Data Center Infrastructure Market is expected to exceed USD 90 billion by 2024. Rising digitalization and the demand for online services are making it vital for the operators to store and efficiently manage the data generated, which is expected to offer an impetus to the data center infrastructure market growth. Government initiatives aiding SME growth and the rapid increase in the organizational data are fueling the growth of data centers. This is causing a rise in the expenditure on infrastructure technologies such as cooling, power, and networking, among others.
Increasing use of the facilities across several industrial sectors, such as healthcare, manufacturing, IT & telecom, and BFSI, to store the growing amount of data generated will drive the data center infrastructure market growth. The rise in the demand for the storage of a high volume of data coupled with improving efficiency across the business operations is providing several growth opportunities to the industry. The BFSI sector is making huge investments in the deployment and installation of the facilities, to keep pace with the competitors owing to the agility and cost-effectiveness offered by these facilities. Growing need for data processing and information security across several sectors will fuel the data center infrastructure market growth.
The market is witnessing new advancements in power and cooling solutions. The implementation of technologies, such as grid computing and cloud computing in facilities, is expected to boost the data center infrastructure market growth. The use of technological solutions, such as analytics and cloud, has compelled organizations to focus on these facilities to store information. Companies are launching new and innovative solutions to expand their market presence.
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Colocation data center infrastructure market is gaining popularity among organizations to reduce the expenses associated with maintaining and building facilities. Colocation facilities accounted for over USD 10 billion in 2017, provide end users server security, storage, cooling, power, and networking equipment. Constructing a new facility drains the company’s money, time, and labor owing to which the colocation market is witnessing a growing demand. Colocation vendors are providing improved maintenance and services to businesses to maximize their productivity, which is enabling enterprises to focus on their core business with efficient data management.
Speaking of the regional aspect, it is prudent to mention that Asia Pacific is at the vanguard of data center infrastructure industry. In fact, Asia Pacific market is forecast to witness nearly 14% CAGR over 2018-2024. The growth can be primarily attributed to the increased penetration of digital technologies among consumers as well as businesses across this belt. Rapid industrialization along with robust growth in outsourcing activities especially in countries like India and China have led to a subsequent increase in organizational data traffic. In a bid to accommodate this huge traffic, companies are increasingly investing in new facilities, thereby proliferating APAC data center infrastructure industry.
Key companies in the data center infrastructure market comprise Vertiv Group Corporation, Submer Technologies Sl., Schneider Electric S.E., Rittal GmbH & Co., KG, Panduit Corporation, Eaton Corporation PLC, Dell, Inc., Degree Controls, Inc., ClimateWorx International, Black Box Corporation, Asetek, ANEXIA Internetdienstleistungs GmbH, and Airedale International Air Conditioning Ltd., among others. Intense competition is being witnessed in the industry, with several large businesses and SMBs implementing innovative and efficient infrastructure facilities for their businesses.