Powering the Digital Economy: Exploring the Global Data Center Market
The global data center market size is estimated to grow from USD 169.42 billion in 2021 to USD 520.41 billion by 2030, at a compound annual growth rate (CAGR) of 12.29% during the forecast period 2022 to 2030. Data centers underpin the digital infrastructure enabling cloud, big data, IoT, and other technology trends.
Data Center Market Overview:
Data centers are centralized facilities that house computing and networking equipment to collect, store, process, and distribute large amounts of data. Key components include:
- Servers – for processing and storing data
- Storage infrastructure – SAN, NAS, backup
- Networking – switches, routers, firewalls
- Cooling systems – CRAC, CRAH units
- Power infrastructure – backup power supplies
- Racking and cabling
- Software and security solutions
Hyper-scale cloud data centers support the surging demand for computing power, storage and services. Colocation and edge data centers also fulfill key roles in modern IT.
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Key Market Segments
The data center market is segmented by infrastructure, IT infrastructure, services, end-user industry and region:
- Infrastructure: Electrical, Mechanical, General Construction
- IT Infrastructure: Server Infrastructure, Storage Infrastructure, Network Infrastructure
- Services: Consulting, System Integration, Professional
- End-User Industry: BFSI, IT & Telecom, Government, Healthcare, Others
- Region: North America, Europe, APAC, Latin America, Middle East & Africa
Key Market Drivers
- Growth in hyperscale and cloud computing adoption
- Emergence of IoT, big data and AI driving workloads
- Focus on cost optimization, energy efficiency, sustainability
- Increasing demand for colocation services
- High-density, hyper-converged infrastructure
- Rising enterprise digital transformation initiatives
Key Companies
Leading data center infrastructure providers include:
- Cisco
- Dell
- HPE
- IBM
- Huawei
- Lenovo
- NetApp
- Vertiv Group
- Equinix
- NTT Communications
Regional Insights
North America was the largest region accounting for over 35% market share in 2021. Asia Pacific is expected to grow at a high CAGR during 2022-2030.
Latest Industry Trends
- Adoption of advanced power usage effectiveness monitoring
- Waterless cooling techniques leveraging outside air
- Machine learning enabled predictive maintenance
- Development of modular and prefabricated data centers
- Growing rack power density and adoption of 48V infrastructure
In summary, data centers will continue to evolve with innovative infrastructure and designs to meet the exponential data requirements and emerging technology workloads of the digital economy.
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