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Data Center Market to Exceed US$ 279 Bn

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Data Center Market to Grow by 3.6x with Increasing Application in BFSI Sector

The latest study published by Fact.MR on the data center market provides insights into factors influencing change in consumer behavior and consumption patterns along with their impact on the sales. It highlights crucial insights into factors driving demand outlook across various sources on the basis of type, application, consulting, and integration across seven major regions.

Fact.MR – A Market Research and Competitive Intelligence ProviderAs per latest report by Fact.MR, the global data center market is anticipated to total US$ 77 Bn in 2021. Increasing demand for new data centers across IT & telecom and banking, finance, service & investment (BFSI) sectors is driving the growth in the market.

With growing adoption of artificial intelligence (AI) and internet of things (IoT) for project management and security implementation across BFSI and IT sectors, sales are expected to surge. On account of this, the data center market is estimated to reach US$ 279 Bn by 2031.

Development of hyper scale and advent of green data centers across emerging economies such as IndiaJapan, and China is boosting the market. As these green data centers operate on energy-efficient technologies and do not contain obsolete systems, governments across India and China are providing extensive funding for the robust development.

For instance, as per Indian Brand Equity Foundation, in September 2021, the Indian government announced to build a cyber-lab for the ‘Online Capacity Building Program on Crime Investigation, Cyber Law and Digital Forensics’ to strengthen cyber security capabilities.

Also, as per National Investment Promotion & Facilitation Agency, India is one of the most preferred market for setting-up Global Capability Centers (GCCs), employing over 1 million professionals. In 2020, the data center industry attracted investment of over US$ 396 Mn in India, and the per capita data consumption is expected to hit 25 GB/month by 2025.

Such slew of developments in the emerging economies are expected to drive the growth in the data center market. In response to this, the global data center market is expected to expand at over 13.8% CAGR over the forecast period of 2021 and 2031, estimates Fact.MR.

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In terms of type, the new data centers segment is expected to dominate the market, surpassing US$ 200 Bn by 2031. Growth in the segment is driven by growing demand for hyper-scale data centers, advent of green data centers across East and South Asia, and need for energy-efficient technologies.

“With growing development in digital infrastructures and rising demand to develop green data centers equipped with cutting-edge energy efficient technologies in India and China, key players operating in data center market are likely to generate growth opportunities across East & South Asia,” says a Fact.MR analyst.

Key Takeaways from the Data Center Market Analysis

  • In terms of consulting type, network design and network analysis are expected to account for over 25% and 13% of total market share, respectively.
  • Based on application, the healthcare segment is expected to be the second-largest segment in data center market, holding 15.3% market share
  • With increasing development of green data centers across India, the South Asia & Oceania data center market is expected to increase at 15.4% CAGR by 2031
  • The U.S. data center market is projected to spearhead the growth across North America, exceeding US$ 16.7 Bn in 2021
  • Japan is expected to be emerge as the most lucrative market in East Asia, with sales projected to surge at 12% CAGR by the end of 2031.

Key Drivers

  • Growing trend of virtualization and need for high efficiency quotient regarding data and information security and deployment will increase the demand for data centers
  • Increasing adoption of advanced technologies such as AI and IoT and rising digitization in data centers will drive the demand across healthcare and government sectors.

Key Restraints

  • High start-up and maintenance cost associated with the development of digitized and green data centers is likely to impede the growth in the data center market.

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Competitive Landscape

As per Fact.MR, top five players in the global data center market are anticipated to account for over 35% to 40% of market share in 2021.

Leading players operating in data center market are focusing on collaboration, mergers, and acquisition to gain a competitive edge in the industry. They are also collaborating with government in East and South Asia to tap into emerging markets potential such as IndiaChina, and Japan, to increase their sales.

For instance,

  • In November 2021, Microsoft Corp., joined hands with Belgian Prime Minister Alexander De Croo, to announce the launch of Digital AmBEtion, a comprehensive, multi-year investment plan designed to accelerate the digital transformation of Belgium’s public and private sectors.
  • In March 2021, another leading player, Princeton Digital Group, announced the launch of a new data center in Mumbai, India. The company is based in Singapore and aims to start a pan-national hyper scale data center provider over the next 3 years.
  • In April 2021, Microsoft announced its plan to expand the presence of its Microsoft Azure data center in 10 new countries.

Some of the leading players in the market profiled by Fact.MR are:

  • IBM Corporation
  • Google LLC
  • Equinix, Inc.
  • AT&T Inc.
  • Hewlett Packard Enterprise Co
  • Honeywell International Inc.
  • Others

More Valuable Insights on Data Center Market

A recently published report by Fact.MR provides a detailed analysis on the global data center market, analyzing forecast statistics between 2021 and 2031. The study reveals growth projections in data center market with detailed segmentation:

By Type

  • New Data Centers
  • Internal Data Centers
  • Service Provider Data Centers
  • Data Center Rebuild

By Application

  • IT & Telecom
  • BFSI
  • Governments
  • Healthcare
  • Other

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 and Site Preparation

By Region

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Oceania
  • Middle East & Africa

Key Questions Covered in the Data Center Market Report 

  • The market survey also highlights projected sales growth of the data center market between 2021 and 2031
  • The report offers insight into data center demand outlook for 2021-2031
  • Data center market share analysis of the key companies within the industry and coverage of strategies such as mergers & acquisitions, collaborations or partnerships, and others
  • Data center market analysis identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry

Explore Fact.MR’s Coverage on the Technology Domain –

Data Center Containment Solution Market- The increased adoption of cloud computing and heavy content applications by businesses throughout the world is predicted to increase demand for data centers. This, in turn, is likely to contribute to the growth of the data center containment solutions market. As a result of the Covid-19 epidemic, SMEs and major businesses are migrating to digital platforms, and governments are focused on digitization due to the need for smart cities, which is projected to boost the data center containment solution market.

Data Collection and Labeling Market– The wide range of sectors that use data collection and labelling creates a strong demand for data collection and labelling products and services. Smart device penetration in developing countries such as IndiaIndonesia, and China offers promising data collection and labelling opportunities. During the projection period, the worldwide data collection and labelling market would grow by 7.0 times. Indirectly, the data collection and labelling business is growing due to rising consumer desire for ease through technology. Smart speakers, for example, use data collection and labelling to teach AI software that responds.

Data as a Service (DaaS) Market– The market for Data as a Service is fueled by the fact that it is one of the most cost-effective and agile services for businesses that are utilized to provide amazing services to their consumers. Due to its application in offering data-driven solutions for research teams, sales professionals, marketers, and others from companies, demand for Data as a Service is likely to grow significantly throughout the projection period. Furthermore, businesses are implementing Data as a Service to build a cross-channel consumer understanding in order to learn more about customers, such as consumer buying behavior, consumer data analysis, and so on.

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