Data Center Asset Management Market Research Report By Component (Software, Services), By Application (Inventory Management, Capacity Management, Change Management, Energy Management, Security Management), By Deployment Mode (On-premise, Cloud-based), By Industry Vertical (IT and Telecom, BFSI, Healthcare, Government, Manufacturing) and By Regional (North America, Europe, South America, Asia Pacific, Middle East and Africa)- Forecast to 2032.

Data Center Asset Management Market Overview

As per MRFR analysis, the data center asset management market size was estimated at 20.97 (USD Billion) in 2022. The data center asset management market industry is expected to grow from 23.4(USD Billion) in 2023 to 62.7 (USD Billion) by 2032. The data center asset management market CAGR (growth rate) is expected to be around 11.57% during the forecast period (2024-2032).

Key Data Center Asset Management Market Trends Highlighted

Key market drivers propelling the growth of the data center asset management market include increasing data center complexity, the need for enhanced efficiency, and stringent regulatory compliance. The growing adoption of cloud and edge computing, coupled with the proliferation of IoT devices, is driving the need for optimized and efficient data center management solutions. Additionally, the demand for real-time data analytics and artificial intelligence (AI) is further fueling the market growth.

Opportunities for innovation and market expansion lie in the integration of AI and machine learning algorithms into data center asset management solutions. The convergence of IT and operational technology (OT) is also creating new opportunities for vendors to deliver comprehensive asset management platforms. The increasing adoption of predictive analytics and automated workflows presents significant opportunities for enhancing data center operations and reducing costs.

Recent trends in the data center asset management market include the adoption of cloud-based solutions, the integration of IoT sensors and edge computing capabilities, and the growing focus on sustainability and green data center initiatives. The convergence of physical and virtual infrastructure management is also driving the demand for integrated asset management platforms that can manage both physical and IT assets.

Source: Primary Research, Secondary Research, MRFR Database and Analyst Review

Data Center Asset Management Market Drivers

Rising Demand for Efficient Data Center Management

The increasing proliferation of data and the need for efficient data center management are driving the growth of the global data center asset management market. As organizations strive to optimize their data center operations and reduce costs, they are turning to data center asset management solutions to gain visibility and control over their IT assets. These solutions enable organizations to track, manage, and optimize their data center assets throughout their lifecycle, helping them to improve efficiency, reduce downtime, and ensure compliance.

The growing adoption of cloud computing and virtualization technologies is also contributing to the demand for data center asset management solutions, as organizations seek to manage their IT assets across multiple locations and platforms.

Growing Need for Data Security and Compliance

Moreover, the increased penetration of data security and regulatory compliance is another prominent driver of the global data center asset management market. For instance, amid the rising number of data breaches and increasing data protection requirements and regulations, organizations opt to invest in data center asset management solutions as a means of safeguarding sensitive information and ensuring compliance with industry regulations.

The awareness of data protection rules, such as the General Data Protection Regulation, known as GDPR, or California Consumer Privacy Act, otherwise referred to as CCPA, and others drive demand for such solutions. In this way, data center asset management solutions provide organizations with the functionality needed to track and manage their data center assets and identify security threats in a timely manner by applying security measures that prevent unauthorized data center asset access and improve the overall organizational data protection.

Advancements in Data Center Technologies

Advancements in data center technologies are propelling the growth of the global data center asset management market. Organizations are adopting AI, ML and IoT among new technologies to automate and optimize data center operations. Real-time insights are being rendered by data center asset management solutions which enable organizations to make data-driven decisions and improve efficiency.

Furthermore, because of edge computing and 5G networks adoption, opportunities are being opened for data center asset management solutions as organizations intend to manage IT assets operations across platforms and locations.

Data Center Asset Management Market Segment Insights

Data Center Asset Management Market Component Insights

The global data center asset management market is segmented by component into software and services. The software segment is expected to hold the largest share of the market in the forecast years and is also expected to dominate the market in the forecast period.

