Data Center Market to Reach $517.17 Bn, Globally, by 2030 at 10.5% CAGR: Allied Market Research

PORTLAND, Ore., Sept. 27, 2021 /PRNewswire/ -- Allied Market Research published a report, titled, "Data Center Market by Component (Solution and Services), Type (Colocation, Hyperscale, Edge, and Others), Enterprise Size (Large Enterprises and Small & Medium Enterprises (SMEs)), and End User (BFSI, IT & Telecom, Government, Energy & Utilities, and Others): Global Opportunity Analysis and Industry Forecast, 2021–2030." According to the report, the global data center industry was estimated at $187.35 billion in 2020, and is anticipated to hit $517.17 billion by 2030, registering a CAGR of 10.5% from 2021 to 2030.

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Drivers, restraints, and opportunities-

Rise in penetration of high-end cloud computing in enterprises and increase in investment in data center applications across the globe drive the growth of the global data center market. On the other hand, surge in concerns related to data privacy paired with growing demand for managed services impede the growth to some extent. However, increase in penetration of Internet of Things and hybrid & multi cloud architecture solutions are expected to pave the way for lucrative opportunities in the industry.

Impact of COVID-19 on Data Center Market

• Surge in demand from cloud computing network solutions, during the pandemic, impacted the global data center market negatively.
• However, increase in dependency on data center across healthcare, government, and BFSI sectors has driven the market positively, thereby providing the market with a mixed impact.

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The solution segment to dominate by 2030-

Based on component, 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 to 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 in data center technology.

The hyperscale segment to maintain the dominant share-

Based on 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 surge in demand for energy-efficient and cost-effective data interruptions 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. 

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North America garnered the major share in 2020-

Based on region, the market across North America dominated the market with major share in 2020, accounting for nearly two-fifths of the global data center market, due to the presence of a large number of data centers across the province. On the other hand, the market across Asia-Pacific is expected to witness the fastest CAGR of 14.7% from 2021 to 2030. This is owing to increasing volumes of data center traffic in countries, such as India, Australia, and China.

Key players in the industry-        

• Amazon.com Inc.
• SAP SE
• Digital Realty
• Equinix Inc.
• Hewlett Packard Enterprise
• IBM Corporation
• Oracle,Microsoft
• Alphabet Inc.
• NTT Communication Corporation

Official Press Release: https://www.alliedmarketresearch.com/press-release/data-center-market.html

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