Explore 3 key game changing factors for Nigeria's $280 Mn Data Center Industry: Ken Research
GURUGRAM, India, Oct. 10, 2023 /PRNewswire/ -- Nigeria data center market is expected to generate more than USD ~280 Mn by 2027 owing to the investments happening in hyperscale and co-location services and increasing internet penetration: Ken Research
Ecosystem of Nigeria Data Center Market
The Nigeria Data Center industry is consolidated with top players holding more than 70% market share. The players compete with each other on the basis of number of data centers, IT load, gross floor area, total white space, number of racks, geographical presence, etc.
Key Market Findings:
- Nigeria is promoting a fully digital economy by 2030 through the National Digital Economy Policy and Strategy (NDEPS 2020-2030).
- The growing fintech and startup ecosystem needs dynamic data centers to survive. So far, many of these companies host their data offshore, as reliability and scalability concerns have forced companies to look elsewhere.
- However, as the attention of international data center operators shifts to the country, the sector will become more robust and reliant on local hosting.
Interested to Know More about this Report, Request a Free Sample Report
Launch of 5G: The growth of the data center market in Nigeria is owing to the launch of 5G. E-commerce platforms and fintech (financial technology) will greatly benefit from 5G networks. Launch of 5G will strengthen the digital economy in the nation and hereby accelerate growth in data center market. The launch of 5G technology in Nigeria is poised to catalyze substantial growth in the data center market. With its remarkable network speed, low latency, and support for IoT and edge computing, 5G will enable faster and more efficient data processing and transmission.
This boost in connectivity and data processing capabilities is expected to greatly benefit industries like e-commerce and fintech, enhancing the online shopping experience, expediting financial transactions, and supporting the growth of the digital economy. As businesses in these sectors expand their operations and adopt IoT solutions, the demand for scalable and reliable data center services will surge, making data centers a critical infrastructure component in Nigeria's evolving digital landscape.
Visit this Link: - Request for custom report
Nigeria Data Protection Regulation (NDPR): NDPR is a growth driver of data localization initiatives and the increasing development of data centers in the country leading to increased local data storage and computing requirements. Future data center demand, especially from a colocation perspective, will come from sectors such as cloud and large technology companies expanding their operations in West Africa.
Increase Internet Penetration: Improvement in network connectivity, government support, and rapid growth in the adoption of big data, and IoT services have been strong enablers for the growth of the industry in Nigeria. Internet penetration in Nigeria is increasing year over year, which will thereby accelerate data center market in Nigeria.
Analysts at Ken Research in their latest publication "Nigeria Data Center Market Outlook to 2027" observed that the Nigeria data center market is expected to showcase considerable growth in the coming five years. In the upcoming years, it is predicted to expand more rapidly due to increased internet penetration and the launch of 5G. The Nigeria Data Center Market is expected to grow at robust CAGR over the forecasted period 2022 -2027.
Market Taxonomy
By Vertical
Hyper Scale DC
Co-location DC
Managed DC
Request free 30 minutes analyst call
By Type of Co-location
Wholesale Co-location
Retail Co-location
By End User
Telecom and IT
BFSI
Government
E-Commerce
Others
For More Insights On Market Intelligence, Refer To The Link Below: –
Related Reports by Ken Research: –
According to Ken Research estimates, the US Data Center Market grew at a robust rate from 2017-2022 & is forecasted to grow steadily from 2022-2027 driven by rising technological implementation, government schemes such as green energy integration & entry of new players.
According to Ken Research estimates, the Africa Data Center and Cloud Service Market which grew at a robust rate from 2017-2022 & is forecasted to grow steadily from 2022-2027 driven by rising technological implementation, government schemes such as green energy integration & entry of new players.
According to Ken Research estimates, the Thailand Data Center and Cloud Services Market grew from approximately USD 440 Mn and USD 445 Mn respectively in 2017 to about USD 550 Mn and USD 1,390 Mn respectively in 2022. The data centre and cloud services market is forecasted to grow further into USD 840 and USD 3600 Mn respectively by 2027, owing to the new government policies, Major investments, digitization, high-density demand and tech-savvy population.
According to Ken Research estimates, the Philippines Data Center Market – which grew from approximately USD ~0.2 Bn in 2018 to approximately USD ~0.3 Bn in 2022 – is forecasted to grow further into USD ~0.6 Bn opportunity by 2027F, owing to the new government policies, rapid digitalization and cloud adoption.
Follow Us –
LinkedIn | Instagram | Facebook | Twitter | YouTube
Contact Us:-
Ken Research Private Limited
Ankur Gupta, Director Strategy and Growth
[email protected]
+91-9015378249
Logo: https://mma.prnewswire.com/media/1954972/3782349/Ken_Research_Logo.jpg
SOURCE Ken Research
WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?
Newsrooms &
Influencers
Digital Media
Outlets
Journalists
Opted In
Share this article