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Rise in investment in data center technology globally coupled with rise in data center complexities due to scalability drive the market growth.
PORTLAND, PORTLAND, OR , UNITED STATES , July 14, 2022 /EINPresswire.com/ -- High risk associated with data breach in emerging economies are anticipated to restrain the market growth. Further, rise in penetration of high-end cloud computing solution across prime enterprises paired with surge in penetration of Internet of Things is expected to provide lucrative opportunities for the data center market during the forecast period.
The global data center market size was valued at $187.35 billion in 2020, and is projected to reach $517.17 billion by 2030, growing at a CAGR of 10.5% from 2021 to 2030.
A data center is a physical facility that is designed to make organization computing possible and provide access to a large amount of data to perform daily operations, applications, and other processes in a cloud computing environment. Further, modern data center design often varies based on vendors providing the services or needs of various enterprises. The modern data center consists of crucial infrastructure.
However, an occupancy detection system in automotive applications is essential for implementing applications that allow a user to maintain efficiency in run applications, online presence, and process data.
Moreover, the growing adoption of artificial intelligence and machine learning-powered solutions are forecast to propel the need for the data centers solution, which is opportunistic for market growth.
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The solution segment was the highest contributor to the market in 2020. Surge in adoption of hybrid and multi cloud computing solution across prime enterprise has led the growth of solution segment during the forecast period.
Region wise, North America holds a significant share in the global data center market size. This is attributed to the presence of prime vendors in the region and availability of advanced technological solutions. The adoption of cloud computing solution at the IT & telecommunication and BFSI is expected to propel the growth of the virtualization security industry is anticipated to boost the growth of the virtualization security market in this region.
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Major market players such as - Alphabet Inc., Amazon.com Inc., Digital Realty, Equinix Inc., Hewlett Packard Enterprise, IBM Corporation, Microsoft, NTT Communication Corporation, Oracle, and SAP SE.
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