MRFR Press Release/- Market Research Future has Published a Half-Cooked Research Report on the Global Data Center Market.
The global data center market is gaining considerable traction at present and scoring a high amount valuation as well. Market Research Future reveals that the global data center market is likely to expand at approximately 12.29%, during the forecast period 2022-2030. The study includes the prime factors, segments as well as regional analysis of the market to get an in-depth knowledge of the market’s growth and its potential to expand in the coming years.
Market Drivers & Trends
Data centers are known to store a large amount of mission-critical data and assist in storage, retrieval, and processing of this data. These are the backbone of the enterprise’s data that runs core applications with the help of essentials such as electrical switches, power distribution units, uninterruptible power supplies, ventilation, and provisions for network connectivity. Due to the abilities, advantages, and features of data centers, the market of it is growing faster by gaining utmost prominence in the assessment period.
The global market for data center is gaining substantial traction due to increasing demand for data storage management and cloud technology, which is striking with the considerable growth rate. The community cloud technology is the latest trend which is gaining immense popularity at present and thus taking the market towards a positive graph of the growth in the coming years. The technology is also to bring many lucrative opportunities in the future which is anticipated to fuel the market by double-digit, as per the study conducted.
On the flip side, the factor such as high initial cost of investment can pose as a hinder towards the path of market growth over the review period.
The global data center market is segmented by the elements of type, density, and vertical.
The segment pf type splits into corporate data centers and web hosting data centers, where the corporate data center segment is anticipated to grab the significant share of the market owing to the swelling demand for data storage management by many large enterprises.
In terms of the density, the market is segmented into low, medium, high, and extreme.
In terms of vertical segment, it includes banking & financial services, telecom and IT, government, healthcare, and many more.
The global data center market, as per the study, has been studied in Asia Pacific, North America, Europe, and Rest of the World.
Among these, the North American region has the largest share of the global market, along with Europe, and Asia Pacific regions. The U.S. and Canada are the foremost in the North American market owing to the rising technological enhancements and growing popularity of community cloud technology. On the other hand, the region encompasses a well-established infrastructure, which allows faster implementation of advanced technologies. Also, the mounting investment in the data centers in the U.S. is one more significant factor forcing the data center market to grow in the region.
In the Asia Pacific, the market is also observed to be lucrative with the presence of some of the most popular businesses such as IBM Corporation that mainly focuses in data center outsourcing, middleware, storage, and networking services. Even, companies such as Hitachi Ltd., Cisco System, Inc., Hewlett-Packard Inc. also focus on building optimized operation for data center infrastructures.
Technology titans like Digital Realty Trust, Inc. IBM Corporation, Hitachi Ltd., Cisco System, Inc., Hewlett-Packard Inc., EMC Corporation, and CyrusOne are noted as the major players active in the global data center market. Among which, Digital Realty Trust, Inc. is one of the leading vendors of the data center market as it owns a range of data center solutions such as Electrical and Cooling systems, data center cages, and suites.