Data Center Market to Surpass $343.6 Billion Revenue by 2030, says P&S Intelligence
NEW YORK, April 21, 2022 /PRNewswire/ -- The data center market size is expected to increase at a CAGR of 5.1%, to $343.6 billion by 2030 from an estimated $220.0 billion in 2021, according to the market research report published by P&S Intelligence. The growth of the market is driven by the exponential increase in the volume of data, on account of the rising usage of mobile, analytics, social, and cloud services.
Key players offering hardware, software, and construction services for the establishment of such facilities are Oracle Corporation, NTT Communications Corporation, Microsoft Corporation, Hewlett Packard Enterprise, Equinix Inc., Amazon.Com Inc., IBM Corporation, and Alphabet Inc.
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Key Findings of Data Center Market Report
- The U.K. government announced proposals in July 2021 to encourage its technology industry and protect customers, by boosting competition in the digital sector. Therefore, the role played by the government is one of the major drivers for the market advance as it will result in the establishment of data storage and management facilities.
- Similarly, in February 2021, for wider and faster internet connectivity, the government of Malaysia announced plans to spend more than RM 56 billion on infrastructure. The aim is to develop the country's digital economy, according to its 10-year plan.
- In 2021, the North American data center market was the largest, holding over 40% of the global share. There are over 2,600 data centers in the U.S., and many of them are located in northern California, where IT firms such as Uber, Twitter, Yelp, Google, and Facebook are headquartered.
- In April 2022, PHISON Electronics Corp. and Seagate Technology Holdings plc declared plans to widen their solid-state drive (SSD) portfolio, to aid data centers in decreasing their total cost of ownership (TCO).
- In 2020, data creation reached about 64.2 zettabytes, which was about 314% more than in 2015. Experts expect that in 2025, about 10 times more data will be created compared to 2017. Additionally, globally, approximately 2.5 quintillion bytes of data are produced per day, which creates the need for ample storage space.
- IT infrastructure is dominating the market because it includes storage, network, and server components, which are essential to the functioning of such spaces. This infrastructure bifurcation will further advance in the near future with around 5% CAGR.
Browse detailed report on Data Center Market Size, Share, Top Manufactures, Regional Forecast Analysis 2030
In addition, in the coming years, it is predicted that the IT and telecom sector will dominate the global data center market. The fast adoption of new technologies, for instance, the internet of things (IoT), artificial intelligence (AI), and cloud computing, is leading to huge volumes of data creation. Since not everyone has ample space on their premises to store it, they are using the cloud storage provided by data management facilities.
Moreover, the pandemic has resulted in a strong rise in the investments and initiatives in the data center market globally. As a result, the number of such facilities grew worldwide during the COVID-19 pandemic. Moreover, the usage of cloud services by government organizations and of contactless payments and online learning by the populace provided the market a boost.
Data Center Market Segmentation Analysis
By Infrastructure Type
- IT Infrastructure
- IT infrastructure
- Server
- Storage
- Network
- Electrical infrastructure
- UPS systems
- Generators
- Transfer switches & switchgear
- PDUs
- Others
- Mechanical infrastructure
- Cooling systems
- By system type
- CRAC & CRAH units
- Chiller units
- Cooling towers, condensers, & dry coolers
- Economizers & evaporative coolers
- Others
- By cooling technique
- Air-based
- Liquid-based
- Racks
- Others
- General construction
- Core & shell development
- Installation & commissioning
- Engineering & building design
- Fire detection & suppression
- Physical security
- DCIM/BMS solutions
- Support infrastructure
By End User
- BFSI
- IT and Telecom
- Healthcare
- Government and Defense
- Others
By Region
- North America
- U.S.
- Canada
- Europe
- Germany
- France
- U.K.
- Netherlands
- Ireland
- Switzerland
- Italy
- Spain
- Belgium
- Luxembourg
- Portugal
- Denmark
- Norway
- Sweden
- Finland
- Iceland
- Poland
- Austria
- Asia-Pacific
- China
- Australia
- India
- Japan
- South Korea
- New Zealand
- Taiwan
- Latin America
- Brazil
- Mexico
- Chile
- Colombia
- Middle East and Africa
- U.A.E.
- Saudi Arabia
- Turkey
- Israel
- Oman
- Qatar
- Kuwait
- Jordan
- Bahrain
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About P&S Intelligence
P&S Intelligence is a provider of market research and consulting services catering to the market information needs of burgeoning industries across the world. Providing the plinth of market intelligence, P&S as an enterprising research and consulting company, believes in providing thorough landscape analyses on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness.
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Prajneesh Kumar
P&S Intelligence
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