There is a Continuous growth in “Mega Data Center Market” in last five years and also continued for the forecasted period of 2018 to 2023. Mega Data Center industry report analyses the outline of the global market with respect to major regions and segmented by types and applications. Mega Data Center Market covers top manufacturers, product scope, market overview, market opportunities, market risk, market driving force, technological advancement, distributors, traders, dealers, research findings.
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Mega data center market was worth USD 18.82 billion in 2017 and is projected to grow to USD 24.25 billion by 2023 at a CAGR of 4.32% during the period 2018 – 2023. The report discusses the various types of solutions provided by mega data centers. While the regions considered in the scope of the report include North America, Europe, and various others. The study also emphasizes on how growing demand for colocation services is affecting the market.
Server workloads continue to grow with each passing year, which has shown an adverse effect on IT operations. It is estimated that there is an increase of 35% data growth rate per year, and this has resulted in many organizations double their on-premises storage over a three-year period, leading to over-builds that drive to wasted capital across infrastructure, power, and staffing costs. Increasing digitization globally is expected to contribute value to different end-user industries, such as BFSI, IT services, which is rising need for mega data centers worldwide. Various governmental bodies have been identified to facilitate Industry 4.0 by deploying IoT and cloud services, which is further expected to drive the mega data center market.
Rising Demand for Data Center Colocation to Drive the Market
Colocation acts as an attractive solution as it allows organizations to solve a problem without substantial upfront costs, which is one of the reasons expected to drive the growth of this market. Data center colocation is expected to see significant growth over the forecast period owing to the benefits provided by these data center over conventional ones. Colocation center has been identified to provide more significant scalability, which acts as a perfect solution for small companies that are looking to expand, as well as firms that are aiming to increase their market share. In addition to that, colocation data centers also offer enhanced flexibility, like data analytics and improved data security making it a very viable alternative for in-house data centers.
Rising Demand from BFSI Sector to Augment the Growth
Banking and finance sector is one of the largest generators of data, and the need for a data center to regulate the cost of operations is a primary driver. Finance and banking structures use data centers to store the customer records, employee management, transactions, electronic banking services, such as remote banking, telebanking, self-inquiry, which need data centers for their functioning. Data centers are believed to be an infrastructure that is the future of finance. Many institutions have created private cloud system to accommodate massive network, storage, and server capacities to support their retail financial centers, ATMs, and active online accounts.
Many banks maintain their own data centers, but the trend is found to be changing owing to the fluctuations in the profits for the banks. Also, maintaining a data center is a cumbersome process owing to the cost drain on the IT, real estate and operations as any data center requires proper cooling, security and power facilities. This can act as a challenge for the BFSI industry during the forecast period.
Growing Demand from Asia-Pacific to Drive the Market
The growing demand for high-density, redundant facilities throughout China is precipitating a shift in the design and development of the country’s data centers. China has 50 internet users per 100 population indicating scope for lot of development and the connectivity ecosystem is made up of 73 colocation data centers, 52 cloud service providers and 0 network fabrics. However, power, space and IP transit all cost more in China emphasizing the difficulties in maintaining a data center. Similarly, in India, 9.5% of the GDP is contributed by the digital economy, the digital economy includes USD 25,518 million fixed line telephone subscriptions and 1011.054 million mobile telephone subscriptions, indicating a lot of scope for development of data centers. Moreover, owing to regulatory and security reasons, a number of organizations in India, especially from the BFSI sector, are not allowed to host their data in a data center that is out of the country. As a result, the data center providers are setting up local data centers in India indicating the growing mega data center facilities in India.
Key Developments in the Market
• December 2017 – Iron Mountain Inc. completed the acquisition of the U.S. operations of Phoenix-based IO Data Centers LLC. It bought IO for USD 1.34 billion. The acquisition includes up to an additional USD 60 million based on future performance
• October 2017 – QTS Realty Trust, an international provider of data centers, managed to host and cloud services announced it had commenced development of a mega data centre campus in Ashburn, Virginia
The Major Players include – CISCO SYSTEMS INC, DELL, FUJITSU, HEWLETT-PACKARD, IBM CORPORATION, INTEL CORPORATION, JUNIPER NETWORKS, INC., and VERIZON, amongst others.
Major Regions: – US, Canada, UK, Germany, France, Italy, China, India, Japan, Brazil,Mexico, Argentina, UAE, South Africa, Saudi Arabia
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Major Points Covered in Table of Content of Mega Data Center Market:
- Research Methodology
- Executive Summary
- Key Inferences
- Market Overview
- Mega Data Center Market Dynamics
- Market Segmentation
- Competitive Landscape
- Key Players
- Future of the Market
And Many More….
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