Data Center Service Market Size To Expand at a Notable CAGR Of 21.86% During 2023 - 2030

MRFR Press Release/- Market Research Future has published a half-cooked research report on the Global Data Center Service Market. 

Market Synopsis:

A report published by Market Research Future (MRFR) indicates that the data center service market is expected to scale a valuation of USD 280.6 Bn over the forecast period 2023 to 2030. The report further highlights that the market is anticipated to expand at a CAGR of 21.86% over 2030.

In February 2018, Oracle had made a massive investment in the data center, wherein the company plans to set up at least 12 centers across the globe, which includes India, Japan, and China. The growing investment in data centers all around the world will work in favor of the global data center market in the coming years. In addition, the elevated demand for quality management in infrastructure combined with new technological innovations in the field of data storage as well as the transfer will most likely be a driving force behind the growth of the data center service market. Besides, data center service offers numerous benefits in the form of scalability, reliability, cost benefits, redundancy, and others. Such benefits have also been responsible for increasing the product appeal among a large portion of the global consumer base.

Adding on, the emergence of cloud technology in data centers is one of the prominent drivers augmenting the demand for data center systems & technology, subsequently triggering market growth. As per reports, in 2017, the spending on public cloud-based data centers had grown by 35%, as compared to the previous year.

Moreover, there has been an increase in the number of people that were connected via cloud servers on account of the enhanced data security and storage function; a factor that is bound to create numerous growth opportunities for the data center service market. Case in point is Apple, which in January 2018 had increased its investment in data centers by USD 10 billion in the next five years. This will surely foster the global demand for data centers, in turn, propelling the market growth over the assessment period.

Market Segmentation:

By service type, the global data center service market has been segmented into Support, Consulting, Training, Financial, Application, and Out-Sourcing.

By organization, the data center service market has been segmented into SMBs, Large Enterprise, and cloud providers.

By data center type, the global data center service market has been segmented into captive and outsourced.

By end-user, the data center service market has been segmented into manufacturing, BFSI, IT/ITES, healthcare, transportation, government, and others.

Regional Insights:

The global data center service market, by region, has been segmented into Asia Pacific, North America, Europe and the Rest of the World. North America is likely to dominate the global market across the assessment period. The rising adoption of peripheral services coupled with growing investments is expected to augment the data center service market in the region over the next couple of years. Meanwhile, Asia Pacific resonates strong growth opportunities and is prognosticated to thrive significantly in the upcoming years.

Competitive Dashboard:

Some of the key players profiled in this report are Fujitsu Ltd. (Japan), Huawei Technologies Co. Ltd. (China), HPE (U.S.), IBM (U.S.), Cisco Systems, Inc. (U.S.), Vertiv Co(U.S.), Dell, Inc. (U.S.), Equinix, Inc. (U.S.), Level 3 Communications (U.S.), NTT Communications(Japan), Schneider Electric SE (France), and Hitachi Ltd. (Japan)

Industry News

In February 2019, Huawei Technologies Co. is all set to roll out its data center services in South Africa by March, with the primary objective of expanding its market position in Africa. In addition, the company is partnering with the local partners in a bid to offer services from its first data center that support cloud services in Johannesburg.