The Data Center Market to grow by USD 329.82 billion from 2022 to 2027, Growth Driven by a Rise in the adoption of multi-cloud and network upgrades to support 5G- Technavio
NEW YORK, Sept. 24, 2023
NEW YORK, Sept. 24, 2023 /PRNewswire/ -- The "data center market by component (IT infrastructure, power management, mechanical construction, general construction, and security solutions), end-user (BFSI, energy, IT, and others), and geography (North America, APAC, Europe, South America, and Middle East and Africa)- Forecast and Analysis 2023-2027" report has been added to technavio offering. With ISO 9001:2015 certification, Technavio has proudly partnered with more than 100 Fortune 500 companies for over 16 years. The potential growth difference for the data center market from 2022 to 2027 is USD 329.82 billion, according to Technavio. The rise in the adoption of multi-cloud and network upgrades to support 5Gs is a key factor driving market growth. Multi-cloud uses two or more cloud computing services to deploy specific application services individually. Enterprises are adopting multi-cloud architectures to avoid data loss or downtime due to local component failures, ensure security compliance, and meet workload requirements. Furthermore, this strategy helps avoid dependence on cloud service providers. Most businesses today are adopting a multi-cloud strategy to optimize performance and achieve business goals. Therefore, enterprises leverage multiple public and private clouds for different application workloads. Hence, these factors are expected to drive market growth during the forecast period. Get deeper insights into the market size, current market scenario, future growth opportunities, major growth driving factors, the latest trends, and more. Buy the full report here
Cybersecurity issues are one of the significant challenges restricting market growth.
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The data center market is segmented by Component (IT infrastructure, Power management, Mechanical construction, General construction, and Security solutions), End-user (BFSI, Energy, IT, and Others), and Geography (North America, APAC, Europe, South America, and Middle East and Africa).
- The market share growth by the IT infrastructure segment will be significant during the forecast period. The IT infrastructure segment includes server infrastructure, storage infrastructure, software-defined data center network infrastructure, converged infrastructure, backup software and recovery, automation software, and Data Center Infrastructure Management (DCIM) solutions. The main reason for the growth of these segments is increased investment in hyperscale data centers (HDC). Furthermore, they also ensure the speed of data storage and calculation. It is estimated that the increase in the number of HDCs will create demand for data center IT infrastructure and other related infrastructure worldwide. Hence, these factors are expected to drive segment growth during the forecast period.
View the Sample Report for insights into the contribution of all the segments and regional opportunities in the report.
Key Companies in the Data Center Market:
Alphabet Inc., Amazon.com Inc., Apple Inc., Cisco Systems Inc., CyrusOne LLC, Digital Realty Trust Inc., Equinix Inc., Hewlett Packard Enterprise Co., Intel Corp., International Business Machines Corp., Microsoft Corp., Nippon Telegraph and Telephone Corp., Oracle Corp., Salesforce Inc., SAP SE, Verizon Communications Inc., 365 Data Centers, China Telecom Corp. Ltd., Cyxtera Technologies Inc., and KDDI Corp.
- How do the major trends impact the market?
- How big is the North America market?
- How do the key drivers and challenges impact the market?
The data center server market is estimated to grow at a CAGR of 15.27% between 2022 and 2027. The size of the market is forecasted to increase by USD 115 billion. This report extensively covers market segmentation by application (commercial server and industrial server), type (rack server, blade server, tower server, microserver, and open compute project (OCP) server), and geography (North America, APAC, Europe, South America, and Middle East and Africa).
The data center cooling solutions market is estimated to grow at a CAGR of 24.36% between 2022 and 2027. The size of the market is forecasted to increase by USD 27,954.87 million. This report extensively covers market segmentation by application (air conditioning, economizers, cooling towers, chillers, and others), technique (air-based cooling and liquid-based cooling), and geography (APAC, North America, Europe, Middle East and Africa, and South America).
Historic Market Sizes
Five Forces Analysis
Market Segmentation by Component
Market Segmentation by End-User
Market Segmentation by Geography
Drivers, Challenges, & Trends
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