The global data center interconnect market is anticipated to surpass a valuation of USD 6.5 billion, attaining a CAGR of 11% during the forecast period (2017-2023), Market Research Future (MRFR) unveils in a detailed report.
The market is enduring an exacting period with its robust growth coming to an abrupt halt in light of the COVID-19 pandemic. MRFR report on market highlights the future prediction and the growth alternatives that can be created.
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By type, the data center interconnect market is segmented into service, hardware, and software. Of these, the services segment is predicted to gain prominence. The segment is further classified into managed service and professional service, which aids in maximizing the network performance and uptime, reduces capital and operational costs and minimizes operational risk. Such benefits are likely to propel the market in the service segment.
By application, the data center interconnect market is segmented into real-time disaster recovery and business continuity, workload & data storage mobility, and shared data and resources/server high-availability clusters.
By end users, the data center interconnect market is segmented into enterprise, CNPs/ICPs, CSPs, government, and others. Of these, the enterprise segment is predicted to command the major share. The segment includes utility and power, banking and finance, media and entertainment, healthcare, retail and e-commerce, and others. Data application and application for dynamic workload scheduling, specifically for cloud-based applications, is predicted to augment the market’s growth in the enterprise segment.
Geographically, Data Center Interconnect Market Covid 19 spans across Europe, Asia Pacific, North America, and Rest of the World (RoW).
Considering the global scenario, Asia Pacific is likely to command the highest CAGR due to the presence of nations like Japan, India, and China. The rapid adoption of the internet and cloud infrastructure are likely to impact the regional market positively. Surging adoption of latest technologies and soaring R&D activities, concerning rising demand for data center is estimated to fuel the data center interconnect market in the APAC. The recent growth witnessed in R&D in the field of technology, coupled with the surging demand for data center in order to practice cost-effective data management, will positively reflect on the growth of the regional market.
North America is anticipated to exhibit a healthy growth rate, mainly due to the existence of the latest technologies and surging investments in the region. Huge availability of next-generation technologies, coupled with the growing investments from market players, are promoting the market growth. Utilization of data centers across business verticals is influencing the market growth to a large extent. The growth is majorly driven by the U.S., where data centers manage the high volume of data generated.
The key players operating in the global data center interconnect market include Ciena Corporation (US), Huawei Technologies Co., Ltd. (China), Nokia Corporation (Finland), ADVA Optical Networking SE (Germany), Cisco Systems, Inc. (the US), Juniper Networks, Inc. (the US), Fujitsu Ltd. (Japan), Extreme Networks, Inc. (the US), and Infinera Corporation (US).
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