The report is titled as ‘Data Center Market: Opportunity Analysis and Future Assessment 2020-2028’. An overview of conceptual frameworks, analytical approaches of the data center market is the main objective of the report, which further consists of the market opportunity and insights of the data involved in the making of the respective market. The data center market is expected to grow at a significant rate in the near future.
The global data center market was valued US$ 4.2 Bn at the end of 2020 and expected to reach at a value of US$ 6.0 Bn by 2028 with a significant CAGR of 4.5%.
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Data Center Introduction
A data center basically can be understood as a consolidated vault, either virtual or physical, used mainly for the storage, administration and distribution of data and information organized around a particular body of knowledge or referring to a particular business. At its simplest, a data center is a tangible service that organizations can utilize to store their critical data and applications securely.
The structure of the data center is based on a network of storage and computing resources that allow the delivery of shared data and applications. The major elements of a data center design consist of switches, routers, storage systems, firewalls, application-delivery, servers, and controllers. Noticeably, the large data centers are industrial scale operations using as much electricity as a small town. Although, modern data centers are way different than they were just a little while ago.
The infrastructure of the data centers has transitioned from conventional on-site tangible servers to virtual networks that assists workloads and applications across amalgamate of physical infrastructure and into a multiple cloud environment.
In this present day and age, data is present in huge amounts and is associated across many data centers, the edge, and private and public clouds. Even the public cloud is an assemblage of data centers. When applications are accommodated in the cloud, they are using data center resources from the cloud provider.
Data Center Market Dynamics
Today is the generation of cloud computing where over the web data is managed from remote locations. These remote locations access, store, process, deposits, and backs up all the data in the central servers situated in particular buildings.
Data center can be perceived as a remote location where all these servers are assembled in conformity with the craft of technology. The expeditiously rising volume of data and associated surging demand of data storage management, worldwide, is one of the primary factors that is driving the growth of the global data center market.
In addition, the rapidly emerging demand of cloud technology, high-performance computing (HPC) and the widespread growth in Internet and Social Media usage is also positively fueling the growth of the global data center market. Data centers not only have the potential to store the data, but also it can smoothly process and retrieve data in large amounts, which also acts as a positive factor for further growth of the global data center market in the years to come.
Other than that, the cutthroat business environments, in the present-day world, are briskly compelling pressure on IT employees to perform and achieve more and more every year with decreased budgets. For that reason, there is a soaring need for competitive edge, flexibility and agile time to market, owing to which the IT organizations are curiously finding novel solutions that are more cost-effective and more efficient than their former or existing solutions. Consequently, the advanced data centers are projected to witness substantial growth owing to the enormous potential to meet all the needs, thus the global data center market is projected to grow expeditiously in the forthcoming years.
Other than that, several different industries across the world, such as banking and financial institutions, healthcare, retail, IT and telecommunications industries comprehensively make use of data centers, which is further expected to propel the demand of data centers in the global market, thus boosting the growth of the global data center market over the forecast period.
Apart from that, the global markets have also been observing growing demand for operational efficiency, mobility, bandwidth from different enterprises, security, and escalating cloud-based deployment, as well as elevating demand for automation are estimated to augment the global data center market in the near future.
Furthermore, the modern-day data centers are aiming their attention on real-time data analytics for showing the needed visibility to complicated business decisions. Such factors are also anticipated to thrust the growth of the global data center market over the coming years.
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Data Center Market Segmentation
The global data center market is segmented on the basis of type, density, vertical and regions. On the basis of type, the data center market is segmented into corporate data centers and web hosting data centers. On the basis of density, the market is categorized into low, medium, high, and extreme. Furthermore, the data center market is segmented on the basis of vertices into banking & financial services, telecom and IT, government, healthcare, and others.
The research report classifies the global data center market based on type, density, vertical and regions.
- Corporate Data Centers
- Web Hosting Data Centers
- Banking & Financial Services
- IT and Telecommunications
- North America
- Latin America
- Asia Pacific
- Middle East
Data Center Market Key Players
The global data center market is dominated by Digital Realty Trust, Inc., IBM Corporation, Hitachi Ltd, Cisco System, Inc., Hewlett-Packard Inc., EMC Corporation, CyrusOne, Global Switch, DuPont Fabros Technology and Telehouse., among others.
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