The Report Cloud Data Center Market - Global Drivers, Restraints, Opportunities, Trends, and Forecasts to 2023 gives a detailed analysis on the global market for cloud data center market. The Cloud Data Center market is expected to reach USD 67.5 billion by 2023, growing at a CAGR of around 28.7% during the forecast period. Moreover, there is growing demand from North American companies as the cloud technology will help in storing data and information cost-effectively, increasing the efficiency, agility, and flexibility of the data center. The top players in the global market are Microsoft, AWS, Cisco Systems, IBM, and Google.
Storing data in cloud or cloud storage is growing in relevance and is disrupting the whole storage market. Cloud storage provides invaluable services to various firms like Amazon, Google, Facebook, Dropbox and so on. Several other resources are offered to the user without having to use the hardware. Users can save anything from text to videos on the cloud software. This service provides centralised computation, which is managed through a data center. Many organisations are investing more on cloud storage to help in its growth. Most of these cloud servicers provide these storage facilities in exchange for a nominal fee to the users.
The services offered by the cloud servicers are diversifying and this is propelling the growth of data centers. They offer services like collocation services and as managed collocation services, interconnection, cloud connectivity and managed hosting services. The implementation of these services is likely to improve functioning of facilities across various markets globally. They also ensure regular maintenance of infrastructure and real – time monitoring of power consumption. These will ensure significant cost savings for the companies.
Cloud storage providers use artificial intelligence to manage facilities that ensure reliability, scalability and efficiency of operations. Employment of artificial intelligence will contribute for the increased revenues to the cloud data centers. Many governments and organisations increasingly are investing towards developing digitalised economies by laying fibre cables to improve local and urban connectivity. Thus, the use of 4G LTE technology is another driving factor in the market. The growing relevance of edge computing is another reason of growth of secondary data centers. Further, the use of IoT, big data will also lead to high – performance data centers.
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Global Cloud Data Center Market
Ankur Gupta, Head Marketing & Communications