The emergence of 5G IoT technology has totally transformed the design and deployment of data centers in the last two decades.
The global data center market was expected to register an impressive growth rate of 7.5% across the forecast period from 2022 to 2032. The market garnered a valuation of US$ 101.79 Billion in 2022 and is expected to accumulate a market value of US$ 209.8 Billion by 2032.
According to the historic period ranging from 2017 to 2021, the global data center market registered a healthy CAGR of 5.5%. Owing to the rising adoption of small and mid-scale data centers has fueled the growth across several sectors. The growth of the data center market is attributed to the exponential rise in data consumption and data generation by various organizations all over the world.
Countries all over the world reported massive data demand during the pandemic which elevated the importance of digital technology and data centers. Attributing to these factors, the data center demand is anticipated to increase with a 7.5% CAGR throughout the 2022-2032 assessment period.
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Key Takeaways
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Competitive Landscape
Key market players in the data center market are focusing on multiple expansion strategies in order to deepen their penetration all over the lucrative markets. These strategies comprise product launches, collaborations with key players, partnerships, acquisitions, and the strengthening of regional and global distribution networks.
IBM Corporation, Cisco System, Inc., HPE, Dell Technologies, Hitachi Ltd, NTT Communications, Schneider Electric, Comarch SA, ABB, Huawei Technologies Co., Ltd.
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The U.S. reported a year-on-year growth until 2020 of over 2.7% in order to reach a valuation of US$ 32.15 Billion. The U.S. is known as the dominant market owing to the increased data shipment due to the rising popularity of moving localized data center activity to colocation or cloud facilities. In addition to that, the market is likely to experience a rise in edge data center computing to deliver services with low latency and high efficiency across the country.
The U.K. is considered a lucrative market for colocation services as it comprises 250 operational colocation data centers. The rising demand for data center services from business and consumer end users is driving investment in the UK data center market. The U.K. data center market is estimated to reach a valuation of 7,379.0 Million by the end of 2032 by registering a CAGR of 10%.
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Key Segments Profiled In The Data Center Market Industry Survey
Data Center by Component:
Data Center by Size:
Data Center Market by Industry:
Data Center by Region:
Future Market Insights, Inc. (ESOMAR certified, Stevie Award - recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market.
Jul 10, 2023