A rapid surge in the number of internet users has resulted in greater requirement of storage equipment, driving data center infrastructure market trends over 2018-2024. A rise in the number of data centers has been witnessed owing to escalating cloud storage requirement, rapid acceptance of digital & mobile computing solutions, and rampant utilization of social media tools. The demand for data centers across healthcare, BFSI, and IT & telecom sectors are anticipated to further impel data center infrastructure market demand.
Five trends influencing data center infrastructure market:
- Colocation applications are gaining traction across data center infrastructure industry, with colocation service providers offering infrastructural maintenance, power, and cooling services to customers.
- Asia Pacific data center infrastructure market is likely to witness a remarkable growth over the coming six years, owing to the presence of smartphone users and electronic firms. Increase in the data centers across the countries such as India and China will further impel the industry growth.
- Hardware components are expected to make substantial contribution towards data center infrastructure market size. The growth can be credited to the high requirement of data storage facilities and applications. Improvisations in technology such as rollout of 4G or LTE networks will further augment data center infrastructure market share.
- DCIM-based data center infrastructure market share will register a CAGR of 20% over 2018-2024. The growth is powered by the ability of these solutions to manage facility operations and improve infrastructure planning.
- Driven by rising investments by myriad companies in the Nordic region and the increasing number of IT facilities, Europe data center infrastructure market size will cross USD 30 billion by 2024.
The competitive landscape of data center infrastructure market is reportedly characterized by a plethora of firms, ranging from startups to major service providers.