Global Data Center Solutions Market Size Forecasted to Reach USD 899.53 Billion By 2032, With 11.6% CAGR Growth: Polaris Market Research
The global data center solutions market size and share is currently valued at USD 336.08 billion in 2023. It is anticipated to generate an estimated revenue of USD 899.53 billion by 2032, according to the latest study by Polaris Market Research. Besides, the report notes that the market exhibits a robust 11.6% Compound Annual Growth Rate (CAGR) over the forecasted timeframe, 2024-2032. The key market players include AWS, China Telecom, CoreSite, Cyxtera Technologies, CyrusOne, Dell, Digital Realty, Equinix, GDS Holdings, Google, HPE, Huawei, KDDI, Microsoft, NTT and others.
New York, NY, Jan. 31, 2024 (GLOBE NEWSWIRE) -- A latest research report [115+] pages with 360-Degree visibility, titled “Data Center Solutions Market Share, Size, Trends, Industry Analysis Report, By Electrical Solution; By Mechanical Solution; By User Type; By End-Use Industry; By Region; Segment Forecast, 2024 - 2032" published by Polaris Market Research in its research repository.
The global data center solutions market size and share is currently valued at USD 336.08 billion in 2023. It is anticipated to generate an estimated revenue of USD 899.53 billion by 2032, according to the latest study by Polaris Market Research. Besides, the report notes that the market exhibits a robust 11.6% Compound Annual Growth Rate (CAGR) over the forecasted timeframe, 2024-2032.
Market Definition
What is a Data Center Solution? What is Expected Data Center Solutions Market Size?
A data center is a physical structure that companies use to accommodate their essential applications and data. The advancements and services required to establish and manage a data center are referred to as data center solutions. Products include cooling systems, generators, batteries, cabling, and supporting infrastructure for the physical data center, as well as IT equipment such as routers, servers, firewalls, and storage systems.
Furthermore, current data centers are more distinct than they were a while back. Infrastructure has moved from conventional on-premises physical servers to virtual networks that sustain workloads and applications across collections of physical infrastructure and into a multi-cloud atmosphere. This shift from traditional on-premises physical servers to virtual network-based data centers is propelling the growth of the data center solutions market size.
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Data Center Solutions Market Key Companies
AWS
China Telecom
CoreSite
Cyxtera Technologies
CyrusOne
Dell
Digital Realty
Equinix
GDS Holdings
Google
HPE
Huawei
KDDI
Microsoft
NTT
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Key Highlights
The growing need for digital transformation, cloud services, and data-intensive technologies is expected to propel the growth of the data center solutions industry.
The data center solutions market analysis is mainly segmented into mechanical solutions, electrical solutions, end-use industry, user type, and region.
North America conquered the market with the largest revenue share in 2023.
Data Center Solutions Market: Report Dynamics & Scope
Report Attribute | Details |
Revenue forecast in 2032 | USD 899.53 Billion |
Market size value in 2024 | USD 374.26 Billion |
Expected CAGR Growth | 11.6% from 2024 – 2032 |
Base Year | 2023 |
Forecast Year | 2024 – 2032 |
Top Market Players | AWS, China Telecom, CoreSite, Cyxtera Technologies, CyrusOne, Dell, Digital Realty, Equinix, GDS Holdings, Google, HPE, Huawei, KDDI, Microsoft, NTT, among others |
Segments Covered | By Electrical Solution, By Mechanical Solution, By User Type, By End-Use Industry, By Region |
Customization Options | Customized purchase options are available to meet any research needs. Explore customized purchase options |
Market Developments
Growth Drivers:
The Growth of Data Center Capacity: The data center solutions market growth is being driven by the rise of data center capacity. The requirement for data center capacity is significantly increasing as a result of rising data volumes, the adoption of emerging technologies, and a growth in the demand for digital services within enterprises.
Increased Adoption of Remote Work, Cloud Adoption, and Edge Computing: The growing data center solutions market demand is being driven by the increasing use of cloud computing, remote work, and edge computing. The quick use of virtualization, cloud services, and remote work highlights the necessity of robust data center infrastructure. Because they provide connectivity, accessibility, and data security, data center solutions are essential to the continued existence of a remote workforce. The market need for data center solutions that can easily interface with cloud platforms is rising due to the increasing acceptance of cloud services, including both public and private clouds.
