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 Insights
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 Data Center Market Report Snapshots
Want to customize this report?
Our industry expert will work with you to provide you with customized data in a short amount of time.
REQUEST FREE CUSTOMIZATION
USA (+1) 351-333-4748
