Allied Market Research published a report about the data center market. The report shows that the global data center industry was valued at $187.35 billion in 2020 and is expected to reach $517.17 billion by 2030. This means a growth at a CAGR of 10.5% from 2021 to 2030. The report details the data center market by component, type, enterprise size, global opportunity analysis, and industry forecast, 2021–2030.
COVID-19 affects both negatively and positively the market
While the increase in demand from cloud computing network solutions influenced the global data center market adversely, the dependency on data centers across healthcare, government, and BFSI sectors provides a mixed positive impact.
The rise in penetration of high-end cloud computing in enterprises and investment in data center applications across the globe drive the growth of the global data center market. However, the surge in data privacy concerns paired with the growing demand for managed services impedes the growth. On the contrary, the rise in penetration of the Internet of Things, hybrid and multi-cloud architecture solutions are expected to pave the way for lucrative opportunities in the industry.
North America holds a significant share
Geographically, North America which has a large number of data centers across the province dominated the market with a significant share in 2020. Due to increasing data center traffic in countries like India, Australia, and China, the market across Asia-Pacific will have the fastest CAGR of 14.7% from 2021 to 2030.