Data Center Market , 36% of Growth to Originate from North America, Technavio
NEW YORK, Dec. 15, 2024 /PRNewswire/ -- The global data center market size is estimated to grow by USD 434.8 billion from 2024 to 2028, according to Technavio. The market is estimated to grow at a CAGR of 14.52% during the forecast period.
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Report Attribute | Details |
Base Year | 2023 |
Forecast period | 2024-2028 |
Historic Data for | 2018 - 2022 |
Segments Covered | Component (IT infrastructure, Power management, Mechanical construction, General construction, and Security solutions), End-user (BFSI, Energy, IT, and Others), and Geography (North America, APAC, Europe, South America, and Middle East and Africa)
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Key Companies Covered | 365 Data Centers, Alphabet Inc., Amazon.com Inc., Apple Inc., China Telecom Corp. Ltd., Cisco Systems Inc., CyrusOne LLC, Cyxtera Technologies Inc., Digital Realty Trust Inc., Equinix Inc., Hewlett Packard Enterprise Co., Intel Corp., International Business Machines Corp., KDDI Corp., Microsoft Corp., Nippon Telegraph and Telephone Corp., Oracle Corp., Salesforce Inc., SAP SE, and Verizon Communications Inc.
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Regions Covered | North America, APAC, Europe, South America, and Middle East and Africa |
Region Outlook
1. North America - North America is estimated to contribute 36%. To the growth of the global market. The Data Center Market report forecasts market growth by revenue at global, regional & country levels from 2017 to 2027. The data center market is experiencing a significant shift towards decentralized infrastructure as businesses seek to minimize On-premises infrastructure costs while maintaining Scalability and Flexibility. Real-time data processing is crucial for industries such as autonomous vehicles, IoT devices, and Smart Cities, necessitating the need for proximity to end-users. Decentralized Data Centers address this requirement, enabling Local special circumstances and Data sovereignty regulations to be met. Macroeconomic factors, including the Digital economy's growth, Internet penetration, and B2B enterprises' increasing reliance on data, are driving this trend. Hardware-related expenses, National statistical offices' storage requirements, and the Level of digitization's Exponential trend smoothing using S-curve functions further the importance of efficient data management. Business leaders must consider factors like cloud technology, data center systems' performance, application requirements, and Storage requirements when managing data center workloads. Additionally, factors like Mobile data use, Internet usage, Cloud data storage, Data security, Backups, Internet bandwidth, and Managed hosting or Colocation are essential considerations for businesses in today's data-driven economy.
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Segmentation Overview
- 1.1 IT infrastructure
- 1.2 Power management
- 1.3 Mechanical construction
- 1.4 General construction
- 1.5 Security solutions
- 2.1 BFSI
- 2.2 Energy
- 2.3 IT
- 2.4 Others
- 3.1 North America
- 3.2 APAC
- 3.3 Europe
- 3.4 South America
- 3.5 Middle East and Africa
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1.1 Fastest growing segment:
The data center market is experiencing significant growth due to increasing digital transformation and cloud adoption. Companies are investing heavily in data centers to support their expanding digital operations. Data centers provide businesses with essential services, including data storage, processing, and connectivity. They enable organizations to manage and analyze large amounts of data efficiently and securely. The market is expected to continue growing as more businesses adopt digital strategies and rely on data centers to power their operations.
Research Analysis
The Data Center market is experiencing significant growth due to the increasing demand for IT infrastructure to support the digitalization of businesses and individuals. Artificial Intelligence and Machine Learning are driving the need for large-scale data processing, while the Internet of Things generates vast amounts of data that require efficient storage and analysis. Cloud computing and edge computing are popular solutions for businesses seeking cost savings, scalability, and flexibility. Real-time data processing is crucial for online retail and e-commerce, making data centers an essential component of their IT infrastructure. Data center systems enable businesses to store, analyze, and manage data center workloads efficiently, ensuring speed and minimizing the risk of lost data. Digitalization is transforming various industries, leading to an increased demand for data centers to support personalized data and real-time insights. Data centers play a vital role in the digital economy, enabling businesses to leverage cloud technology and improve their competitiveness.
Market Overview
The Data Center market is experiencing significant growth due to the increasing adoption of technologies such as Artificial Intelligence (AI) and Machine Learning (ML) in various sectors. The Internet of Things (IoT) and Cloud computing are driving the demand for IT infrastructure, with the Department of Energy promoting Green Data Centers for energy efficiency. Businesses, individuals, and B2B enterprises are leveraging data centers for cost savings, scalability, and flexibility, enabling real-time data processing and reducing latency. Digitalization is transforming industries, from autonomous vehicles to smart cities, leading to an exponential trend in data generation and storage requirements. Decentralized Data Centers and End-users in specialized regions address local circumstances and data sovereignty regulations. Macroeconomic factors, digital economy growth, internet penetration, and the rise of big data and data analytics further fuel the market's expansion. Cloud technology, data center systems, and managed hosting solutions cater to various industries, ensuring data security, backups, and Internet bandwidth. Competitors in the market include colocation, public cloud, and hyper-scale platforms, offering various services such as application performance, storage requirements, mobile data use, and e-commerce solutions.
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Key Topics Covered:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Venodr Landscape
11 Vendor Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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SOURCE Technavio