Fact.MR states the global sales of big data market are expected to surpass US$ 279 Bn by registering a CAGR of 14.3% in the forecast period 2022-2032. Governments across countries, including China, India, the U.S., U.K. and others are increasing digital infrastructure investments for developing robust data centers. Public-private partnerships are driving digital infrastructure growth at a much faster pace.
For instance, the U.K. government announced more than US$ 1 Bn for digital infrastructure development to emerge as digital hub. Data centers are broadly deployed in the IT & telecom and BFSI sectors due to their high-end capabilities of data saving and security. Overall, the global data center market is slated to grow 3.6X over the decade.
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The trend of green data centers has gained high traction, given the increasing need for cost-effective and energy savings along with enhanced efficiency and sustainability. Largely driven by digitization in every industry, data centers are expected to witness potential growth prospects across mature as well as emerging markets. Market participants are leveraging on the megatrend of digitalization. The prime strategy adopted by market frontrunners is enriching their services through value addition at each node of their offerings.
Market Trends
- The internet of things technology is gaining traction growth in many industries owing to multiple applications. The worldwide IoT devices are anticipated to increase to triple and reach USD 29 Billion by 2030. Data storage needs are emerging from IoT devices across distinct consumer markets and industry verticals.
- Since 2020, More than 50% of global businesses have moved their workloads to the cloud. This reorientation almost happened overnight. This includes large volumes of critical data and its vital for the daily functions of companies and customers that increases demand for independent data centers from businesses. The maximum data center demand is driven by IT firms that account to reach USD 222 Billion in 2023.
- Hyper-scale Data Centres- Unlike conventional data centers, modern data centers are altered due to the emergence of the cloud. The cloud data services are remotely applicable and these new servers are can be located away from the physical premises. Rapid improvement in technology has developed data centers not only in terms of accessibility but also in terms of storage capacity. Companies like Amazon web services is projected to become leading firm in infrastructure as a service hyper-scale vendor.
- A data center’s function in cloud computing is to offer the tools required to manage and store data as well as the infrastructure required to run applications. This covers both maintaining and protecting the data as well as housing and powering the physical infrastructure.
- Many leading businesses opt for multi-data center strategies to ensure the businesses are available 24*7*365 and have to ensure phones and systems have access to important data. This essential emphasis on data computation is given with the intention of increasing storage closure situated away from the centralized server. This is likely to foster demand for data centers as it is set to become an essential business strategy.
Eminent Players
- IBM Corporation
- Google LLC
- Equinix, Inc.
- AT&T Inc.
- Apple Inc.
- Cisco Systems Inc.
Major companies have strong customer networks across the globe. Market frontrunners are tech giants with deep pockets, which aids them to invest heavily in development. Additionally, these players offer diversified services that are tailored as per individual customers.
Growth strategies adopted by market participants are agreements & contracts, collaborations, and new product developments to withstand their market position.
- In 2019, Qualcomm Technologies, Inc. launched an AI-based chip family named as Cloud AI 100. The ASIC family comes in a variety of thermal design and form factor points to make a different use case. This newly launched chip is heightened with refined features of AI to provide better performance for devices.
Workflow Optimization
By Type:
- New Data Centers
- Internal Data Centers
- Service Provider Data Centers
- Data Center Rebuild
By Application:
- Data Centers for IT & Telecom
- Data Centers for BFSI
- Data Centers for Governments
- Data Centers for Healthcare
- Others
By Consulting:
- Network Design
- Network Design & Planning
- Security Consulting
- Network Analysis
- Benchmarking
- Needs Assessment
- Operation Assessment
- Process Improvement
By Integration:
- Project Management
- Installation
- Test & Debug
- Custom Software Development
- Security Implementation
- Change Management
- System Configuration
- Training & Site Preparation
Key Questions Covered in the Data centers Report
- What will be the estimated size of the Data centers in 2023?
- At what rate will sales in the global Data centers grow until 2033?
- Which are the factors propelling the Data centers and in the Data centers?
- Which region will spearhead the growth in the global Data centers during 2023-2033?
- Which are the factors driving sales in the Data centers during the forecast period?
More Valuable Insights on Data centers
Fact.MR, in its new report, offers an unbiased Market Analysis of Data centers, Sales and Data centers and of Data centers, analyzing forecast statistics through 2022 and beyond. The study reveals growth projections on the of various criteria.
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