Data Center Market to Achieve USD 340.10 Billion by 2030 with a Strong CAGR of 5.3%

According to Next Move Strategy Consulting, the data center market is undergoing a profound transformation, poised to reach an impressive valuation of USD 340.10 billion by 2030, with a robust CAGR of 5.3%. This remarkable growth is indicative of the pivotal role data centers play in supporting the ever-expanding digital ecosystem, driven by the accelerating adoption of cloud services, data-intensive applications, and emerging technologies.

Market Dynamics:

The data center market stands as the backbone of the digital economy, facilitating the storage, processing, and management of vast amounts of data generated daily. Key drivers shaping this market include the proliferation of connected devices, the advent of 5G technology, and the rising demand for real-time data analytics and artificial intelligence.

Key Drivers:

Explosive Growth of Digital Data:

The exponential growth of digital data, fueled by online transactions, social media, and IoT devices, is propelling the demand for robust data center infrastructure. Organizations across industries require scalable and secure data storage solutions to manage and leverage this unprecedented data deluge.

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Cloud Computing Adoption:

The widespread adoption of cloud computing services, both public and private, is a major driver for the Data Center Market. Cloud data centers provide flexible, cost-effective, and scalable solutions for businesses, enabling them to focus on innovation and agility in a rapidly evolving digital landscape.

Edge Computing Emergence:

The rise of edge computing, driven by the need for low-latency processing and improved performance, is reshaping the data center market. Edge data centers, strategically located closer to end-users, enhance the efficiency of applications such as autonomous vehicles, augmented reality, and smart cities.

Challenges:

The data center market faces challenges related to energy consumption, environmental impact, and the need for sustainable practices. Efforts to optimize energy efficiency, adopt renewable energy sources, and implement innovative cooling technologies are imperative to address these challenges and ensure the long-term sustainability of data center operations.

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Future Outlook:

The future of the data center market is characterized by continued innovation in infrastructure design, adoption of advanced technologies such as AI and machine learning, and a focus on sustainability. Modular data center solutions, edge computing deployments, and enhanced security measures will define the next phase of evolution in the data center landscape.

Market Segmentation:

The segmentation of the data center market share is based on several key factors, including component, type, infrastructure, rack unit, enterprise size, density, end-user, and geography. In terms of components, the market is divided into solutions and services. The market's types include colocation, hyperscale, edge, and others. Infrastructure categories comprise information technology (IT), electrical, and mechanical components. Within IT infrastructure, further segmentation includes servers, storage, and network components. Electrical infrastructure is sub-divided into uninterrupted power supply (UPS) systems, generators, transfer switches & switchgear, and professional development units (PDUs). Mechanical infrastructure includes cooling systems, computer room air conditioning (CRAC) & computer room air handler (CRAH) units, chiller units, cooling towers, condensers & dry coolers, and economizers & evaporative coolers. Rack units are classified into below 24U, 24U to 40U, and above 40U. Enterprise size categorization includes large enterprises and small & medium enterprises (SMEs). Density is classified as low, medium, high, and extreme. The end-user segments consist of banking, financial services, and insurance (BFSI), information technology (IT) & telecom, government, energy & utilities, and others. The geographic breakdown encompasses North America, Europe, Asia-Pacific, and RoW.

Regional Dominance:

North America holds the lion share of data center market and is expected to continue its dominance during the forecast period. This is attributed to factors such as increasing adoption of cloud services by enterprises across industries in countries such as the US and Canada to support 5G, expansion by hyper-scalers such as Amazon Web services (AWS) and Google. For instance, in April 2022, Google announced to invest USD 9.5 billion in data centers and offices in the U.S. as the demand for Google cloud services and infrastructure by customers for growing businesses that are engaged in providing digital services.

On the other hand, Asia Pacific is expected to show a steady rise in the data centers market in the countries like China, Singapore, and India among which Singapore being the major contributor with 60% data centers in this region. For instance, according to International Trade Administration, there are more than 70 operational data centers with a capacity of 378MW in Singapore following the rapid growth of artificial intelligence (AI), crypto trading, and others.

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Competitive Landscape:

Various market players operating in the data centers market include Equinix, Digital Realty Trust, China Telecom, NTT GDC, China Unicom, China Mobile, CyrusOne, KDDI Telehouse, GDS, and Global Switch. These market players are adopting various joint venture strategies and planning expansion of business across various regions to maintain their dominance in the data center market. Partnerships and acquisitions are prevalent as businesses seek to enhance their service offerings and geographical presence.

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Contact Us:

Next Move Strategy Consulting
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About Next Move Strategy Consulting:

Next Move Strategy Consulting is an independent and trusted third-platform market intelligence provider committed to delivering high-quality market research reports. We assist multinational companies in gaining a competitive edge and expanding their industry presence by capturing a larger market share. Our research methodology combines primary research, secondary research, data mining, and data analytics to deliver reliable insights.

Over a decade, we have served over 1,000 global customers, including 90% of Fortune 500 companies. Our analysts constantly monitor high-growth markets and uncover hidden opportunities in various sectors. We offer top-quality syndicate and custom research reports across ten different industry verticals, catering to your unique business needs. Our industry-standard delivery solutions, from pre-consultation to after-sales services, ensure an exceptional client experience and support informed strategic decision-making.

This release was published on openPR.