Data Center Market to Generate $517.17 Billion by 2030, States the Report by Allied Market Research
A lead analyst at AMR highlighted that the data center market across Asia-Pacific is anticipated to grow at the fastest CAGR during the forecast period.
PORTLAND, OR , UNITED STATES, UNITED STATES, May 25, 2023 /EINPresswire.com/ — Allied Market Research published a research report on the data center market. The findings of the report state that the global market for data center generated $187.35 billion in 2020, and is projected to reach $517.17 billion by 2030, witnessing a CAGR of 10.5% from 2021 to 2030. The report offers valuable information on changing market dynamics, major segments, top investment pockets, and competitive scenarios for market players, investors, shareholders, and new entrants.
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“The global data center market share is expected to witness a considerable growth, owing to an increase in demand for cloud-based solution, especially in emerging economies such as Asia-Pacific and LAMEA.” said Kanhaiya Kathoke, Research Analyst, ICT at Allied Market Research.
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The report provides insights on drivers, restraints and opportunities to help market players in developing growth strategies and capitalizing on opportunities. Increased adoption of high-end cloud computing by enterprises and the rise in investment in data center applications across the globe drive the growth of the global data center market. On the other hand, surge in concerns related to data privacy paired with the rising demand for managed services impede the growth to some extent. However, the increased adoption of the Internet of Things and hybrid & multi-cloud architecture solutions are expected to provide lucrative opportunities for growth in the industry.
The report offers a comprehensive scenario of the impact of the COVID-19 pandemic on the data center market globally. It is helpful for market players, new entrants, and investors to determine strategies as per the current situation and improvise relevant business models for the coming years. The surge in the demand for cloud computing network solutions during the pandemic had a negative impact on the global data center market. However, the rise in data center dependence across the healthcare, government, and BFSI sectors had driven the market positively. Thus, the pandemic had a mixed impact on the market.
The report offers a detailed segmentation of the global data center market based on component, type, enterprise size, end user, and region. These insights are helpful for new as well as existing market players to capitalize on the fastest growing and largest revenue generating segments to accomplish growth in the future.
By component, the solution segment contributed to the major share in 2020, accounting for more than three-fourths of the global data center market. However, the services segment is projected to cite the fastest CAGR of 12.4% throughout the forecast period.
By type, the hyperscale segment held the highest market share in terms of revenue, garnering more than two-fifths of the global data center market. Simultaneously, the edge segment is estimated to exhibit the fastest CAGR of 13.1% throughout the forecast period.
By region, North America accounted for the highest share in 2020, generating nearly two-fifths of the global data center market revenue, and is expected to dominate by 2030. On the other hand, the Asia-Pacific region is expected to witness the fastest CAGR of 14.7% throughout the forecast period.
Leading players in the global data center market analyzed in the report include Equinix Inc., Alphabet Inc., NTT Communication Corporation, SAP SE, Hewlett Packard Enterprise, Oracle, IBM Corporation, Amazon.com Inc., Digital Realty, and Microsoft.
About Allied Market Research:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to offer business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains.
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Allied Analytics LLP
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