Data Center Market to Garner US$ 279 billion by 2032: Projects Fact.MR

- New Data Centers to Incur US$ 200 Bn of the Data Center Market Value

- The latest study published by Fact.MR on the data center market provides insights into factors influencing change in consumer behavior and consumption patterns along with their impact on the sales. It highlights crucial insights into factors driving demand outlook across various sources on the basis of type, application, consulting and integration across seven major regions

News provided by

Fact.MR

Mar 02, 2022, 11:30 ET

NEW YORK, March 2, 2022 /PRNewswire/ -- In 2022, the global data center market is anticipated to be worth roughly US$ 77 billion. Data center revenue is expected to grow at a high CAGR of 13.8% to reach US$ 279 billion by 2032.

Data centers have benefited greatly from the widespread adoption of the internet of things and cloud computing. Data centers have progressed impressively in both developed and emerging countries, with firms investing in new data storage and deployment facilities. Connected systems have fueled industry expansion and provided several prospects for data center enterprises and knowledge. Over the forecast period of 2022-2032, this would result in a 3.6x increase in market size.

Given the growing demand for cost-effective and energy-saving data centers, as well as increased efficiency and sustainability, the idea of green data centers has gained pace. Data centers are likely to see considerable growth opportunities throughout mature and emerging regions, owing to digitization in every industry. Market participants are capitalizing on the digitization megatrend. Market leaders' primary goal is to enrich their services through value addition at each node of their offers.

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On the back of increased company investments and the availability of improved IT infrastructure, the North American area will maintain its supremacy in the data center architectural space. In terms of both absorption and construction, the region has seen an increase in propagation in the United States.

According to the Economic Report, the San Francisco Bay Area has surpassed Washington, DC, and Dallas as the third-largest data center business in the United States. Around 120 data centers and 335 service providers with nine network fabrics are located in the Bay Area.

Attributes	Details
Market Size Value in 2022	US$ 77 Bn
Project Market Forecast Value in 2032	US$ 279 Bn
Global Growth Rate (2022-2032)	13.8%

As countries in the Middle East and Africa (MEA) strive to change their economies, technology is likely to play a key role, with cloud services at the forefront of this shift. Companies are also contemplating investments in MEA in order to gain a large piece of the region's cloud computing market.

For example, Microsoft Corporation intends to enter Middle Eastern markets such as Abu Dhabi and Dubai in order to establish cloud data centers there.

"Mounting cloud-based services has boosted development of digital infrastructure, thereby accelerating the need for new data centers across regions," says a Fact.MR analyst.

Key Takeaways:

By consulting, network design is predicted to have a 25% market share in data centers, according to consultancy.
By type, new data centers are estimated to generate a market value of US$ 200 billion.
The data center sector is predicted to have a market share of almost 35% in North America.
The data center industry is estimated to generate a market value of US$ 11 billion in MEA.
The top four countries driving data center demand are the United States, Japan, China, and India.

Key Drivers:

Growing trend of virtualization and need for high efficiency quotient regarding data and information security and deployment will increase the demand for data centers
Increasing adoption of advanced technologies such as AI and IoT and rising digitization in data centers will drive the demand across healthcare and government sectors.

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Competitive Landscape

Major corporations have extensive customer networks all around the world. Market leaders are IT behemoths with enormous finances, allowing them to invest extensively in research and development. Furthermore, these firms provide a wide range of services that are tailored to the needs of individual customers.

Market players use agreements and contracts, collaborations, and new product development as growth tactics to maintain their market position.

In 2019, Qualcomm Technologies, Inc. released Cloud AI 100, an AI-based chip family. The ASIC family is available in a number of thermal designs and form factors to suit a variety of applications. This newly released chip has been enhanced with improved AI functions to improve device performance.

Some of the leading players in the market profiled by Fact.MR are:

IBM Corporation
Google LLC
Equinix, Inc.
AT&T Inc.
Apple Inc.
Cisco Systems Inc.

More Valuable Insights on Data Center Market

A recently published report by Fact.MR provides a detailed analysis on the global data center market, analyzing forecast statistics between 2022 and 2032. The study reveals growth projections in data center market with detailed segmentation:

By Type :

New Data Centers

Internal Data Centers
Service Provider Data Centers

Data Center Rebuild

By Application :

Data Centers for IT & Telecom
Data Centers for BFSI
Data Centers for Governments
Data Centers for Healthcare
Others

By Consulting :

Network Design
Network Design & Planning
Security Consulting
Network Analysis
Benchmarking
Needs Assessment
Operation Assessment
Process Improvement

By Integration :

Project Management
Installation
Test & Debug
Custom Software Development
Security Implementation
Change Management
System Configuration
Training & Site Preparation

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Key Questions Covered in the Data Center Market Report

The market survey also highlights projected sales growth of the data center market between 2022 and 2032.
The report offers insight into data center demand outlook for 2022-2032.
Data center market share analysis of the key companies within the industry and coverage of strategies such as mergers & acquisitions, collaborations or partnerships, and others
Data center market analysis identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry

Explore Fact.MR's Coverage on the Technology Domain –

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Data Collection and Labeling Market Forecast - The wide range of sectors that use data collection and labelling creates a strong demand for data collection and labelling products and services. Smart device penetration in developing countries such as India, Indonesia, and China offers promising data collection and labelling opportunities.

Data as a Service (DaaS) Market Scope - The Data as a Service market is fueled by the fact that it is one of the most cost-effective and agile services for businesses that are utilized to provide amazing services to their consumers. Due to its application in offering data-driven solutions, demand for data as a service is likely to grow significantly.

Data Extraction Software Market Analysis - The trend towards artificial intelligence and machine learning technologies, as well as strong demand for superior business intelligence tools, are the key reasons driving the growth of the data extraction software market.

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SOURCE Fact.MR