Data Center Market
The exponential increase in data is the major factor that contributes to the growth of the market.
PORTLAND, PORTLAND, OR, UNITED STATE, October 18, 2022 /EINPresswire.com/ — The growing adoption of artificial intelligence and machine learning-powered solutions is forecast to propel the need for the data centers solution, which is opportunistic for market growth.
The rise in investment in data center technology globally coupled with the rise in data center complexities due to scalability drives the market growth. However, high risks associated with data breaches in emerging economies are anticipated to restrain market growth.
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Further, the rise in penetration of high-end cloud computing solutions across prime enterprises paired with the surge in penetration of the Internet of Things is expected to provide lucrative opportunities for the data center market during the forecast period.
Impact of COVID-19 on the Data Center Market –
• Surge in demand for cloud computing network solutions, during the pandemic, impacted the global data center market negatively.
• However, the increase in dependency on data centers across healthcare, government, and BFSI sectors has driven the market positively, thereby providing the market with a mixed impact.
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Based on the solution, the hyperscale segment held the highest market share in terms of revenue, accounting for more than two-fifths of the global data center market. This is attributed to the surge in demand for energy-efficient and cost-effective data interruption solutions across large and small & medium enterprises. Simultaneously, the edge segment is estimated to exhibit the fastest CAGR of 13.1% during the forecast period.
Based on components, the solution segment dominated with the largest share in 2020, holding more than three-fourths of the global data center market. This is because, in order to minimize the costs associated with the operations of data centers and maximize profits, various organizations are now adopting more scalable and efficient power and cooling data center solutions. However, the services segment is expected to cite the fastest CAGR of 12.4% throughout the forecast period, owing to increasing expenditure on data center technology.
However, the rise in the penetration of cloud computing solutions across prime enterprises globally is expected to drive the market by the end of 2021. Furthermore, the IT & telecommunication sector exhibited high growth potential in the deployment of data center applications, owing to the rise in demand for build-in server rooms is forecast to drive the liquid cooling systems market analysis post-pandemic.
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Region-wise, North America holds a significant share of the global data center market size. This is attributed to the presence of prime vendors in the region and the availability of advanced technological solutions. The adoption of cloud computing solutions at the IT & telecommunication and BFSI is expected to propel the growth of the virtualization security industry and is anticipated to boost the growth of the virtualization security market in this region.
Key Findings Of The Study
• By component, the solution segment led the highest data center market share, in terms of revenue in 2020.
• On the basis of enterprise size, the small & medium enterprises (SMEs) segment is expected to exhibit the fastest data center market growth rate during the forecast period.
• Region-wise, North America generated the highest revenue in 2020.
The key players operating in the data center market analysis include Alphabet Inc., Amazon.com Inc., Digital Realty, Equinix Inc., Hewlett Packard Enterprise, IBM Corporation, Microsoft, NTT Communication Corporation, Oracle, and SAP SE. These players have adopted various strategies to increase their market penetration and strengthen their position in the industry.
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