New Data Centers to Garner US$ 200 Bn Market Revenue for Big Data Market: Fact.MR Study
Published : 12 Jan 2022 Industry: Technology
Fact.MR states the global sales of big data market are expected to surpass US$ 279 Bn by registering a CAGR of 14.3% in the forecast period 2022-2032. Governments across countries, including China, India, the U.S., U.K. and others are increasing digital infrastructure investments for developing robust data centers. Public-private partnerships are driving digital infrastructure growth at a much faster pace. For instance, the U.K. government announced more than US$ 1 Bn for digital infrastructure development to emerge as digital hub. Data centers are broadly deployed in the IT & telecom and BFSI sectors due to their high-end capabilities of data saving and security. Overall, the global data center market is slated to grow 3.6X over the decade.
Historically, from 2017 to 2021, the sales of big data exceeded US$ 77 Bn by the end of the aforementioned period. Although the onset of COVID-19 pandemic disrupted flow flow chain for various industries but it paved way for technology. As work from home became the new normal, the demand for admistrating and managing work increased. Thus, the sales of big data are expected to grow by leaps and bounds in the upcoming assessment period.
The trend of green data centers has gained high traction, given the increasing need for cost-effective and energy savings along with enhanced efficiency and sustainability. Largely driven by digitization in every industry, data centers are expected to witness potential growth prospects across mature as well as emerging markets. Market participants are leveraging on the megatrend of digitalization. The prime strategy adopted by market frontrunners is enriching their services through value addition at each node of their offerings.
Key Takeaways from the Market Study
- By consulting, network design expected to hold 25% market share for data centers.
- By type, new data centers are expected to garner US$ 200 Bn market value for data centers.
- Data center industry expected to possess nearly 35% market share throughout North America.
- Data center industry expected to accumulate US$ 11 Bn market value throughout MEA.
- U.S, Japan, China and India are the top four countries driving demand for data center.
“Mounting cloud-based services has boosted development of digital infrastructure, thereby accelerating the need for new data centers across regions,” says a Fact.MR analyst.
- IBM Corporation, a key market player is offering its services to different end user industries by customizing services according to the demand of end users. The company is focusing on providing services that will make work seamless
- IBM Corporation, Google LLC, Equinix, Inc, AT&T Inc, Hewlett Packard Enterprise Co and Honeywell International are prominent data center market players.
More Valuable Insights
Fact.MR, in its new offering, presents an unbiased analysis of the global data center market, presenting historical demand data (2017-2021) and forecast statistics for the period of 2022-2032.
The study indulges essential insights on the market on the basis of type (new data center and data center rebuild), application (Data Centers for IT & Telecom, Data Centers for BFSI, Data Centers for Governments, Data Centers for Healthcare, Others), consulting (Network Design, Network Design & Planning, Security Consulting, Network Analysis, Benchmarking, Needs Assessment, Operation Assessment, Process Improvement) and across seven major regions (North America, Latin America, Europe, East Asia, South Asia and Pacific and MEA).
Fact.MR’s Domain Knowledge in Technology
Our ICT consulting team guides organizations at each step of their business strategy by helping you understand how the latest influencers account for operational and strategic transformation in the ICT sector. Our expertise in recognizing the challenges and trends impacting the global ICT industry provides indispensable insights and support – encasing a strategic perspective that helps you identify critical issues and devise appropriate solutions.
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Sr. Consultant – ICT