Global Data Center Market Size Garner USD 517.17 Billion by 2030 | Rising at 10.5% CAGR

Rise in investment in data center applications and the increase in the incorporation of high-end cloud computing among organizations drives the market.

PORTLAND, PORTLAND, OR, UNITED STATE, July 11, 2024 /EINPresswire.com/ -- Allied Market Research published a new report, titled, " The Industry 4.0 Market Share Reach USD 618.39 Billion by 2031 at 18.8% CAGR | Top Players such as - GE, Rockwell and Cognex." The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter’s Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry and determine steps to be taken to gain competitive advantage.

The global data center market Size was valued at $187.35 billion in 2020, and is projected to reach $517.17 billion by 2030, registering a CAGR of 10.5% from 2021 to 2030.

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The global data center market is expected to witness significant growth owing to the increasing penetration of high-end cloud computing among enterprises and the rising investments in data center applications across the globe. In addition, the increasing implementation of the Internet of Things and hybrid & multi-cloud architecture solutions is expected to create expansive opportunities in the industry. However, the rising concerns related to data privacy coupled with the increasing demand for managed services may hamper the market’s growth.

The data center market is segmented on the basis of component, type, enterprise size, end user and region. On the basis of component, the market is bifurcated into solution and services. Based on type, the market is fragmented into colocation, hyperscale, edge, and others. By enterprise size, it is divided into large enterprises and small & medium enterprises (SMEs). On the basis of end user, the market is segregated into BFSI, IT & telecom, government, energy & utilities, and others. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

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By component, the solution segment held the highest market share in terms of revenue in 2020, contributing to more than three-fourths of the global data center market. This is mainly due to the increasing adoption of more powerful and efficient data center solutions across many organizations to reduce the cost associated with the operations of data centers and optimize profit. On the contrary, the services segment is expected to exhibit the highest CAGR of 12.4% during the analysis timeframe, due to the increasing expenditure in data center technology.

By solution, the hyperscale segment generated the biggest market share in terms of revenue, providing more than two-fifths of the global data center market. This is mainly due to the increase in demand for energy-efficient and cost-effective data interruption solutions among various large and small & medium-scale organizations.

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The North America region held the highest market share in terms of revenue in 2020, garnering about two-fifths of the global data center market. This is because of the existence of a large number of data centers across the region. However, the Asia-Pacific region is expected to showcase the greatest CAGR of 14.7% over the estimated period from 2021 to 2030, owing to the increasing magnitudes of data center traffic in countries, including Australia, India, and China.

The report analyses top data center companies operating in the market such as Alphabet Inc., Amazon.com Inc., Digital Realty, Equinix Inc., Hewlett Packard Enterprise, IBM Corporation, Microsoft , NTT Communication Corporation, Oracle, and SAP SE. These players have adopted various strategies to increase their market penetration and strengthen their position in the data center industry.

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Covid-19 Scenario-

● The emergence of COVID-19 has significantly affected the growth of market in 2020. However, surge in demand from cloud computing network solutions is acting as a prime factor hampering the market growth.

● Further, the data center market was primarily hit by several obstacles, including lack of availability of a professional workforce due to practical and complete lockdown.

● Moreover, surge in data center adoption across healthcare, government, and BFSI sectors is assumed to drive the data center industry during the post-pandemic period.

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Lastly, this report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

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Allied Market Research (AMR) is a market research and business-consulting firm of Allied Analytics LLP, based in Portland, Oregon. AMR offers market research reports, business solutions, consulting services, and insights on markets across 11 industry verticals. Adopting extensive research methodologies, AMR is instrumental in helping its clients to make strategic business decisions and achieve sustainable growth in their market domains. We are equipped with skilled analysts and experts and have a wide experience of working with many Fortune 500 companies and small & medium enterprises.

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