Data Center Solutions Market to Reach USD 321.8 Billion in 2023 with a Projected CAGR of 12.8% Through 2024-30, Reports MarkNtel Advisors

The Global Data Center Solutions Market size was valued at around USD 321.8 billion in 2023 and is anticipated to grow at a CAGR of about 12.8% during the forecast period of 2024-30, cites MarkNtel Advisors in the recent research report. The proliferation of digital services, cloud computing, big data analytics, and emerging technologies such as Artificial Intelligence (AI) and Machine Learning (ML) in various end-user industries like IT & Telecom, BFSI, etc., across the globe has led to a staggering increase in data processing requirements. As a result, several data centers, like Upcloud (US-NYC1), Ashburn 5 Data Center, etc., were established during the historical years. Furthermore, the growing support by the governments of countries such as the US, Canada, India, etc., for digitalization across various industries like BFSI, healthcare, and others has enhanced the requirement for robust data center infrastructure. Therefore, this has strongly contributed to the growth of the Global Data Center Solutions Market.

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Moreover, Data Center Solutions offers data integrity that is guaranteed across hybrid and multi-deployment environments through robust data-driven services that offer a seamless experience without any hurdles or disruptions. In addition to providing secure networks, these innovative data center infrastructures can scale up organizations' performance efficiency by increasing workspace areas while implementing state-of-the-art hardware architecture technologies. This results in better energy utilization at data centers as well as improved capacity planning, ultimately strengthening overall system productivity, which helps businesses remain competitive in today's global market trends.

Essentially, modern-day data center digital design is facilitated by cloud computing and has shifted its emphasis significantly toward adaptability to changing market demands while maximizing profits responsibly for business organizations. Businesses can easily estimate their financial obligations based on consumption across various digital platforms of data center solutions, thus enabling better financial predictability, further states the research report, “Global Data Center Solutions Market Analysis, 2024.”

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Global Data Center Solutions Market Segmentation Analysis

Healthcare & Life Sciences Segment Holds a Significant Market Share

Based on the end user, the market is further bifurcated into BFSI, IT & Telecom, Government & Public Sector, Healthcare and Life Sciences, Transportation, Retail, Manufacturing, Energy & Utilities, and Others. Healthcare and Life Sciences segment holds a significant share of the Global Data Center Solutions Market. In recent years, there has been a significant advancement in the healthcare sector with the advent of technologies such as electronic health records (EHRs), telemedicine, and wearable devices.

Furthermore, the COVID-19 pandemic had a huge impact on the digitalization of the healthcare sector. The escalating expansion of healthcare data, encompassing medical imaging, genomic data, and real-time patient monitoring data, has stimulated the need for robust infrastructure for data storage and processing worldwide. Hence, this has led to the establishment of various data centers across the globe, which has created requirements for data center solutions.

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North America Leads the Global Data Center Solutions Industry

The North American Data Center Solutions Market has experienced significant transformations in terms of market growth. The growth in business digitalization driven by government-led digital strategies and initiatives has positively impacted the establishment of new data centers across the region. This has boosted the demand for data center solutions across the countries.

According to Coldwell Banker Richard Ellis (CBRE), construction activity for data centers in North America reached an unprecedented level in 2023, experiencing a year-on-year growth of approximately 25% compared to 2022. Therefore, rising investments for the development of new data centers are anticipated to positively impact the North America Data Center Solutions Market in the forthcoming period.

Global Data Center Solutions Market Competitive Landscape

With strategic initiatives, such as mergers, collaborations, and acquisitions, the leading market companies, including AWS, Microsoft, Google, Equinix, Dell Technologies, Huawei, Digital Realty, NTT, KDDI, HPE, Oracle, Alibaba Cloud, IBM, Cyrusone, China Telecom, and others are looking forward to strengthening their market positions.

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Key Questions Answered in the Research Report

1. What are the industry’s overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares)?
2. What are the trends influencing the current scenario of the market?
3. What key factors would propel and impede the industry across the globe?
4. How has the industry been evolving in terms of geography & service adoption?
5. How has the competition been shaping up across various regions?
6. How have buying behavior, customer inclination, and expectations from product manufacturers been evolving during 2019-30?
7. Who are the key competitors, and what strategic partnerships or ventures are they coming up with to stay afloat during the projected time frame?

About Us:

MarkNtel Advisors is a leading consulting, data analytics, and market research firm that provides an extensive range of strategic reports on diverse industry verticals. We being a qualitative & quantitative research company, strive to deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, and individuals, among others.

We have our existence across the market for many years and have conducted multi-industry research across 80+ countries, spreading our reach across numerous regions like America, Asia-Pacific, Europe, the Middle East & Africa, etc., and many countries across the regional scale, namely, the US, India, the Netherlands, Saudi Arabia, the UAE, Brazil, and several others.

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