Data Center Market: Anticipated CAGR of 7.5% Propels Unprecedented Growth Towards US$ 209.8 Billion by 2032

The global data center market was expected to register an impressive growth rate of 7.5% across the forecast period from 2022 to 2032. The market garnered a valuation of US$ 101.79 Billion in 2022 and is expected to accumulate a market value of US$ 209.8 Billion by 2032.

According to the historic period ranging from 2017 to 2021, the global data center market registered a healthy CAGR of 5.5%. Owing to the rising adoption of small and mid-scale data centers has fueled the growth across several sectors. The growth of the data center market is attributed to the exponential rise in data consumption and data generation by various organizations all over the world.

Countries all over the world reported massive data demand during the pandemic which elevated the importance of digital technology and data centers. Attributing to these factors, the data center demand is anticipated to increase with a 7.5% CAGR throughout the 2022-2032 assessment period.

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Key Takeaways from the Data Center Market Report:

• Amidst the Covid 19 pandemic, the growth of the data center market accelerated at a robust pace since the pandemic pushed organizations towards digital transformations, owing to the rise in remote working calls and the need for rapid mobilization of cloud computing in order to cope with a rise in demand for data.
• Data center colocation offers a high-performance environment for IT infrastructure. Customers can efficiently focus on their core business by collocating their data servers instead of tiring themselves by managing a data center. In addition to that, data center colocation also provides the benefits of 100% uptime SLA.
• Data center colocation providers offer building (space), cooling, power units, bandwidth, and physical security for customers to install their own servers and storage. In addition to that, colocation also offers dedicated, private connection options to hundreds of networks and IT service providers to help streamline the architecture. Companies are able to scale their environment according to their customized needs by selecting a collocated, multi-tenant data center
• The Internet has massively influenced individual consumers and large economies alike. It has become an increasingly crucial part of our everyday life. Emerging economies like India and China are exhibiting high demand for social media, television, video streaming, e-Commerce, and net banking, all of which require robust IT infrastructure and data networks.
• Over the past couple of years, technological advancements have accelerated the pace of processing data and enabled vast amounts of data storage. The emergence of 5G IoT technology has totally transformed the design and deployment of data centers in the last two decades. It is estimated that IoT will include 35 billion units installed by 2022.
• Large quantities of data are generated due to the deployment of IoT that needs to be processed and analyzed in real-time. As more data gets generated, a corresponding growth will be witnessed in demand for storage space.

Leading Key Players:

• IBM Corporation
• Cisco System, Inc.
• HPE
• Dell Technologies
• Hitachi Ltd
• NTT Communications
• Schneider Electric
• Comarch SA
• ABB
• Huawei Technologies Co., Ltd.

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Data Center Market Industry Segmentation:

By Component:

• Hardware
  • Power Systems
  • Racks
  • Servers
  • Networking Devices
  • Others
• Software
• Service
  • Professional Services
    • Integration & Implementation
    • Consulting
    • Support & Maintenance
  • Managed Services

By Size:

• Small
• Mid-Sized
• Large

By Industry:

• IT & Telecom
• BFSI
• Manufacturing
• Healthcare
• Media & Entertainment
• Others

By Region:

• North America
• Latin America
• Europe
• East Asia
• South Asia & Pacific
• Middle East & Africa

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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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