USD 231.22 Billion
Report ID:
SQMIG45B2088 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|
Tables:
151 |
Figures:
78
Global Data Center Market size was valued at USD 231.22 Billion in 2019 and is poised to grow from USD 243.01 Billion in 2023 to USD 361.78 Billion by 2031, at a CAGR of 5.10% during the forecast period (2024-2031).
The data center market stands as a crucial pillar supporting both the IT and OTT industries. With the industry's expansion, there has been a rapid surge in demand for data center services, primarily essential for data storage, processing, distribution, network connectivity, and security. This burgeoning demand is fueled by several key factors.
Firstly, the global increase in internet users has been consistent over recent years, attributed to the widespread adoption of mobile devices and the availability of high-speed broadband connections. As internet usage continues to grow, the need for extensive data storage and processing capabilities rises, thereby boosting the demand for data center services.
Additionally, the rise of streaming giants like Netflix, Hulu, and Amazon Prime Video has captivated audiences worldwide. These platforms necessitate substantial bandwidth and storage capacities, further propelling the demand for data centers to support their operations.
Moreover, there has been a noteworthy uptick in the adoption of cloud computing in the global data center market. This shift allows businesses to swiftly and efficiently scale their operations without the need for significant investments in their infrastructure. The surge in cloud computing adoption is consequently spurring the demand for data center services to accommodate this evolving landscape.
US Data Center Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 231.22 Billion
Largest Segment
Cloud Data Center
Fastest Growth
Cloud Data Center
Growth Rate
5.10% CAGR
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For better understanding, we have segmented the global data center market by Infrastructure, data center type, data center rating, enterprise size, and end use industry. Wherein, the Infrastructure segment is bifurcated into IT Infrastructure, Electrical Infrastructure, Mechanical Infrastructure, Support Infrastructure and others. By data center type, the market is segmented into Colocation, Hyperscale, Edge, Cloud Data Center, Enterprise Data Center, Micro Data Center and others. Moving ahead, we have also sub-segmented data center rating into Tier 1, Tier 2, Tier 3 and Tier 4. By Enterprise Size we have sub-segmented it into Large Enterprises and Medium & Small Enterprises. By end use industry, the global data center market is further classified into BFSI, IT & Telecommunication, Government, Healthcare, Retail Manufacturing and Others. By region, the market is categorized into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa.
Data Center Market Analysis by Size
Cloud data centers dominate the market due to various reasons like their scalability, cost-efficiency, and flexibility. They enable businesses to expand operations rapidly without investing in physical infrastructure. With on-demand resources and easy accessibility, cloud data centers offer a compelling solution for diverse computing needs, driving their dominance in the market.
According to a report by SkyQuest Technology, Cloud data centers have emerged as the dominant force in the modern data landscape, showcasing unparalleled advantages that propel their widespread adoption. With their inherent scalability, cloud data centers offer businesses a flexible and cost-efficient solution to meet the dynamic demands of the digital age. Unlike traditional data centers, which require significant upfront investments in hardware and maintenance, cloud data centers provide on-demand resources that can be easily scaled up or down as needed. This flexibility allows businesses to swiftly respond to market changes and scale their operations without the burden of managing physical infrastructure.
Moreover, the allure of cloud data centers lies in their ability to enhance accessibility and reliability for users across the globe. By leveraging a network of geographically dispersed data centers, cloud providers ensure data redundancy and lower latency for end users. This means faster access to applications and services, improving overall user experience. Additionally, the distributed nature of cloud data centers improves disaster recovery capabilities, safeguarding critical data and applications against unforeseen disruptions.
Another key factor driving the dominance of cloud data centers is the vast array of services and technologies they offer. From Infrastructure as a Service (IaaS) to Platform as a Service (PaaS) and Software as a Service (SaaS), cloud providers present a comprehensive ecosystem to cater to diverse business needs. This comprehensive suite of services empowers businesses to focus on innovation and core competencies, offloading the complexities of IT infrastructure management to the cloud. As businesses increasingly seek agility, cost savings, and innovation, cloud data centers stand out as the definitive choice, underlining their dominance in the modern data center market.
Data Center Market Analysis by End User
By end user, the global data center market is dominated by IT& telecom industry. There is a high demand for data centers among IT and telecom companies. A data center is a facility used to house computer systems and associated components, such as telecommunications and storage systems. The main purpose of a data center is to store, process, and distribute large amounts of data.
Data centers come in a variety of sizes, from small facilities that can fit inside a single room to large complexes that occupy several acres. The size of a data center depends on the needs of the company that it will be serving. For example, smaller businesses may only need a few racks of servers, while larger businesses may require hundreds or even thousands of servers.