This is mainly due to the rising adoption of software solutions for data center asset management, such as data center infrastructure management and data center management software. Such solutions help organizations to manage their data center assets by improving the efficiency and effectiveness of their data center asset management.

These software solutions can provide organizations with several advantages, such as improved visibility into data center assets, reduced operating costs and increased uptime. The services segment is also expected to grow during the forecast period. The growth of the market can be credited to several factors such as the increasing adoption of cloud computing, the growing need for data center optimization and the increasing adoption of data center asset management software and services.

The market is also expected to benefit from the rising adoption of artificial intelligence and machine learning in data center asset management. Such technologies help organizations to automate and improve the efficiency of their data center asset management processes.

Source: Primary Research, Secondary Research, MRFR Database and Analyst Review

Data Center Asset Management Market Application Insights

The is segmented by application to inventory management, capacity management, change management, energy management, security management. Inventory management held the largest market share in 2023 and is expected to continue its dominance in the forecast period. This growth is due to the growing need for data centers to be able to track and manage their IT assets. Capacity management is another important segment in demand, which is expected to grow at a brisk rate. This growth is due to the demand for capacity planning and optimization solutions throughout data centers.

Change management is another leading segment that is seen growing rapidly in the forecast period. This growth is also due to the growing need for data centers to be able to effectively manage changes in their IT infrastructure. Energy management is another important segment, demand for which is expected to increase. This growth is due to the ever increasing focus on power efficient data centers.

Security management is another leading segment, which is again seen growing rapidly in the forecast period. This growth is due to the growing need for data centers to have their IT assets protected from any security threat.

Data Center Asset Management Market Deployment Mode Insights

The global data center asset management market segmentation by deployment mode comprises on-premise and cloud-based. Among these, the on-premise segment held a larger market share in 2023 and is projected to maintain its dominance throughout the forecast period. This is attributed to the fact that on-premise solutions provide greater control, customization, and security, which is preferred by enterprises with sensitive data or specific compliance requirements.

However, the cloud-based segment is expected to experience significant growth during the forecast period due to the increasing adoption of cloud computing and the benefits it offers, such as scalability, cost-effectiveness, and ease of management. By 2032, the cloud-based segment is estimated to account for a substantial share of the global data center asset management market revenue, driven by the growing demand for flexible and cost-efficient solutions.

Data Center Asset Management Market Vertical Insights

The global data center asset management market is anticipated to reach a valuation of USD 28.7 billion by 2026, exhibiting a CAGR of 10.2% during the forecast period. Industry Vertical is a key market segment, with major sectors including IT and Telecom, BFSI, Healthcare, Government, and Manufacturing.

IT and Telecom dominate the market, accounting for a sizable revenue share due to the rising adoption of cloud computing and virtualization technologies. BFSI follows closely, driven by the need for robust data management and compliance with industry regulations.

Healthcare is also a significant segment, with increasing demand for patient data management and analytics. Government and Manufacturing sectors are expected to contribute to the market growth, driven by initiatives to improve operational efficiency and manage data assets effectively.

Data Center Asset Management Market Regional Insights

The data center asset management market is segmented into North America, Europe, APAC, South America, and MEA. North America is the largest regional segment, accounting for over 35% of the global market in 2023. The region is expected to continue to dominate the market throughout the forecast period, driven by the presence of various data centers and the growing adoption of cloud computing services.

Europe is the second largest regional segment, with a market share of over 25% in 2023. The region is expected to witness steady growth over the forecast period, driven by the increasing demand for data center services from various industries.

APAC is the fastest growing regional segment, with a market share of over 20% in 2023. The region is expected to grow at a CAGR of over 12% over the forecast period, driven by the rapid growth of the IT industry and the increasing adoption of cloud computing services.

South America and MEA are relatively smaller regional segments, with a combined market share of less than 15% in 2023. However, these regions are expected to witness significant growth over the forecast period, driven by the increasing adoption of data center services and the growing investment in data center infrastructure.

