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Mega Data Center Global Market Report 2024: A $37.74 Billion Projected Market by 2028, Registering a Compound Annual Growth Rate (CAGR) of 6.8%
DUBLIN, Feb. 19, 2024 /PRNewswire/ -- The "Mega Data Center Global Market Report 2024" has been added to ResearchAndMarkets.com's offering.
The mega data center market size has grown strongly in recent years, growing from $27.28 billion in 2023 to $28.98 billion in 2024 at a compound annual growth rate (CAGR) of 6.2%. Historical growth in mega data centers can be attributed to various factors, including a significant surge in data generation and storage needs, businesses undertaking digital transformation initiatives, the increased adoption of cloud computing and the demand for scalable solutions, the emergence of big data analytics leading to higher processing requirements, as well as the globalization of businesses, necessitating improved data accessibility.
The mega data center market size is expected to see strong growth in the next few years, reaching $37.74 billion in 2028 at a compound annual growth rate (CAGR) of 6.8%. Anticipated growth in the upcoming period for mega data centers is linked to several factors, including a heightened focus on edge computing architecture, a rising demand for hybrid and multi-cloud deployments, an increased need for robust data security and compliance measures, the integration of artificial intelligence into data processing, and the rapid expansion of Internet of Things (IoT) applications.
The upward trajectory of the mega data center market is significantly propelled by the increasing adoption of cloud services. These services encompass a diverse array of IT resources and professional offerings delivered over the internet on demand. Crucially, mega data centers serve as foundational pillars for cloud computing, supplying the essential infrastructure and requisite services. The burgeoning digitalization trend further augments the demand for cloud services.
The burgeoning adoption of IoT technology stands as a key driver propelling the growth of the mega data center market. IoT, an interconnected network of physical devices communicating and exchanging data via the internet, relies heavily on mega data centers for crucial support. These centers provide the fundamental infrastructure, scalability, connectivity, and data management capabilities essential for IoT's efficacy. Projections from March 2023, sourced from Exploding Topics, anticipate a surge to 25.4 billion IoT devices by 2030. This escalating adoption of IoT technology significantly contributes to the expansion of the mega data center market. Technological advancements represent a prominent trend gaining traction within the mega data center landscape.
The main types of solutions of mega data centers are IT infrastructure olutions, support infrastructure solutions, power solutions, cooling solutions, security solutions, and management software. IT infrastructure solutions refer to the set of hardware, software, network, and other technological components and services that are necessary to create and maintain an organization's IT infrastructure. They provide various services, such as system integration, monitoring services, and professional services. They are used for various applications, such as cloud providers, colocation providers, and enterprises, and by various end-users, such as BFSI (banking, financial services, and insurance), banks, telecommunications and computing, government, media and entertainment, public, and others.
The mega data center market includes revenues earned by entities through cloud services, network infrastructure, and storage services. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included. The mega data centers market consists of sales of computing equipment and servers. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Report Scope
Markets Covered:
1) by Solution Type: IT Infrastructure Solutions; Support Infrastructure Solutions; Power Solutions; Cooling Solutions; Security Solutions; Management Software
2) by Services: System Integration; Monitoring Services; Professional Services
3) by Application: Cloud Providers; Colocation Providers; Enterprises
4) by End-User: BFSI (Banking, Financial Services, and Insurance); Telecommunications and Computing; Government; Media and Entertainment; Public; Other End-Users
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita
Data Segmentation: Country and regional historic and forecast data, market share of competitors, market segments
Companies Profiled
- IBM
- Cisco Systems Inc.
- Dell Technologies Inc.
- Fujitsu Ltd.
- Intel Corporation
- Heweltt Packard Enterprise Company
- Schneider Electric SE
- Juniper Networks Inc.
- EMC Corporation
- Apple Inc.
- Meta Platforms Inc.
- Google LLC
- Amazon Inc.
- Microsoft Corporation
- Oracle Corporation
- Equinix Inc.
- NTT Ltd.
- Digital Realty Trust Inc.
- Huawei Technologies Co. Inc.
- Lenovo Group Limited
- Siemens AG
- NetApp Inc.
- Hitachi Vantara Corporation
- Wistron Corporation
- Quanta Computer Inc.
- ABB Ltd.
- Samsung Electronics Co. Ltd.
- Vantage Data Centers LLC
- EdgeCore Networks Corp.
- Sentinel Data Centers
- MegaPort Ltd.
- QTS Realty Trust Inc.
For more information about this report visit https://www.researchandmarkets.com/r/sea18a
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SOURCE Research and Markets
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