Data Center Market to Garner US$ 279 billion by 2032: Projects Fact.MR

NEW YORK, March 2, 2022 /PRNewswire/ --  In 2022, the global data center market is anticipated to be worth roughly US$ 77 billion. Data center revenue is expected to grow at a high CAGR of 13.8% to reach US$ 279 billion by 2032.

Data centers have benefited greatly from the widespread adoption of the internet of things and cloud computing. Data centers have progressed impressively in both developed and emerging countries, with firms investing in new data storage and deployment facilities. Connected systems have fueled industry expansion and provided several prospects for data center enterprises and knowledge. Over the forecast period of 2022-2032, this would result in a 3.6x increase in market size.

Given the growing demand for cost-effective and energy-saving data centers, as well as increased efficiency and sustainability, the idea of green data centers has gained pace. Data centers are likely to see considerable growth opportunities throughout mature and emerging regions, owing to digitization in every industry. Market participants are capitalizing on the digitization megatrend. Market leaders' primary goal is to enrich their services through value addition at each node of their offers.

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On the back of increased company investments and the availability of improved IT infrastructure, the North American area will maintain its supremacy in the data center architectural space. In terms of both absorption and construction, the region has seen an increase in propagation in the United States.

According to the Economic Report, the San Francisco Bay Area has surpassed Washington, DC, and Dallas as the third-largest data center business in the United States. Around 120 data centers and 335 service providers with nine network fabrics are located in the Bay Area.

As countries in the Middle East and Africa (MEA) strive to change their economies, technology is likely to play a key role, with cloud services at the forefront of this shift. Companies are also contemplating investments in MEA in order to gain a large piece of the region's cloud computing market.

For example, Microsoft Corporation intends to enter Middle Eastern markets such as Abu Dhabi and Dubai in order to establish cloud data centers there.

"Mounting cloud-based services has boosted development of digital infrastructure, thereby accelerating the need for new data centers across regions," says a Fact.MR analyst.

Key Takeaways:

• By consulting, network design is predicted to have a 25% market share in data centers, according to consultancy.
• By type, new data centers are estimated to generate a market value of US$ 200 billion.
• The data center sector is predicted to have a market share of almost 35% in North America.
• The data center industry is estimated to generate a market value of US$ 11 billion in MEA.
• The top four countries driving data center demand are the United States, Japan, China, and India.

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.

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Competitive Landscape

Major corporations have extensive customer networks all around the world. Market leaders are IT behemoths with enormous finances, allowing them to invest extensively in research and development. Furthermore, these firms provide a wide range of services that are tailored to the needs of individual customers.

Market players use agreements and contracts, collaborations, and new product development as growth tactics to maintain their market position.

• In 2019, Qualcomm Technologies, Inc. released Cloud AI 100, an AI-based chip family. The ASIC family is available in a number of thermal designs and form factors to suit a variety of applications. This newly released chip has been enhanced with improved AI functions to improve device performance.

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

• IBM Corporation
• Google LLC
• Equinix, Inc.
• AT&T Inc.
• Apple Inc.
• Cisco Systems Inc.

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 2022 and 2032. 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 :
• 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

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Key Questions Covered in the Data Center Market Report 

• The market survey also highlights projected sales growth of the data center market between 2022 and 2032.
• The report offers insight into data center demand outlook for 2022-2032.
• 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

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Data Extraction Software Market Analysis - The trend towards artificial intelligence and machine learning technologies, as well as strong demand for superior business intelligence tools, are the key reasons driving the growth of the data extraction software market.

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SOURCE Fact.MR