Ubiquity of technologies including broadband and cloud has driven demand for higher IT capacity for enhancing existing capacity of data centers. Rise of third-platform technologies, coupled with the developments in the IoT and cloud computing, has led the requirement for enhanced level of computational data and networking sources. This has resulted in scaling up of existing infrastructure to make it more flexible and modular. Transforming current hardware-defined infrastructure to one that is software-defined has triggered expansion of the hyperscale data centers. These data centers provide superior efficiency, and will continue to record an impressive rise in the near future.
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Current and future prospects of the data center market are likely to remain significantly influenced by dynamic economic scenario across developed and developing markets, along with several macroeconomic aspects. Progressive technological advancements in the IT industry and fluctuating economy result in demand for solutions with high computational power and flexibility in the data center industry, leading to outsourcing activities as a consequence.
Internet of things (IoT) has gained traction as the backbone of advancements, thereby creating the need for managed services across commercial sectors. This has remarkably spurred demand for efficient deployment of software for effective management & storage of data. Additionally, the trend of green data center has gained increased momentum against the backdrop of the incessant requirement for energy and cost savings. Enhanced efficiency and sustainability are top agendas emphasized in the green data center development.
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A recently developed Fact.MR study foresees the data center market to record a splendid 12.0% CAGR over the period of forecast, 2018 to 2028. Installation & construction services will continue to account for bulk share of the data center market, albeit growing at a slightly lower CAGR than consulting & integration services. Revenues from installation & construction data center are poised to exceed US$ 145,000 Mn by 2028-end.
The report envisages North America to reign supreme in the data center market, with Europe following the suit. Albeit Asia-Pacific excluding Japan (APEJ) stands at the third lucrative position for data center market, revenue growth in the region is foreseen to register a relatively higher rate through 2028.
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Data Center Market: Third-Party Providers to Observe an Upward Trend
With rising adoption of cloud technologies for supporting the internet economy, coupled with the acceleration of digital content-driven consumption, an uptake of the third-party data centers has been observed since the recent past. The trend falls in line with the growth of the cloud-managed service sector. As clouds are soaring in prominent markets, enterprises continue to introduce new software as a service (SaaS), and platform-as-a-service (PaaS), meanwhile focusing on reducing the cost and dependence on Infrastructure as a service (IaaS). This will further impact growth prospects of the data center market.