Data Center Market Scope:
Market Research Future (MRFR) expects the global market for data center to attain a growth rate of approximately 11% from 2017 to 2023, which is the forecast period.
Once a niche business, data centers have quickly become mainstream, driven by the evolving needs of large and small businesses, strong growth of connected devices coupled with the staggering surge in the data volume across the internet. The data center market also stands to benefit from the increasing adoption of multi-cloud as well as the network upgrades to back up 5G. Further, mounting demand for planning and expansion among can also elevate the position of the Data Center Market across the globe.
There has been a hike in adoption of multi-cloud services given their various benefits. Multi-cloud architecture helps prevent downtime or data loss every time there is a localized component failure. It also facilitates security compliances, in addition to meeting with all the workload requirements. These factors have prompted numerous enterprises to make use of multi-cloud services to cater to their business requirements. In addition, considerable investments in testing 5G technology as well as its deployment boosts need to upgrade existing data center network infrastructure. Thus, the surge in adoption of multi-cloud as well as network upgrades will benefit the data center market in the following years.
The massive investments being made in the market are the result of the strong demand for public cloud services coupled with the surge in as-a-service offerings. Rising use of advanced technologies like ML, AI, big data and DL also stimulates market growth.
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Data Center Market Prominent Vendors:
The data center market consists of technology giants like CyrusOne, Hitachi Ltd., Cisco System, Inc., IBM Corporation, EMC Corporation, Digital Realty Trust, Inc., Hewlett-Packard Inc., and others.
Among these, Digital Realty Trust, Inc. happens to be one of the top vendors in the data center market, since the company boasts of a broad range of data center solutions like data center cages, suites and Electrical and Cooling systems.
Data Center Segmentation:
- The worldwide market for data center has been segregated into the primary segments of type, density, and vertical.
- The type segment can be considered for web hosting data centers and corporate data centers. The segment of corporate data center can garner a higher share in the market compared to its counterpart, on account of the accelerated demand for data storage management among large enterprises.
- With regard to density, the market segments are low, medium, high, and extreme.
- In terms of vertical, the segments included in the report are telecom and IT, banking & financial services, healthcare, government, and many more.
Data Center Regional Insight:
The global data center market, based on the extensive study conducted by MRFR experts, can be considered for Asia Pacific (APAC), Europe, North America, and the Rest of the World (RoW).
The data center market in North America is the largest, in terms of share, with the United States (U.S.) and Canada at the front of the said growth. These countries are doing well, on account of the increasing technological enhancements combined with the rising popularity of the community cloud technology. Also, the region is home to a highly-established infrastructure that facilitates the quicker implementation of advanced technologies. The regional market also benefits from the surging investment in the data centers, especially in the U.S. and Canada.
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