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Global Data Center Solutions Market Size, Share & Trends Analysis Report 2023-2030, By Offering, Tier Type, Data Center Size, Data Center Type And Regional Outlook
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Dublin, April 16, 2024 (GLOBE NEWSWIRE) -- The "Global Data Center Solutions Market Size, Share & Trends Analysis Report By Offering, By Tier Type (Tier 4, Tier 3, Tier 2, and Tier 1), By Data Center Size, By Data Center Type, By Regional Outlook and Forecast, 2023 - 2030" report has been added to ResearchAndMarkets.com's offering.
The Global Data Center Solutions Market size is expected to reach $711.5 billion by 2030, rising at a market growth of 11.5% CAGR during the forecast period.
Virtualization software allows organizations to abstract physical hardware resources and create virtual instances of servers, storage, and networking components. Therefore, the virtualization software segment captured $9558.1 million revenue in the market in 2022. By consolidating multiple virtual machines (VMs) onto a single physical server, virtualization enables organizations to optimize resource utilization, reduce hardware sprawl, and maximize data center infrastructure efficiency.
Based on the Analysis presented in the Cardinal Matrix; Google and Microsoft are the forerunners in the Market. For instance, In May, 2023, Microsoft Corporation has launched its latest cloud region, the first in Central and Eastern Europe, situated in Poland. This development marks a significant step in Poland's digital transformation and connects it to the world's most extensive cloud infrastructure. Companies such as Equinix, Inc., Huawei Technologies Co., Ltd., KDDI Corporation are some of the key innovators in the market.
Market Growth Factors
Globally, organizations are increasingly moving their IT infrastructure and services to cloud platforms, leading to a surge in demand for data centers that can support and integrate with cloud environments. Cloud computing offers scalability, allowing businesses to scale their operations and resources based on demand. These solutions become essential to provide the underlying infrastructure that supports the scalability requirements of cloud services. Therefore, the rising adoption of cloud computing is propelling the growth of the market.
Additionally, the rollout of 5G technology significantly increases data traffic due to higher data speeds and improved network capacity. The sector's firms generated a combined business profit of around 197.9 billion U.S. dollars (approximately 1.4 trillion yuan), representing a year-on-year increase of 6.9 percent. Similarly, as per the International Trade Administration, the 5G has attained 53% coverage rate in Saudi Arabia. The cumulative capital investment of Saudi Arabia in digital infrastructure surpassed $24.8 billion during the preceding six years. Thus, the increasing 5G rollout is driving the growth of the market.
Market Restraining Factors
Investing in compliance certifications, physical security systems, and cybersecurity measures adds to the initial costs, particularly for data-sensitive industries. Organizations often require customized data center solutions tailored to their specific needs. Designing and implementing such customized infrastructure, which is also scalable for future growth, entails additional costs contributing to the overall high initial investment. Therefore, the high initial investment hampers the growth of the market.
The leading players in the market are competing with diverse innovative offerings to remain competitive in the market. The above illustration shows the percentage of revenue shared by some of the leading companies in the market. The leading players of the market are adopting various strategies in order to cater demand coming from the different industries. The key developmental strategies in the market are Geographical Expansions.
Key Companies Profiled
- Amazon Web Services
- Microsoft Corporation
- Equinix, Inc.
- Huawei Technologies
- Dell Technologies
- KDDI Corporation
- Hewlett Packard enterprise Company
- Cyxtera Technologies
- CoreSite
Market Report Segmentation
By Offering
- Hardware
- IT Modules
- Power Modules
- Cooling Modules
- Software
- Monitoring & Management Tools
- Automation & Orchestration Software
- Backup & Disaster Recovery
- Security Software
- Virtualization Software
- Analytics Software
- Services
- Support & Maintenance
- Integration & Deployment
- Design & Consulting
By Tier Type
- Tier 4
- Tier 3
- Tier 2
- Tier 1
By Data Center Size
- Large Data Centers
- Mid-Sized Data Centers
- Small Data Centers
By Data Center Type
- Enterprise Data Center
- Modular Data Center
- Colocation Data Center
- Cloud Data Center
- Edge Data Center
By Vertical
- BFSI
- Government & Defense
- Energy & Utilities
- Healthcare & Lifesciences
- Transportation
- IT & Telecom
- Retail
- Manufacturing
- Others
For more information about this report visit https://www.researchandmarkets.com/r/1dczwd
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First published on Tue, Apr 16, 2024
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