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Data center market size to increase by USD 615.96 billion between 2021 and 2026; Increasing adoption of edge computing identified as a key trend - TechnavioNEW YORK, March 16, 2023 /PRNewswire/ -- The data center market size is forecast to grow by USD 615.96 billion between 2021 and 2026, and the growth momentum will be accelerating at a CAGR of 21.98% during the forecast period. The increasing adoption of edge computing is identified as the key trend in the market. Edge computing reduces latency and improves service performance as the stored content is close to the client machine. The technology was initially implemented by SMEs. However, the growing demand for efficient and secure data management has also increased its implementation in large enterprises. The increasing popularity of this technology has encouraged many vendors to develop new edge computing platforms to help clients with their data management capabilities. All these factors are positively influencing the growth of the market. For more insights on the market size (2022 to 2026) – Request a report sample Regional Analysis By region, the global data center market is segmented into North America, APAC, Europe, South America, and MEA. North America will account for 35% of market growth during the forecast period. The increasing adoption of cloud services by enterprises across the US and Canada is driving the growth of the data center market in North America. Company Profiles The data center market report includes information on the key products and recent developments of leading vendors, including:
Market Dynamics The growth of the market is driven by factors such as the rise in adoption of multi-cloud and network upgrades to support 5G, demand planning and expansion by hyperscalers, and the growing demand among SMEs. However, cybersecurity issues will hinder the growth of the market. Competitive Analysis The competitive scenario categorizes companies based on various performance indicators. Some of the factors considered include the financial performance of companies over the past few years, growth strategies, product innovations, new product launches, investments, and growth in market share among others. Request a Sample Market Segmentation
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Browse through Technavio's Information Technology Market Reports, ToC & LoE Table of contents: 1. Executive Summary 2. Market Landscape 3. Market Sizing 4. Five Forces Analysis 5. Market Segmentation by Component 6. Customer landscape 7. Geographic landscape 8. Drivers, Challenges, and Trends 9. Vendor Landscape 10. Vendor Analysis About Us Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios. Contact Technavio Research
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