Market for mega data centers to hit $20.55 billion by 2019, says research firm
A new report, Mega Data Center Market by Solutions, defines and segments the mega data center market into various sub-segments with an in-depth analysis and forecasting of revenues.
The report by MarketsandMarkets also identifies the factors driving this market, various restraints and opportunities impacting it, along with the technology roadmap and adoption trends.
The study includes 95 market data tables and 57 figures spread across 239 pages, says a news release issued by MarketsandMarkets.
In the present scenario, businesses and organizations are more inclined towards utilization of advanced technologies, to simplify their day-to-day operations. Due to technological advancements, usage of high speed Internet smart devices is rapidly increasing, thus enhancing the demand for data access anytime from anywhere, says the news release.
Also, huge amount of data is created continuously with increasing adoption of social networking platforms, richer Internet connectivity and availability of smart devices. This exponential growth of data is creating huge demand for data storage, giving rise to the emergence of very large-scale data centers. Mega data centers, with their huge capacity to store and scale along with benefits such as economies of scale and better manageability, are emerging as efficient solutions against the growing demand of data storage.
The market for mega data centers is driven by many factors, including associated cost benefits, increasing cloud and co-location services and better economies of scale. Mega data centers require infrastructure equipment and facilities in large scale, offering its owners significant reduction in the operational cost. But, huge initial investments, low availability of resources and high probability of error multiplication are some of the factors presenting challenges in this market. In-spite of such challenges, various organizations have already adopted or are initiating the adoption of mega data centers.
MarketsandMarkets broadly segments the mega data center market on the basis of solutions: IT infrastructure solutions which include servers, storage, and networking; and support infrastructure solutions which include power, cooling, security solutions, and management software. They research firm also segments by services: system integration, monitoring services, and professional services; by end-users: cloud providers, co-location providers, and enterprises; by verticals: government; banking and financial services and insurance (BFSI); IT and telecom; media and entertainment; by regions: North America (NA), Europe, Asia Pacific (APAC), Middle East and Africa (MEA) and Latin America (LA).
MarketsandMarkets forecasts the mega data center market to grow from $16.35 billion in 2014 to $20.55 billion by 2019. In terms of regions, NA and EU are expected to be the largest market in terms of revenue contribution, while APAC is expected to experience an increase in market traction, during the forecast period.