Data Center Market - By Type (Corporate data centers, Web hosting data centers), by Density (Low, Medium, High, Extreme), and by Verticals (Banking & Financial Services, Telecom & IT, Government, Healthcare) – Industry Forecast 2027

ID: VPR/ICT/1008 Publishing Year: September 2021 Pages: 140 Format:   


Data Center Market Overview:

The Data Center Market is projected to grow from USD 42 billion in 2020 to reach USD 78 billion by 2027; it is expected to grow at a CAGR of 9.2% from 2020 to 2027.

The demand to modernise the current communication network has grown as data traffic has increased, prompting carriers to invest heavily in 5G testing and launch. The Data Center's existing network infrastructure would be improved by implementing 5G technology. As a result of the increased adoption of multi-cloud solutions and network upgrades to accommodate 5G, Data Center Market Demand is expected to rise over the projection period.

Edge computing is a network designs that stores and processes data near to its source. Because the data is processed close to the client computer, latency is reduced and server responsiveness is improved. SMEs were the first to introduce edge computing. Nonetheless, due to the growing need for effective and secure data, it is currently being implemented by huge corporations. The demand for advanced edge platforms in technology has expanded as the information generation has increased. The rise in edge computing adoption will fuel demand for edge data centres, propelling the broader sector forward.

Key Players:

Some of the prominent players in the Data Center Market: Digital Realty Trust, Inc. (U.S), IBM Corporation (U.S), Hitachi Ltd (Japan), Cisco System, Inc. (U.S), Hewlett-Packard Inc. (U.S), EMC Corporation(U.S), CyrusOne (U.S), Switch (U.K), DuPont Fabros Technology(U.S) and Telehouse (U.K).

Covid-19 Impact:

Data Centre providers have placed their construction projects on hold in order to serve people who work from home and children in virtual classes. By expanding network capacity, Data Centre workers ensure that consumers have sufficient connectivity. Equinix, one of the largest Data Centre operators, has restricted vendor access to areas across France, Spain, Italy, and Germany, allowing only critical and needed work to be done. However, the corporation has not decreased in areas of the United States such as New York and California, where COVID-19 has wreaked havoc, making these two regions some of the world's largest Data Center Market.

Market Drivers:

The Data Centre Industry is being propelled forward by rising demand for data storage management and cloud technology. However, over the review period, the market's growth may be hampered by high initial investment costs. The growing popularity of community cloud technology is projected to open up significant industry prospects.

Market Segmentation:

The Worldwide Data Centre Market is broken down into three categories: Type, Density, and Vertical. The Data Center Market is divided into two types: corporate Data Centres and web hosting Data Centres. The Data Center Market is divided into four categories based on Density: low, medium, high, and extreme. Banking and financial services, telecommunications and information technology, government, healthcare, and other industries make up the Vertical Segment.

Regional Analysis:

North America is predicted to lead the Data Center Market due to significant technological improvements in the region. The Data Centres Market in this area may also be fueled by rising demand for mobile and data analytics from various organisations, fast growing technologies, and expanding cloud use. Asia Pacific is another important Region in the Data Centre Market. The Data Centre Market in this region is expected to grow as a result of rapid urbanisation and industrialization.

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