According to a new market research report issued by Credence Research, the global mega data center market is set to grow by 5.1% over the forecast period from 2019 to 2027, starting from US$ 18.95 billion in 2018.

Market Insights
The global mega data centre market is strongly driven by an increasing inclination to digitize and an increasing amount of data due to growing digital demand. As the industrial sector is experiencing a technological boost across the globe, the adoption of various advanced tools and techniques is increasing dramatically. Developing businesses generate a large amount of data traffic that needs effective storage and management facilities. Growing enterprises and industrial sectors have generated an increasing need to expand data storage capacities. Mega data centers are widely used to meet this need as they provide high storage capacity, significant bandwidth, and facilitate large-scale data transfer. The adoption of mega data centers is also driven by the need for and cost-benefit consolidation of the data centers.

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In addition, the increasing use of cloud services for data storage is also expected to drive the market for mega data centers during the forecast period. Companies such as Amazon, Microsoft, Google, and many others have vast data storage requirements that focus on mega data centers to meet their storage needs. Although these facilities are efficient and user-friendly, they require a huge amount of investment and approval from government authorities. Thus, high investment and installation costs and regulatory barriers are likely to have a negative impact on market growth. Moreover, the lack of technical support in developing and underdeveloped countries also hinders the rate of adoption of mega data centers in these regions.

Based on end users, the banking and finance industry is expected to hold the maximum market share in the global mega data centers market. As this sector generates the maximum amount of data on a regular basis, they need an efficient data storage facility that can help them manage and process data without problems. Furthermore, the security of the data generated in this sector is of high demand, which means that mega data centers are widely used in this sector. Based on geography, North America dominates the mega data center market by holding the largest market share of almost 40% of the total revenue generated worldwide. Technological innovations and the improvisation of business infrastructure contribute mainly to the high demand for mega data centers in the North American region. As a business hub, this region generates a large amount of data every year, requiring large storage facilities. The majority of companies that dominate the data center market are based in North America and therefore contribute to the high market value of this regional segment.

The market for Mega data centers can be segmented on the basis of solutions and services, end-users and the application industry. The solutions offered by mega data centers include cooling, IT infrastructure, software management, networking, power, security, server, storage, and support infrastructure. System integration, monitoring and professional services are provided to mega data centers. The end-users of these data centers include: businesses, cloud service providers and co-location providers. Mega data centres may be used to meet the storage needs of Banking, Financial Services and Insurance (BFSI), Government, Public, Media and Entertainment, Telecom & IT and others.

Some of the major companies profiled in the report include Cisco Systems Inc., Fujitsu Ltd, Dell Software Inc., Hewlett-Packard Enterprise, Emerson Network Power, EMC Corporation, IBM Corporation, Juniper Networks Inc., Intel Corporation, and Schneider Electric SE among others.

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