Data Center Market to Generate $517.17 Billion by 2030, States the Report by Allied Market Research
October 14, 2021
A lead analyst at AMR highlighted the data center market in Asia-Pacific is anticipated to grow at the fastest CAGR during the forecast period.PORTLAND, PORTLAND, OR, UNITED STATE, October 14, 2021 /EINPresswire.com/ -- Allied Market Research published a research report on the data center market. The findings of the report states 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 scenario for market players, investors, shareholders, and new entrants.
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The report provides detailed insights on drivers, restrains, and opportunities to help the market players in devising several growth strategies. Rise in penetration of high-end cloud computing in enterprises and increase in investment in data center applications across the globe fuel the growth of the global data center market. On the other hand, surge in concerns related to data privacy paired with growing demand for managed services restrain the growth to some extent. However, increase in penetration of Internet of Things and hybrid & multi cloud architecture solutions are anticipated to pave the way for lucrative opportunities in the industry.
The report provides a detailed scenario of the impact of the Covid-19 pandemic on the data center market globally. Surge in demand for cloud computing network solutions, during the pandemic, impacted the global data center market negatively. Nevertheless, increase in dependency on data center across healthcare, government, and BFSI sectors has driven the market positively, thereby providing the market with a mixed impact.
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“The global data center market share is expected to witness a considerable growth, owing to 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.
The report offers 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.
Based on component, the solution segment dominated with the largest share in 2020, holding more than three-fourths of the global data center market. The services segment, on the other hand, is expected to cite the fastest CAGR of 12.4% throughout the forecast period.
Based on solution, the hyperscale segment held the highest market share in terms of revenue, contributing to more than two-fifths of the global data center market. However, the edge segment is estimated to exhibit the fastest CAGR of 13.1% during the forecast period.
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By region, the market across North America dominated the market with major share in 2020, accounting for nearly two-fifths of the global data center market. At the same time, the market across Asia-Pacific is expected to witness the fastest CAGR of 14.7% from 2021 to 2030.
The leading market players analyzed in the global data center market report include Amazon.com Inc., Digital Realty, Equinix Inc., Alphabet Inc., Hewlett Packard Enterprise, Microsoft, IBM Corporation, NTT Communication Corporation, SAP SE, and Oracle.
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 provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains.