Global Data Centre Market, By Type (Corporate data centers, Web hosting data centres), By Density (low, medium, high, and extreme), By Vertices (banking & financial services, telecom and IT, government, healthcare, and others), and By Region (North America, Europe, Asia Pacific, Latin America, Middle East, & Africa) is expected to grow at a significant CAGR for the period between 2020 and 2028.
The global data center market was valued US$ 4.2 Bn at the end of 2020 and expected to reach at a value of US$ 6.0 Bn by 2028 with a significant CAGR of 4.5%.
Today is the age of cloud computing which comprises management of internet based data from faraway places. The massive amount of data is being registered, collected, refined and processed well and ultimately reserved up all at the pivotal centres situated in particular buildings. Those specific buildings are termed as data centres, which is a location where all these servers are assembled in conformity with a craft of technology.
On an understandable level, a data centre is a utility that concentrates an organization’s collective IT equipment and operations for the intents of gathering and accumulating and further refining and distributing applications and data. In view of the fact that they accommodate an organization's most crucial and exclusive assets, data centers are essential to the persistence of routine operations.
Consequently, the reliability and protection of data centers and secured accumulated data and information are definitely among any organization’s leading areas of focus. Therefore, the rising demand for cloud technology and data storage management, across the world, are acting as a couple of major factors that are boosting the growth of the global data centre market.
In addition to that, several different industries, worldwide, such as information technology, healthcare, government, banking and financial institutions, and IT and telecommunication and retail industry widely utilize data centres, which further fuels its demand across the world. Owing to which, the global data centre market is projected to rise rapidly in the years to come.
Nowadays, the developed and advanced data centres utilizes supervision softwares which helps IT overseers in distantly inspecting and monitoring the equipment. For giant organizations, data centres have the in-house environment which comprises bigger IT systems, encouraging massive connected applications. Attributing to which, data centres are expected to witness substantial growth in the global markets in the forthcoming future.
Furthermore, in the present era, data centers are aiming their attention on real-time data analytics for testing the required clarity to intricate business alternatives and decisions. Such distinctiveness are estimated to accelerate the growth of the global data centers market in the future years.
MMC Study identifies some of the key participating players in the data centre market globally are Digital Realty Trust, Inc., IBM Corporation, Hitachi Ltd, Cisco System, Inc., Hewlett-Packard Inc., EMC Corporation, CyrusOne, Global Switch, DuPont Fabros Technology and Telehouse., among others.
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