Global Data Center Market Overview: Latest Trends, Major
LONDON, March 16, 2023 (GLOBE NEWSWIRE) — The Business Research Company’s data center market study identifies increasing data volume growth as the driving force for the future data center market. Data refers to information that has been converted into a format that is easy to process and use. Today, all types of organizations process and store large amounts of information on a daily basis, in data centers. As a result, the volume of data is growing exponentially, driving the data center market forward. For example, according to Takeo, a US-based AI, cloud implementation and consulting technology company, 2.5 trillion bytes of data were created every day in 2020. According to CNET, a US-based technology company, and entertainment electronics media publishers, 44 zettabytes of data will be stored worldwide by 2020. Hence, the increasing growth in data volumes is driving the growth of the data center market.
The global data center market size is expected to continue growing $359.5 billion in 2022 To $416.1 billion in 2023 at a compound annual growth rate (CAGR) from more than 15%. The size of the data center market is then expected to grow $739.5 billion in 2027 at a CAGR of more than 17%
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According to The Business Research Company’s Data Center Market Report, TThe most important trends gain importance in the data center market are technological advances. Major market players are developing technologically advanced products, like the mobile data center, which features superior performance and minimalist design. For example, Verakaria, a US-based cryptocurrency hosting and mining service provider, launched Mobile Datacenter. Among the unique features of this data center is that it can support up to 2.57MW of power, equivalent to 696 miners, with a product area of 10’W-50’L-14’H and is built with enhanced capabilities and a simple design . Other benefits include that the device is designed from the ground up to deal with the changing weather patterns in any environment and location. It is also designed for quick transportation and on-site installation.
main actors in the data center market are Alphabet Inc., Amazon.com Inc., Equinix Inc., Microsoft Corp., NTT DATA Corp., Oracle Corp., SAP SE, International Business Machines Corp., Cisco Systems Inc. and Huawei Investment & Holding Co .ltd
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North America was that largest region in Data Center Market in 2022. The regions covered in this report are Asia Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
By type, the global data center market is segmented into colocation, hyperscale, edge and other types; from component to solution, services; by company size into large companies, small and medium-sized enterprises (SMEs); from end user to BFSI, IT & Telecom, Government, Energy & Utilities, other end users.
Data Center Global Market Report 2023 – Market Size, Trends and Global Forecast 2023-2032 by The Business Research Company provides data center insights and market analysis related to data center market size, data center market segments, data center market trends, data center growth drivers and restraints, key competitor market positioning, data center revenue and market share.
The Business Research Company has published more than 3,000 industry reports covering more than 2,500 market segments and 60 regions. The reports are backed by 1,500,000 datasets, extensive secondary research and exclusive insights from interviews with industry leaders.
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