Data center market to exceed US $ 279 billion as demand for new green data centers increases
NEW YORK, November 29, 2021 / PRNewswire / – Fact.MR – A supplier of market research and competitive intelligence: According to the latest report from Fact.MR, the global data center market is expected to total 77 billion US dollars in 2021. Growing demand for new data centers in the IT and Telecommunications and Banking, Finance, Services and Investment (BFSI) industries is driving the growth of the market.
With the increasing adoption of Artificial Intelligence (AI) and Internet of Things (IoT) for project management and security implementation in BFSI and IT industries, sales are expected to increase. Due to this, the data center market is expected to reach $ 279 billion by 2031.
Development of hyper-scale and the advent of green data centers in emerging economies such as India, Japan, and China stimulates the market. Since these green data centers run on energy efficient technologies and do not contain outdated systems, governments across India and China provide significant funding for robust development.
For example, according to the Indian Brand Equity Foundation, in September 2021, the Indian government announced the construction of a cyber lab for the “Online Capacity Building Program in Criminal Investigation, Cyber ââLaw and Digital Forensics” to enhance cybersecurity capacity.
In addition, according to the National Agency for the Promotion and Facilitation of Investments, India is one of the most privileged markets for the establishment of Global Capability Centers (GCC), employing more than one million professionals. In 2020, the data center industry attracted investments of over US $ 396 million in India, and per capita data consumption is expected to reach 25 GB / month by 2025.
Such a series of developments in emerging economies is expected to drive the growth of the data center market. In response to this, the global data center market is expected to grow at over 13.8% CAGR during the forecast period of 2021 and 2031, Fact.MR estimates.
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In terms of type, the emerging data center segment is expected to dominate the market, overtaking US $ 200 billion by 2031. Segment growth is driven by increasing demand for large-scale data centers, the advent of green data centers across the East and South Asia, and the need for energy efficient technologies.
“With the growing development of digital infrastructure and the growing demand for the development of green data centers equipped with cutting-edge energy efficiency technologies in India and China, the major players operating in the data center market are likely to generate growth opportunities in the East and South Asia, “ says a Fact.MR analyst.
Key takeaways from Data center Market analysis
- In terms of type of consultancy, network design and network analysis are expected to account for more than 25% and 13% of the total market share, respectively.
- On the basis of applications, the healthcare segment is expected to be the second largest segment of the data center market, holding 15.3% market share
- With the growing development of green data centers across India, the South Asia & Oceania Data Center Market Expected to Grow at 15.4% CAGR by 2031
- The US data center market is expected to spearhead growth through North America, exceeding US $ 16.7 billion in 2021
- Japan is expected to become the most lucrative market in East Asia, with sales forecast to reach 12% CAGR by the end of 2031.
- The growing trend towards virtualization and the need for a high efficiency quotient in the security and deployment of data and information will increase the demand for data centers
- The increasing adoption of advanced technologies such as AI and IoT and the increasing digitization in data centers will drive demand in the healthcare and government sectors.
- The high start-up and maintenance costs associated with the development of digital and green data centers are likely to hamper the growth of the data center market.
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According to Fact.MR, the top five players in the global data center market are expected to account for over 35-40% of the market share in 2021.
The major players operating in the data center market are focusing on collaboration, mergers and acquisitions to gain competitive advantage in the industry. They also collaborate with the government of the East and South Asia harness the potential of emerging markets such as India, China, and Japan, to increase their sales.
- In November 2021, Microsoft Corp., has partnered with the Belgian Prime Minister Alexandre De Croo, to announce the launch of Digital AmBEtion, a global, multi-year investment plan designed to accelerate the digital transformation of Belgium public and private sectors.
- In March 2021, another major player, Princeton Digital Group, announced the launch of a new data center in Mumbai, India. The company is based in Singapore and aims to start a large scale pannational data center provider within the next 3 years.
- In April 2021, Microsoft has announced plans to expand the presence of its Microsoft Azure data center to 10 new countries.
Some of the major market players presented by Fact.MR are:
- IBM Company
- Google LLC
- Equinix, Inc.
- AT&T Inc.
- Hewlett Packard Enterprise Co
- Honeywell International Inc.
More valuable information on Data center Marlet
A recently released report by Fact.MR provides a detailed analysis of the global data center market, analyzing forecast statistics between 2021 and 2031. The study reveals growth projections in the data center market with detailed segmentation:
- New data centers
- Internal data centers
- Service provider data centers
- Reconstruction of the data center
- IT & Telecom
- Health care
- Network design
- Network design and planning
- Security advice
- Network analysis
- Comparative analysis
- Needs assessment
- Operational assessment
- Process improvement
- Project management
- Test and debug
- Custom software development
- Security implementation
- Change management
- System configuration
- Training and site preparation
- North America
- Latin America
- East Asia
- South Asia & Oceania
- Middle East & Africa
Key Questions Answered In The Data Center Market Report
- The market research also highlights the expected sales growth of the data center market between 2021 and 2031.
- Report provides insight into data center demand outlook for 2021-2031
- Analyzing the market share of data centers of key companies in the industry and covering strategies such as mergers and acquisitions, collaborations or partnerships, etc.
- Data Center Market Analysis identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluating the current market size and forecast and technological advancements within industry
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