Data Center Market is Estimated to Outreach US$517.17 Billion by 2030

Data Center Market is Estimated to Outreach US$517.17 Billion by 2030

The widespread proliferation of the IoT and cloud computing has provided stellar growth for the data center market

The global data center market was valued at US$187.35 billion in 2020 and is projected to reach US$517.17 billion by 2030, registering a CAGR of 10.5% from 2021 to 2030, according to Allied Market Research. Datacenter physical facility in an enterprise is designed to share IT operations and equipment to store, process, and disseminate data and applications. Further, a data center is an enterprise based on a network of computer applications and storage solutions intended to share information and data. The shift in traditional on-premises physical servers to the virtual network-based data center, owing to the advancement in multi-cloud computing, is driving the growth of data centers globally. The modern data center in an enterprise can communicate with multiple sites, both cloud computing and on-premises. 

A data center is a physical facility used to contain critical applications and data by companies. The design of a data center is based on a network of computers and storage resources that allow shared applications and data to be supplied. Routers, switches, firewalls, storage systems, servers, and application delivery controllers comprise the key components of a data center design. Because these parts store and manage critical business data and applications, data center safety is essential for the design of data centers. To support the center's hardware and software, data center components require important infrastructures. These include power subsystems, continuous supplies of power (UPS), ventilation, cooling systems, fire removal, backup generators, and external network connections. 

The widespread proliferation of the internet of things and cloud computing has provided stellar growth avenues for data centers. Both, developed and emerging economies have witnessed the impressive progression of data centers with companies spending on developing new centers for data storage and deployment. Connected systems have added fuel to market growth and created ample opportunities for data center companies and data center knowledge.

Disclaimer: Analytics Insight does not provide financial advice or guidance. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. You are responsible for conducting your own research (DYOR) before making any investments. Read more here.

Related Stories

No stories found.
Analytics Insight