The data center market will power at a double- digit compound annual growth rate by the end of this decade, to reach USD 602.76 billion by 2030, as stated by a market research institution, P&S Intelligence.
The exponential surge in data is the key factor contributing to the growth of the industry. Consequently, the requirement for these centers is mushrooming because of the expanding necessity for mobile, social, analytics, and cloud services all over the world.
The recent boom in the use of social media has enhanced the structuring of new centers, for storing the data.
IT infra is the largest revenue contributor, as it includes storage, server, and network infra, the backbone of these kinds of facilities. The requirement for it will grow even more in the future with about 11.4% rate, permitting it to uphold its position.
At the time of the pandemic, cloud acceptance is quickening at a fast pace. The IT industry has been colocating to hyperscale data centers, to allow improved data management, having understood the importance of what can be done with the help of data.
Colocation has helped the organizations globally regarding their IT infra requirements. Understanding the necessity for an efficient center to decrease barriers for clienteles and for higher profit margins, improved storage of data and management, advanced security, and dependability, IT corporations are moving in the direction of hyperscale data centers.
IT and telecom sector are the dominated the data center market. With the swift acceptance of trailblazing technologies, for example cloud, IoT, and AI, generation of data is ballooning. This data comes from mobile internet use, network equipment, server logs, personnel records, billing actions, and social networks.
For storing such huge data, IT and telecom corporations are renting space at these third-party facilities. With these, IT and telecom companies can store huge amounts of data and raise or decrease the capacity of storage as required.
North America had the largest share in the industry, and it will continue like this in the years to come as well, with USD 191.80 billion.
The U.S. is the leader of the pack, and it will grow at a rate of 8.4%, because of the existence of quite a few data centers.
There are more than 2,600 such centers in the U.S., many of which are in northern California, where there are a number of IT firms, for example Google, Uber, Facebook, Yelp, and Twitter, are headquartered. The region also has cutting-edge, widespread, and efficient tech infra.
The exponential surge of data around the world has led to an increased demand for data centers.
This post was created with our nice and easy submission form. Create your post!