Data Center Market Highlights:
The upswing in data storage management is estimated to power the growth of the data center market 2020. The ICT industry reports are produced by Market Research Future, which highlights market options for expansion. A CAGR of 11% is expected to guide the market development in the forecast period.
Then influence of cloud technology is projected to motivate the expansion of the data centre industry in the coming period. The demand for data center from the corporate sector is especially projected to reshape the development of the Data Centre Industry in eh forecast period.
The demand for data centers is on the rise during the national lockdown as professionals are now working remotely, and the use of technologies has now gone up. Thus, data centers are playing a critical and vital role in keeping all the businesses functional during this pandemic. The organizations’ work style is now evolving because of the need for ensuring increased productivity via cloud-based solutions and services. The companies are shifting towards digital infrastructure in order to save physical infrastructural costs, maximize employee efficiency, and increase output. The growing usage of cloud services and accelerated digitization have led to increased data traffic, which has further impacted the data center market. As per MRFR analysis, during this outbreak, an increase of more than 35% has been witnessed in data center capacity usage, which is likely to grow further in the coming months. This demand will continue to grow because the work pattern is highly data center driven. It has been noticed that sectors including BFSI, retail, IT & Telecom, E-commerce, entertainment, and OTT platforms, in particular, are generating more data traffic and hence resulting in the rapid growth of the data center market.
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The upgrades in production methods are estimated to transform the potential of the market in the forecast period. The balance in demand and supply in the market will prove as an encouraging growth factor in the forecast period. The market is expected to record a stable growth rate in the coming years. The market competitors are expected to play a key role in the development of the global market. The development of adequate sources of raw material is predicted to further transform the market in the upcoming period. The availability of strong government support and the presence of encouraging policies are expected to enliven the growth prospects in the approaching period.
The incidence of options that can be favorably capitalized on are aiding the market players in improving their overall position in the market. The competition in the market is manageable which is inducing the entry of new players in the global market.
The top companies in the data center market are IBM Corporation (U.S), Hitachi Ltd (Japan), Hewlett-Packard Inc. (U.S), Cisco System, Inc. (U.S), Digital Realty Trust, Inc. (U.S), EMC Corporation(U.S), Global Switch (U.K), DuPont Fabros Technology(U.S), CyrusOne (U.S), and Telehouse (U.K).
The segmental insights into the data center market are segmented on the basis of density, type, region and vertical.
• On the basis of type, the data center market is divided into web hosting data centers and corporate data centers.
• On the basis of density, the data center market is segmented into medium, low, high, and extreme. The vertical-based segmentation of the data center market includes government, telecom and IT, banking & financial services, healthcare, and others.
• Based on the region, the data center market is segmented into North America, Europe, Asia Pacific, and Rest of the regions.
Detailed Regional Analysis:
The regional scrutiny of the data center market covers regions such as North America, Europe, Asia Pacific, and Rest of the regions. The North American region is anticipated to be responsible for the principal share of the market, while the Asia Pacific region is expected to develop at the top rate for the duration of the forecast. As compared to the other regions, the Asia Pacific region is expected to observe a noteworthy expansion throughout the forecast period.
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