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:
- IT infrastructure
- Power management system
- Mechanical construction
- General construction
- Security solutions.
- North America
- South America
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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.
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