Industry Trends:
Growing Prevalence of IoT Devices and Real-Time Applications: The increasing prevalence of Internet of Things devices and real-time applications has led to a paradigm change called edge computing. By putting edge data centers closer to data sources, this game-changing trend lowers latency and speeds up processing times. This change has led to an increase in the necessity for a dispersed network of data centers that can handle localized computing requirements.
Restraints:
High Consumption of Energy: The expansion of the data center solutions market would be hampered by the high energy consumption of these solutions. Data centers need a lot of electricity to run their computers, cooling systems, and other infrastructure. In addition to increasing operating expenses, the increased energy usage increases environmental issues and increases the carbon imprint. Data center operators are facing mounting pressure to lower their energy usage and environmental impact as people grow more conscious of sustainability issues. Nevertheless, overcoming this obstacle is challenging since increasing energy efficiency sometimes calls for large one-time expenditures on technology like cutting-edge cooling systems, effective hardware, and renewable energy sources.
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Segmentation Overview
The Power Distribution Sector Holds the Largest Market Share
Effective management and delivery of electrical power to diverse IT devices is essential for power distribution. This covers the application of intelligent power management systems, uninterrupted power supply, and power distribution units (PDUs). The application of smart PDUs with real-time monitoring and control, which promote optimal energy utilization, is highlighted by recent advancements in power distribution.
Moreover, the market has grown at the fastest rate in the power backup sector. In order to maintain continuous operations during power outages, data centers employ backup technologies like generators and energy storage solutions.
The BFSI Sector Dominated the Market
The BFSI sector will have a dominant data center solutions market share due to the increasing use of hybrid cloud solutions for enhancing data management and agility. To maintain business continuity, BFSI institutions are spending money putting disaster recovery solutions into place. They are also giving cybersecurity measures top priority in order to safeguard sensitive financial data better.
Furthermore, the market has grown at the quickest rate in the telecom and IT category. In order to fulfill the increasing demand for digital services, the telecommunications and information technology industry is looking for data center solutions. The construction of edge data centers is a noteworthy trend aimed at lowering latency in real-time applications.
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Regional Insights
North America: North America is leading the way in digital transformation due to its robust IT infrastructure, large number of well-established businesses, and prominent figures in the tech sector. The increasing demand for cloud services, the significant usage of big data analytics, and the widespread deployment of connected devices are driving the growth of the data center solutions market in North America.
Asia Pacific: Due to the expansion of the e-commerce industry and the increasing use of the internet, Asia Pacific is anticipated to have the quickest growth in the data center solutions market over the forecast period. The need for dispersed data centers is being driven by the emergence of Edge computing and 5G networks.
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Key Questions Addressed in the Report:
How big is the market for data center solutions?
Ans: The global market size and share are currently valued at USD 336.08 billion in 2023 and are anticipated to generate an estimated revenue of USD 899.53 billion by 2032 at an 11.6% CAGR over the forecasted timeframe, 2024-2032.
What are the driving factors and opportunities in the market?
Ans: The growing need for digital transformation, cloud services, and data-intensive technologies is expected to propel the growth of the data center solutions industry.
Who are the data center solutions market key players?
Ans: Some of the major market players are China Telecom, AWS, Cyxtera Technologies, CoreSite, Dell, CyrusOne, Digital Realty, Equinix, and GDS Holdings.
Which region accounts for the largest market share?
Ans: North America conquered the market with the largest revenue share in 2023.
Polaris Market Research has segmented the data center solutions market report based on electrical solution, mechanical solution, user type, end-use industry, and country:
By Electrical Solution Outlook
Power Backup
Power Distribution
Cabin Infrastructure
By Mechanical Solution Outlook
Cooling Towers
Air Conditioning
Chillers
Management System
Others
By User Type
Enterprise Data Center
Mid-Size Data Center
Large Data Center
By End-Use Industry Outlook
BFSI
Healthcare
Energy
Telecom and IT
Others
By Region Outlook
North America (U.S., Canada)
Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)
Asia Pacific (Japan, China, India, Malaysia, Indonesia, South Korea)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)
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About Polaris Market Research:
Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for PMR’s clientele spread across different enterprises. We at Polaris are obliged to serve PMR’s diverse customer base present across the industries of healthcare, technology, semi-conductors and chemicals among various other industries present around the world. We strive to provide PMR’s customers with updated information on innovative technologies, high growth markets, emerging business environments and latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities. Adept with a highly competent, experienced and extremely qualified team of experts comprising SMEs, analysts and consultants, we at Polaris endeavor to deliver value-added business solutions to PMR’s customers.
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