Product ID: SQMIG45B2088
Global Data Center Market Size, Share, Growth Analysis, By Infrastructure(IT Infrastructure, Electrical Infrastructure), By Data Center Type(Colocation, Hyperscale), By Data Center Rating(Tier 1, Tier 2), By Enterprise Size(Large Enterprises, Medium & Small Enterprises), By End-use Industry(BFSI, IT & Telecommunication) - Industry Forecast 2024-2031
Report ID:
SQMIG45B2088 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|
Tables:
151 |
Figures:
78
Global Data Center Market Dynamics
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.
- Numerous companies have turned to data centers as essential hubs for storing their valuable data, recognizing the efficiency and security these facilities offer in safeguarding and managing their critical information.
- Data centers provide a reliable source of online services for businesses of all sizes. In fact, according to Akamai Technologies, 63% of Fortune 500 companies rely on data center providers for some or all of their cloud needs – meaning they need a constant and reliable stream of bandwidth and storage space to function properly online.
- Demand for data center space is only going to increase in the coming years. As more businesses turn to data centers, the need for additional space will only continue to increase – which is why data center developers are starting to see a deluge of demand from businesses all over the world.
- Data centers have become an essential part of the modern business landscape – and there’s no sign of that changing any time soon.
Restraint
A number of restraints are hindering the growth of the data center market.
- High cost of data center equipment and construction is a major barrier to market expansion.
- Data centers require a large amount of space and power, which can be difficult to find in many locations.
- Data centers need to be designed and built with specific specifications in order to ensure optimal performance, which adds another layer of complexity and cost.
- Many companies in the global data center market are reluctant to entrust their critical data operations to third-party service providers, preferring to keep control over these operations in-house.
Global Data Center Market Report Snapshots
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