LONDON--(BUSINESS WIRE)--The global data center maintenance and support services market is expected to post a CAGR of more than 12% during the period 2020-2024, according to the latest market research report by Technavio. Request a free sample report
Many cloud service providers partner with wholesale colocation providers as building data centers and server storage systems requires significant investments. Colocation services also help cloud service providers to easily offer customized space and efficient storage facilities for their clients. For instance, Equinix’s colocation services enable cloud solution providers such as Amazon.com Inc., Oracle, Google, and Microsoft to locally interconnect with their customers across the world. Therefore, the increasing demand for wholesale colocation from global cloud service providers is one of the key factors driving the growth of the market.
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As per Technavio, the increase in the implementation of IoT across industries will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2020-2024.
Global Data Center Maintenance and Support Services Market: Increase in Implementation of IoT Across Industries
The growing need for faster and effective communication has increased the penetration of IoT devices among various industries. This is leading to the generation of huge volumes of data that has necessitated the need for advanced data centers. Many companies are making significant investments in the construction of data centers to cater to the growing demand from their customers. With the increase in the number of data centers, the demand for data center maintenance and support services will increase significantly during the forecast period.
“Advances to support AI, ML, and DL technologies and the growth of hyperscale cloud vendors will further boost market growth during the forecast period,” says a senior analyst at Technavio.
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Global Data Center Maintenance and Support Services Market: Segmentation Analysis
This market report segments the global data center maintenance and support services market by geography (APAC, Europe, MEA, North America, and South America) and end-user (IT and telecom, BFSI, government and defense, healthcare, and others).
The North American region led the market in 2019, followed by Europe, APAC, South America, and MEA respectively. During the forecast period, the North American region is expected to maintain its dominance over the market. This is due to the growing demand for data centers and servers led by increasing investments by hyperscale cloud providers.
Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Geographic comparison
- Key leading countries
- Landscape disruption
- Competitive scenario
- Vendors covered
- Vendor classification
- Market positioning of vendors
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