The introduction of the fourth industrial revolution, big data analytics, and the Internet of Things necessitates the use of adaptable IT resources. Furthermore, the rise in cloud computing penetration and rapid digitization has resulted in the data center industry's constant expansion. Furthermore, the implementation of work-from-home policies and the development in the trend of remote working culture drive demand for modular data centers. This has resulted in a greater focus on time to market and the ability to expand data center capacity efficiently and quickly. One of the consequences of the pandemic was the acceleration of digitization in almost every business. Datacenter IP traffic is expected to reach 20.6 ZB by the end of 2021, an increase of approximately 7ZB since 2016.

2020 saw approximately $17 billion invested in public cloud infrastructures, with no sign of a slowdown from corporate giants like Amazon, Microsoft, or Google. Furthermore, modular ways to build medium- or large-scale data centers provide both speed of deployment and quality of construction, as well as ease of operation. As a result, the demand for rapidly deployable and scalable data centers fuels market growth. An increase in the adoption of cloud services by SMEs is also an important driver of market growth. Cloud computing has become an emerging technology in recent years, removing the burden of obtaining licensed software and hefty hardware, which is more advantageous to SMEs. Cloud services are rapidly being adopted by SMEs since they allow these businesses to focus on their core business events such as improving productivity. According to NASSCOM, cloud adoption and spending in India is expected to grow at a CAGR of 30% to reach $7.1 billion in 2022.

Key Developments in Modular Data Center Market

The major players in the market are Dell Inc. (US), Vertiv Co. (US), Hewlett Packard Enterprise Development LP (US), Eaton Corporation plc (Ireland), Rahi Systems Pvt Ltd. (US), STULZ GmbH (Germany), Cannon Technologies (UK), Rittal  (Germany), BladeRoom  (UK), and Edge Mission Critical Systems (US).

Verified Market Research has segmented the Global Modular Data Center Market On the basis of Components, Organizational size, Verticals and Geography.

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