Market players are focusing on capacity expansion to attain a competitive edge.
DUBAI, UAE / ACCESSWIRE / February 9, 2021 / FMI states in its recent study on the Data Center that the market will record an impressive CAGR of more than 7.4% through 2031. Demand for the data center is anticipated to surge in remote working calls and the need for rapid mobilization of cloud computing to cope with a rise in demand for data.
"Market players rely on multiple expansion strategies to deepen penetration across lucrative markets. These strategies include product launches, collaborations with key players, partnerships, acquisitions, and strengthening of regional and global distribution networks." says the FMI analyst.
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Data Center Market - Important Highlights
- The small data center type is anticipated to dominate due to the presence of a large number of small and medium enterprises.
- By industry, the media and entertainment industry is expected to grow during the period 2021-2031
- By hardware component, data center racks are likely to be the most sought after, due to the growing number of colocation facilities.
- The U.S. is anticipated to be highly lucrative owing to increasing demand from hyperscale cloud providers.
Data center Market - Driver
- An increasing number of Data center colocation is expected to drive the growth of the market.
- Increasing internet bandwidth and use of data consumption is boosting the growth of the data center market.
- The deployment of IoT will generate the need of processing large quantities of data which is anticipated to contribute to the growth of the market.
Data center Market - Restraints
- High manufacturing and sourcing costs are likely to be a key constraint for the market.
- Improvement in service delivery models by organizations is hindering the growth of the market.
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COVID-19 Impact on Data center Market
Amid the pandemic, growth is expected to accelerate as the COVID-19 outbreak has pushed organizations towards digital transformation, thanks to the rise in remote work calls and the need to rapidly mobilize cloud computing to cope with an increase in data demand. During the pandemic, countries around the world reported intensified data demand, underlining the importance of digital technology and data centers. Due to these factors, the demand for data centers is likely to increase.
Competitive Landscape
The data center market players are leaning towards the expansion of the production facilities besides opting for strategies to attain a competitive edge. These strategies include product launches, key player collaborations, partnerships, acquisitions, and strengthening of regional and global distribution networks.
For instance, NTT Communications launched its new Global Data Centers division in January 2020, which includes e-shelter, Gyron, Netmagic, NTT Indonesia Netcenter, RagingWire, and other data center companies that were previously part of the NTT Communications brand. A few of the key companies functioning in the global market include IBM Corporation, Cisco System, Inc., HPE, Dell Technologies, Hitachi Ltd, NTT Communications, Schneider Electric.
Table Of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply Side Trends
1.4. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Key Market Trends
3.1. Key Trends Impacting the Market
3.2. Product Innovation / Development Trends
3.3. Key Use-Case Analysis & Product Potential
3.4. Key Success Factors
4. Data Center Market - Pricing Analysis
4.1. Pricing Analysis, By Solution
4.2. Global Average Pricing Analysis Benchmark
5. COVID-19 Pandemic Crisis Impact Analysis
5.1. Impact of COVID-19 Pandemic Crisis on Data Center Market Growth
5.1.1. Pre-COVID-19 Analysis
5.1.2. Post-COVID-19 Analysis
5.2. Expected Recovery Scenario
5.3. Key Action Points for Data Center Solution Vendors
6. Market Structure Analysis
6.1. Market Analysis by Tier of Companies (Data Center)
6.2. Market Concentration
6.3. Market Share Analysis of Top Players
6.4. Market Presence Analysis
6.4.1. Regional footprint by Players
6.4.2. Product footprint by Players
6.5. Channel footprint by Players
7. Global Data Center Market Demand (in Value or Size in US$ Mn) Analysis 2016-2020 and Forecast, 2021-2031
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About the Study
The study offers readers a comprehensive assessment of the data center market. Global, regional, and national-level analysis of the latest trends influencing the market is covered in this FMI report. The study provides insights based on product type (hardware and software), application( IT & Telecom, BFSI, Manufacturing, Healthcare, Media & Entertainment, and others) and across key regions (North America, Latin America, Europe, China, Asia Pacific, Middle East & Africa).
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About Future Market Insights
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, the global financial capital, and has delivery centers in the U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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