ID: MRFR/ICT/3299-HCR | February 2021 | Region: Global | 100 pages
Data Centers refers to virtual or physical infrastructures that are used by enterprises to store a large amount of mission-critical data. The data centers assist in storage, retrieval, and processing of this data. These data centers require multiple backs up supply units, networking connections, and cooling systems for running the enterprise's core applications. The data centers include a number of elements such as electrical switches, power distribution units, uninterruptible power supplies, ventilation, and provisions for network connectivity. Modern data centers make use of management and monitoring software that allows the IT administrators to oversee the equipment and monitor the facilities remotely.
Technology giants such as Digital Realty Trust, Inc. IBM Corporation, Hitachi Ltd., Cisco System, Inc., Hewlett-Packard Inc., EMC Corporation, and CyrusOne are some of the major players in the global data center market. Digital Realty Trust, Inc. is one of the leading vendors of the data center market. It owns a range of data center solutions such as Electrical and Cooling systems, data center cages, and suites. The company focuses on building customized data centers, cages, and suites based on client needs. Whereas, IBM Corporation focuses on data center outsourcing, middleware services, storage services, and networking services. Hitachi Ltd., Cisco System, Inc., Hewlett-Packard Inc. focus on building optimized operation for data center infrastructures.
Increasing demand for data storage management and cloud technology are major factors driving the growth of the global data center market. However, high initial cost of investment may hinder the market growth over the review period. The gaining popularity of the community cloud technology is expected to create lucrative opportunities for the market.
The global data center market has been segmented on the basis of type, density, and vertical. The type segment is classified into corporate data centers and web hosting data centers. The corporate data center segment is expected to hold the major share of the market owing to the increasing demand for data storage management by large enterprises.
The North American region holds the largest share of the global market followed by Europe, and Asia Pacific regions. The U.S. and Canada are dominating the North American market due to rising technological enhancements and increasing popularity community cloud in the region. The region also has a well-established infrastructure, which allows faster implementation of advanced technologies. Additionally, rising investment in the data centers in the U.S. is another major factor driving the growth of data center market in the region.
Global Data Center Market is expected to grow at a CAGR of approximately 11% during the forecast period 2017-2023.
Global Data Center Market
Some of the prominent players in the global data center market: Digital Realty Trust, Inc. (U.S), IBM Corporation (U.S), Hitachi Ltd (Japan), Cisco System, Inc. (U.S), Hewlett-Packard Inc. (U.S), EMC Corporation(U.S), CyrusOne (U.S), Global Switch (U.K), DuPont Fabros Technology(U.S) and Telehouse (U.K).
The global data center market is segmented by type, density, and vertical. Based on the type, the market is segmented into corporate data centers and web hosting data centers. Based on the density, the market is segmented into low, medium, high, and extreme. The vertical segment includes banking & financial services, telecom and IT, government, healthcare, and others.
The global data center market is studied in Asia Pacific, North America, Europe, and Rest of the World. North America is estimated to account for the largest share of the market, whereas Asia Pacific is projected to grow at the fastest rate during the forecast period. The North American market growth is attributed to rising investments in data centers and gaining importance of community cloud systems.
Frequently Asked Questions (FAQ) :
The global data center market is poised to account for a substantial value of revenue by 2024, expanding at a considerable CAGR of 11% over the review period (2017-2023).
The major market players operating in the global data center market include IBM Corporation (U.S), Digital Realty Trust, Inc. (U.S), Hitachi Ltd (Japan), Cisco System, Inc. (the U.S), EMC Corporation(U.S), Hewlett-Packard Inc. (U.S), CyrusOne (U.S), DuPont Fabros Technology(U.S), Global Switch (U.K), and Telehouse (U.K).
The global data center market segmentation is conducted based on the type, density, and vertical. The corporate data centers and web hosting data centers are the types of data centers accessible in the global data centers market. The density segment of the global data center market comprises of low, high, medium, and extreme. The industry verticals where data centers are operative are telecommunications and IT, banking & financial services, healthcare, government, and others.
The regional analysis of the global data center market is conducted in four major regions, including the Asia Pacific, North America, Europe, and the rest of the world (covering the Middle East and Africa, and Latin America).
The North American region in the global data center market is expected to lead the market share over the review period, where the U.S. is the leading contributor. The market is followed closely by the Asia Pacific, with China, India, and Japan account for the most profitable countries for data centers in the Asia Pacific.