Source: Primary Research, Secondary Research, MRFR Database and Analyst Review

Data Center Asset Management Market Key Players and Competitive Insights

Major players in the data center asset management market are continuously developing innovative solutions and expanding their product portfolios to meet the evolving needs of customers. Leading market players are investing heavily in research and development to enhance the capabilities of their solutions and gain a competitive edge.

The market is characterized by a high degree of competition, with several established players and emerging startups vying for market share. To succeed in this dynamic market, companies must differentiate their offerings, focus on customer satisfaction, and stay abreast of the latest technological advancements.

Emerson Electric Co. is a leading provider of data center asset management solutions and services. The company offers a comprehensive suite of solutions that help customers optimize the performance and efficiency of their data center assets. Emerson Electric Co.'s solutions include data center infrastructure management software, power and cooling systems, and services such as data center design, construction, and maintenance.

The company has a global presence and serves a wide range of customers, including large enterprises, government agencies, and cloud service providers. Emerson Electric Co. is committed to innovation and continuously invests in research and development to enhance its solutions and meet the evolving needs of its customers.

Schneider Electric SE is another major player in the data center asset management market. The company offers a wide range of data center solutions, including power and cooling systems, data center infrastructure management software, and services. Schneider Electric SE has a strong focus on energy efficiency and sustainability and offers solutions that help customers reduce their energy consumption and carbon footprint. The company has a global presence and serves a wide range of customers, including large enterprises, government agencies, and cloud service providers. Schneider Electric SE is committed to innovation and continuously invests in research and development to enhance its solutions and meet the evolving needs of its customers.

Key Companies in the Data Center Asset Management Market Include

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  CommScope

  
  


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  Johnson Controls

  
  


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  Flexera Software

  
  


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  FNT Software

  
  


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  ManageEngine

  
  


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  Raritan

  
  


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  NTT Global Data Centers

  
  


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  Nlyte Software

  
  


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  Cybersyte

  
  


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  Causeway Technologies

  
  


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  DataPipe

  
  


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  Schneider Electric

  
  


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  Eaton

  
  


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  ServiceNow

  
  


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  Sunbird Software

  
  


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  Apstra

  
  

Data Center Asset Management Market Developments

The increasing adoption of cloud computing, virtualization, and the Internet of Things (IoT) is driving the growth of the global data center asset management market. The market is expected to witness substantial growth over the forecast period, owing to the rising demand for efficient management of data center assets. Key market players are focusing on developing innovative solutions to meet the growing needs of data centers.

For instance, in 2023, Schneider Electric launched EcoStruxure IT, a comprehensive data center infrastructure management solution that provides real-time monitoring, analytics, and control. The growing adoption of artificial intelligence (AI) and machine learning (ML) technologies is also expected to contribute to the market growth, as these technologies can help improve the efficiency and effectiveness of data center asset management.

Data Center Asset Management Market Segmentation Insights

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  Data Center Asset Management Market Component Outlook

  
  
  
  
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    Software

    
    
  
  
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    Services

    
    
  
  
  
  


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  Data Center Asset Management Market Application Outlook

  
  
  
  
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    Inventory Management

    
    
  
  
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    Capacity Management

    
    
  
  
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    Change Management

    
    
  
  
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    Energy Management

    
    
  
  
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    Security Management

    
    
  
  
  
  


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  Data Center Asset Management Market Deployment Mode Outlook

  
  
  
  
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    On-premise

    
    
  
  
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    Cloud-based

    
    
  
  
  
  


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  Data Center Asset Management Market Vertical Outlook

  
  
  
  
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    IT and Telecom

    
    
  
  
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    BFSI

    
    
  
  
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    Healthcare

    
    
  
  
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    Government

    
    
  
  
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    Manufacturing

    
    
  
  
  
  


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  Data Center Asset Management Market Regional Outlook

  
  
  
  
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    North America

    
    
  
  
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    Europe

    
    
  
  
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    South America

    
    
  
  
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    Asia Pacific

    
    
  
  
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    Middle East and Africa