The location of a data center also varies depending on the company's needs. Some organizations prefer to keep their data centers close to their headquarters so that they can easily access its resources. Others choose to locate their data centers in remote areas so that they can take advantage of lower energy costs, which in turn, give impetus to the growth of data center market. As company use different strategies to improve market revenue and market share.
Data centers are critical components of any IT or telecom infrastructure. Without them, companies would not be able to store or process the large amounts of data required for their operations. As more and more businesses rely on digital information, the demand for data centers is expected to continue growing.
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North America is dominating the global data center market. There are many reasons why North America is the leading consumer of data center services. The region has the highest concentration of data-intensive industries, including finance, media, healthcare, and technology. Furthermore, North American businesses have been early adopters of cloud computing and other cutting-edge technologies that require large amounts of data storage and processing power.
The growth of North America's data center market has also been fueled by the region's demand for high-bandwidth applications and services, such as streaming video and online gaming. With more users accessing these types of services from mobile devices, there is an even greater need for data centers that can handle large volumes of traffic.
Another factor that has contributed to North America's dominance in the data center market is the region's favorable regulatory environment. In particular, the United States has laws and regulations in place that encourage companies to invest in data centers. For example, the Foreign Investment in Real Property Tax Act provides tax incentives for companies that build or expand their data centers in the United States.
Looking forward, it is expected that North America will continue to be the leading consumer of data center services due to the continued growth of cloud computing and other technological innovations.
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Data Center Market Driver
In a world where data is king, businesses are desperate to get their hands on as much of it as possible. That’s why the data center market is becoming more important by the day. Here are five reasons why:
Demand for data continues to grow exponentially.
Restraint
A number of restraints are hindering the growth of the data center market.
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The data center market is one of the most competitive in the world. A number of companies have entered the market in recent years, and many more are expected to enter in the future. This article will provide a competitive analysis of the data center industry. Following are five key factors that will determine which company succeeds in this market:
Cost efficiency: The key to success for any company in this sector is reducing costs as much as possible. This can be done by looking for ways to reduce energy consumption, building efficiency into systems, or by outsourcing certain tasks to lower cost providers.
Innovation: In order to stay ahead of the competition, companies must continue to develop new technologies and find new ways to increase efficiency. This can include developments such as virtualization and cloud computing, which allow for greater flexibility and cost savings.
Customer Service: Companies in the global data center market that can provide customer service that meets customer needs will be more successful than those that do not. This includes ensuring systems are up and running quickly, providing support when needed, and responding to customer complaints in a timely manner.
Scalability: The data center market is highly scalable and can be expanded quickly to meet customer needs. This means companies must be able to grow rapidly and adapt to changing conditions.
Networking: In order to provide services to customers, companies must have strong networking capabilities. This includes ensuring systems are connected securely, delivering consistent performance, and managing traffic congestion.
Data Center Market Top Player’s Profiles
Data Center Market Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
The data center industry is highly competitive, with a number of large players vying for market share. However, there are also a number of smaller niche players that specialize in specific areas or technologies. This fragmentation can make it difficult to get a clear picture of the overall data center market.
The report looks at the data center market from a global perspective and finds that the Asia-Pacific (APAC) region will experience the highest growth rate during the forecast period. This rapid growth is being driven by a number of factors, including the continued expansion of cloud computing and big data applications, the need for faster and more reliable connectivity, and the growing demand for edge computing. In addition, government initiatives around the world are mandating the use of data centers for critical infrastructure applications such as national security and disaster management.
The data center market is growing at a rapid pace and is expected to continue to grow in the coming years. There are a number of factors driving this growth, including the increasing demand for data storage and processing power, the need for better security and uptime, and the proliferation of cloud computing.
There are a number of trends that are impacting the data center industry, including the rise of artificial intelligence (AI) and machine learning, the increasing use of containers and microservices, and the move towards edge computing. These trends are all likely to have a significant impact on the way data centers are designed and operated in the future.
Report Metric | Details |
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Market size value in 2023 | USD 231.22 Billion |
Market size value in 2031 | USD 361.78 Billion |
Growth Rate | 5.10% |
Forecast period | 2024-2031 |
Forecast Unit (Value) | USD Billion |
Segments covered |
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Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Companies covered |
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Customization scope | Free report customization with purchase. Customization includes:-
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Historical Year | 2019 |
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Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Global Data Center Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Data Center Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Data Center Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Data Center Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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REQUEST FREE CUSTOMIZATIONGlobal Data Center Market size was valued at USD 231.22 Billion in 2019 and is poised to grow from USD 243.01 Billion in 2023 to USD 361.78 Billion by 2031, at a CAGR of 5.10% during the forecast period (2024-2031).
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Product ID: SQMIG45B2088