Data Center Global Market Report 2024 : Market Size, Trends, And Global Forecast 2024-2033
Data Center Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033
LONDON, GREATER LONDON, UNITED KINGDOM, October 17, 2024 /EINPresswire.com/ — The data center market has experienced robust growth in recent years, expanding from $252.68 billion in 2023 to $274.98 billion in 2024 at a compound annual growth rate (CAGR) of 8.8%. The growth in the historic period can be attributed to enterprise it growth, mobile device proliferation, internet and digital revolution, business continuity requirements, data center consolidation.
What Is The Estimated Market Size Of The Global Data Center Market And Its Annual Growth Rate?
The data center global market is projected to continue its strong growth, reaching $388.41 billion in 2028 at a compound annual growth rate (CAGR) of 9.0%. The growth in the forecast period can be attributed to increasing digitalization, cloud services expansion, hybrid cloud adoption, sustainability and green initiatives, cybersecurity prioritization, remote workforce impacts. Major trends in the forecast period include edge computing expansion, cloud migration, hybrid cloud adoption, ai and machine learning integration, sustainability initiatives.
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Growth Driver Of The Data Center Market
Increasing growth in data volumes is expected to propel the data centers market going forward. Data refers to information that has been translated into a form that is easy to process and use. Today, all types of organizations process and store large quantities of information every day, and therefore they store the same in data centers; as a result, the volume of data has been growing exponentially, thereby driving the data centers market.
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Who Are The Key Players Shaping The Data Center Market Trends?
Key players in the data center market include Caterpillar Inc., Cummins Inc., ABB Ltd., Generac Power System Inc., KOHLER Group, Mitsubishi Motors Corporation, Hitech Power Protection, Rolls Royce Power Systems AG, Aggreko Company, Bruno s.r.l., Eaton Corporation, F.G. Wilson, Atlas Copco, Himoinsa SL, Langley Holdings PLC, MTU Friedrichshafen GmbH, Wärtsilä Corporation, Schneider Electric SE, Siemens AG, Emerson Electric Co., Socomec Group, Riello UPS, Vertiv Co., Delta Electronics Inc., Toshiba Corporation, Fuji Electric Co.Ltd., Kirloskar Electric Company, Yanmar Co. Ltd., Trina Solar Ltd., Yingli Green Energy Holding Company Limited.
What Are The Dominant Trends In Data Center Market Growth?
Technological advancements are the key trends gaining popularity in the data center market. Major players in the market are creating technologically advanced products such as the mobile data center features a superior power capability and minimalist design.
How Is The Global Data Center Market Segmented?
1) By Type: Colocation, Hyperscale, Edge, Other Types
2) By Component: Solution, Services
3) By Enterprise Size: Large Enterprises, Small And Medium Enterprises (SMEs)
4) By End User: BFSI, IT And Telecom, Government, Energy And Utilities, Other End Users
Geographical Insights: North America Leading The Data Center Market
North America was the largest region in the data center market in 2023. The regions covered in the data center global market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Data Center Market Definition
Data centers are referred to as physical facility that comprises networked computers, storage systems, servers, computational infrastructure, and application-delivery controllers. Data centers are needed by businesses for operations to store the data assets of the organization.
Data Center Global Market Report 2024 from The Business Research Company covers the following information:
• Market size data for the forecast period: Historical and Future
•Macroeconomic factors affecting the market in the short and long run
•Analysis of the macro and micro economic factors that have affected the market in the past five years
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
An overview of the global data center market report covering trends, opportunities, strategies, and more
The Data Center Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on data center market size, data center market drivers and trends, data center major players, data center competitors’ revenues, data center positioning, and market growth across geographies. The data center global market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.
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