Global Data Center Market 2020-2024 | Adoption of Multi-Cloud and Network Upgrades to Support 5G Will Boost Market Growth | Technavio

Technavio has announced its latest market research report titled global data center market 2020-2024 (Graphic: Business Wire)

LONDON--()--The data center market is expected to grow by USD 304.87 billion during 2020-2024, according to the latest market research report by Technavio. Request a free sample report

Enterprises are embracing multi-cloud architecture to prevent data loss or downtime due to localized component failure, ensure security compliances, and meet workload requirements. Multi-cloud can comprise of public, private, or hybrid strategies deployed based on specific requirements. Also, the investments in communication network infrastructure upgrades are growing to facilitate a smooth transition from 3G and 4G to 5G. Investments in 5G testing and deployment are driven by an increase in data traffic, owing to the rising adoption of IoT devices and big data analytics, as well as the growing consumption of online video and audio content. All these factors will drive the upgrade of the existing data center network infrastructure and also lead to an increase in new data centers, thus driving the growth of the market.

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As per Technavio, the increased adoption of HPC across enterprises will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.

Data Center Market: Rise in Adoption of Edge Computing

Edge computing has gained immense popularity over the last few years owing to its multiple advantages. Edge computing can reduce latency and improve server response, as the stored content is close to the client machine.  Thus, the deployment of edge computing is increasing significantly, which is expected to stimulate the demand for edge data centers. The trend of edge data centers deployment will continue during the forecast period, led by the advent of IoT and 5G technologies. Thus, the rise in the adoption of edge computing will be one of the vital data centers market trends that will drive market growth during the forecast period.

“Development of IoT, AI, and big data ready infrastructure and increased adoption of HPC across enterprises will have a significant impact on the data center market growth during the forecast period,” says a senior analyst at Technavio.

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Data Center Market: Segmentation Analysis

This market research report segments the data center market by component (IT infrastructure, power management system, mechanical construction, general construction, and security solutions), and geography (North America, APAC, Europe, South America, and MEA).

The North American region led the data center market in 2019, followed by Europe, APAC, South America, and MEA. During the forecast period, the North American region is expected to register the highest incremental growth due to factors such as increasing adoption of cloud services by enterprises across industries.

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Some of the key topics covered in the report include:

Component segmentation

  • IT infrastructure
  • Power management system
  • Mechanical construction
  • General construction
  • Security solutions.

Geographic segmentation

  • North America
  • APAC
  • Europe
  • South America
  • MEA

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

  • Vendors covered
  • Vendor classification
  • Market positioning of vendors
  • Competitive scenario

About Technavio

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.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

Release Summary

The data center market is expected to grow by USD 304.87 billion during 2020-2024, according to the latest market research report by Technavio

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/