ROCKVILLE, Md., Feb. 24 2022 (GLOBE NEWSWIRE) — Fact.MR reports that global big data market sales are expected to exceed US$279 billion by registering a CAGR of 14.3% during the forecast period 2022-2032. Governments of all countries including China, India, US, UK and others are increasing investment in digital infrastructure to develop robust data centers. Public-private partnerships are driving the growth of digital infrastructure at a much faster rate. For example, the UK government has announced over US$1 billion for the development of digital infrastructure to become a digital hub. Data centers are widely deployed in the IT & Telecom and BFSI industries due to their high-end data backup and security capabilities. Overall, the global data center market is expected to grow 3.6 times over the decade.
Historically, from 2017 to 2021, big data sales exceeded US$77 billion by the end of the aforementioned period. Although the outbreak of the COVID-19 pandemic has disrupted the stream flow chain for various industries, it has paved the way for the technology. As working from home has become the new norm, the demand for work administration and management has increased. Thus, big data sales are expected to grow by leaps and bounds over the next review period.
The green data center trend has grown in popularity, given the growing need for energy savings and cost efficiency, as well as increased efficiency and sustainability. Largely driven by digitalization across all sectors, data centers are expected to see potential growth prospects in mature and emerging markets. Market players are taking advantage of the megatrend of digitization. The main strategy adopted by market leaders is to enrich their services with added value at each node of their offers.
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This newly released and insightful report sheds light on the IT Data Center Market insights, key dynamics, their impact on the overall value chain from vendors to end users and the IT Data Center Market growth.
As data centers move towards supporting more digital strategies, their business will depend on the capabilities of the IT ecosystem to support new initiatives. The need for a more decentralized approach, to address the need for digital business infrastructure, has been recognized by organizations embarking on the digital business journey. With the rapid increase in speed and data volume, inefficiency is increasing when it comes to streaming information to the data center for processing.
Data Center Market: Installation and construction activities are spearheading growing new data center construction activities
Revenues from data center installation and construction are expected to remain significantly higher than those from consulting and integration services, although the latter will show a comparatively higher growth rate through 2028. The construction of new data center spaces hit a five-year high. . North American Data Centers, a company that tracks the data center industry in North America, said data center projects with nearly 300 megawatts of capacity are under construction in the region.
The surge in new data center construction activity is supported by high industry inventory over the past five years and reflects increased confidence in space leases by real estate developers in key geographic markets.
New data center revenues are expected to exceed US$104 trillion by the end of 2028.
Although data center rebuilds currently represent a significantly lower share of the data center market, an impressive growth rate, albeit slightly lower than new data center construction, has been predicted for data center rebuilds. data centers in the years to come.
The growth of data center rebuilds is primarily driven by large-scale service providers, which are changing the way computing space is sold and built. In the meantime, data center providers are revamping their build strategies to deliver capacity in bigger chunks faster. The continued shift of enterprise IT workloads from the on-premises data center to purpose-built facilities operated by colocation and cloud platform providers is the “trend behind the trend.”
Data Center Market: Impressive Momentum for Data Center Consulting and Integration
Data center consulting and integration services are expected to see impressive growth given the increasing complexity of network design requirements. This, coupled with the growing need for data centers across a wide range of industry sectors, will continue to bode well for the growth of the data center market in the near future. Data center consulting and integration revenue is expected to show an impressive CAGR of 12.5% through 2028, which is higher than that of installation and construction.
The proliferation of data center end users, coupled with the increase in customization and versatility of relevant network designs, will continue to be a key driver for the growth of the data center market. With data center transformation being one of the top agendas of enterprises, the demand for consulting and integration services is high as enterprises seek expertise to aid in their business strategy, planning, and implementation. “Data center service providers who invest in consulting and integration skills to support their customers’ digital initiatives will continue to enjoy strong compensation for the foreseeable future,” says a principal analyst at Fact. .MR.
The data center market will continue to show strong growth in North America, where the majority market share will continue to be held by the United States. The data center market in Europe will follow that of North America, in terms of revenues; however, Europe’s revenues will grow at a comparatively higher rate than North America’s through 2028.
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Key Segments Covered
- New data centers
- Internal data centers
- Service Provider Data Centers
- Data Center Rebuild
- Data centers for computing and telecommunications
- Data centers for BFSI
- Data Centers for Governments
- Data Centers for Health
- Network design
- Network design and planning
- Security advice
- Network analysis
- Comparative analysis
- Needs assessment
- Exploitation assessment
- Process improvement
- Project management
- Test and debug
- Custom software development
- Security Implementation
- Change management
- System Setup
- Training and site preparation
Large companies have strong customer networks around the world. Market leaders are tech giants with deep pockets, which helps them invest heavily in development. In addition, these players offer diversified services tailored to individual customers.
The growth strategies adopted by market players are agreements and contracts, collaborations and new product developments to withstand their position in the market.
- In 2019, Qualcomm Technologies, Inc. launched a family of AI-based chips named Cloud AI 100. The ASIC family comes in a variety of thermal design points and form factor to create a different use case . This newly launched chip is enhanced with refined AI features to deliver better performance to devices.
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Profiled Key Companies
- IBM Corporation
- Google LLC
- Equinine, Inc.
- AT&T Inc.
- Apple Inc.
- Cisco Systems Inc.
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