As data centers shift toward supporting more digital strategies, their business will depend on capabilities of the IT ecosystem to underpin new initiatives. Requirement for more decentralized approach, to address need of digital business infrastructure, has been recognized by organizations that have embarked on the digital business journey. With rapid rise in velocity and volume of data, inefficiency increases with regard to streaming information to the data center for processing.
A new Fact.MR study foresees the data center market to bring in nearly US$ 178,000 Mn revenues by 2028-end. Reliance on the data center continues to grow, albeit more workloads are shifting to multi-tenant sites from on-premise facilities. The rise of hyperscale cloud providers, coupled with the hybrid cloud and edge data center trends will continue to influence growth of the data center market.
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Data Center Market: Installation & Construction Activities Spearhead with Surging Activities of New Data Center Construction
Construction of new data center space has demonstrated a five-year high. North American Data Centers, North America’s Data Center Industry, has reported data center projects near 300 megawatts of capacity in the region.
The surge in construction activities of new data centers is underpinned by a five-year high inventory of the industry, and which is under construction. Revenues from new data centers are likely to surpass US $ 104,000 mn by 2028-end. Although data center rebuilds currently account for significantly lower share of the data center market, an impressive growth rate, even though slightly lower than new data center construction, has been foreseen for data center rebuilds in the upcoming years.
Growth of the data center rebuilds is primarily driven by the hyperscale service providers, who are changing ways at IT space is sold and built. In the meantime, the data center providers are revamping their construction strategies for delivering capacity faster in larger chunks. Ongoing shift of the enterprise IT workloads, moving out of the on-premises data center to purpose-built facilities that are operated by colocation and cloud platforms providers, is the „trend behind the trend“.
Data Center Market: Impressive Momentum for Consulting & Integration of Data Centers
Data center consulting and integration services are likely to be in progress. This coupled with growing need for data centers across a wide range of industries wants to continue to grow well in the future. 12.5% CAGR through 2028 , which is greater than those from installation & construction.
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Data center end-user proliferation, in combination with the rise in customizability and versatility in relevant network designs, wants to continue to be a key growth determinant for data center the market. The business strategy, planning, and implementation is high-level. A robust remunerativeness in the near future „says a lead Fact.MR analyst.
The data center market wants to continue to showcase high growth in North America. The data center market wants to continue to be accounted for by the US. however, revenue from Europe will increase at a comparatively higher rate than those from North America through 2028.
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