ID: MRFR/ICT/2585-HCR | February 2021 | Region: Global | 100 pages
The Global Data Center Life Cycle Services Industry is projected to grow at a CAGR of 13% during the forecast period 2021-2030. The market is expected to expand by about USD 300 Billion by the year 2030. The technological advancements in Data Center Life Cycle Services help the business to reduce the influx of data and lessen the immense pressure to manage the crucial data efficiently.
Data Center Life Cycle Services supports the activities related to efficient operations of data such as networking, storage, management, processing, and distributing the data in an organization. There are two main services in the Data Center Life Cycle Services Industry- Services that are provided by the data center and the services which are provided to the data center.
The outbreak of COVID-19 diseases has forced businesses around the world to shift their work on a digital platform. Cloud storage has emerged as a great help for various organizations to manage and store data efficiently. The impositions of lockdown and social distancing were major concerns to maintain the data without any hindrance. In this way, the businesses in data center life cycle serviceshave played a crucial role for the organizations.
The technological advancements in the cloud computing industry are one of the major drivers for the Data Center Life Cycle Services Industry. The data center services offer customized tools for handling the data according to the needs of the customers. Other major factors such as massive demand in the online e-commerce or retail market are fuelling the market growth. Also, the emergence of cloud technology among the data centers has increased its importance.
The cloud-systems are very efficient and it is easily accessible with different types of devices at the same time. This is one of the reasons for the Data Center Life Cycle Services Industry to flourish.
The Global Data Center Life Cycle Services also have some restraints that can affect the market growth in the future. Concerns related to the data privacy of the users are a huge issue. The increase in the requirement for storing the data also increases its expenditure for maintenance. However, the companies are trying to develop more efficient solutions for efficient data center management.
The Data Center Life Cycle Services provides more efficiency for work, easy operations, and management of data. It is also efficient to decrease the extra-human efforts needed for maintaining different types of data. It is expected that hosting and cloud computing will have a substantial share in the global market of Data Center Life Cycle Services Business.
The Data Center Life Cycle Services can increase the risk of cyber-attacks and loss of data. This can emerge as a limitation of the market growth. In this service, the data are not hosted locally, which increases the chance of privacy breach and data leakage.
Cumulative Growth Analysis
It is estimated that the Compound Annual Growth Rate (CAGR) of the Data Center Life Cycle Services Industry will be 15%. With this exponential growth, the market will expand and reach up to USD 7 Billion during the forecast period from 2020-2027. The values which are provided in this report are based upon the present and huge demand for the services in the global market. There are chances that it can decrease or increase depending upon the strata o the market in the forthcoming period.
Value Chain Analysis
The value of the Global Data Center Life Cycle Services Industry will increase in the upcoming years due to the high demand of and technological advancements in the cloud computing industry. In the future years, the development in this market will observe massive improvements along with its value.
The Data Center Life Cycle Services Business is segmented into deployment, services, data center type, component, and vertical.
On the basis of data center type, the Data Center Life Cycle Services Business is further segmented into the enterprise data center, mid-size data center, and large data center.
On basis of services, the Data Center Life Cycle Services Industry is classified into- cloud services, IT Asset Disposition services, Managed Services, Integration Services, Professional Services, and others.
The segment of deployment of the Data Center Life Cycle Services Business is bifurcated into- on-premise and on-cloud.
By the vertical, Data Center Life Cycle Services Business is divided into- Manufacturing, Government, Telecommunication and IT, BFSI, Healthcare, Entertainment and Media, and others.
On the basis of component, the Data Center Life Cycle Services Business segmented into software and hardware.
The Data Center Life Cycle Services Business is segmented into these geographical regions- North America, Latin America, Asia-Pacific, Europe, Middle East, and the African region.
The North American region is expected to have the fastest growth during the forecast period. It is also estimated that it will dominate the global Data Center Life Cycle Services Business in the upcoming period. The rapid increase in technological advancements and developing key players in the developed countries such as the US and Canada.
The Asia-Pacific region is projected to have the fastest growth in the Data Center Life Cycle Services Business during the forecast period. The rising key players in developing countries like India and China are fuelling the market growth,
The European region is expected to have the largest market share after the Americas. The key players are focusing upon the investments in the research and developments. The investments will strengthen their foothold in the Data Center Life Cycle Services Business and generate more revenue in the future years.
The Middle East and the African region will have a slower growth as compared to the other regions. The major reason is the less development is among the key players and slow advancement in technologies.
The support from the government is expected to help the companies in the Data Center Life Cycle Services Business. Also, the various consumer trends are pushing the key players to focus on the demands and start to stabilize their production post-pandemic. It is expected that the key players will take crucial steps to protect their business interests for the future.
The key players try to expand their business through acquisition, mergers, collaborations, joint ventures, new product launches, etc. IBM Corporation (US) is one of the major key players in the Data Center Life Cycle Services Business. In the year 2021, IBM announced its acquisition of Turbonomic which is a software provider for about USD 1.5 Billion.
Here is the list of the key market players-
In the year 2019, Qualcomm Company announced the launch of ‘Cloud AI 100’-the new data center AI interference in its chip developments. The chip products are developed with significant features o Artificial Intelligence for the smooth performance of electronic devices such as smartphones, computers, etc.
The overview of the report is as follows-
The report upon the Global Data Center Life Cycle Services Market gives various information and other important insights. The scope of the report is to give clarity of the market and highlight its strengths. It aims to provide information about the restraints, challenges, and key players in the market.
The Global Data Center Life Cycle Services Marketis segmented on the following basis-
By Data Center Type-
By Geographical Region-
Frequently Asked Questions (FAQ) :
The significant evolution in the data center life cycle services market in North America is accredited to the technical developments and well established infrastructure.
HP (U.S.), Raritan (U.S.) IBM Corporation (U.S.), Schneider Electric (France), Nlyte Software (U.S.), Optimum Path, Inc. (U.S.), Vertiv (U.S.), are the key players involved in the market’s study.
The market will be achieving 13% of CAGR for its growth during the forecast period 2021 and 2030.
component, deployment, data center type, service and vertical are the segments involved in the segmental analysis of the market.
The market will be gaining a valuation of USD 300 Billion by 2030.