Cloud Data Center Market Size

Cloud Data Center Market Size

Cloud Data Center Market size was valued at more than USD 20 billion in 2022 and is estimated to grow at over 10% CAGR from 2022 to 2032 attributed to rapid digitalization across various industries.

The accelerating use of cloud services owing to the emergence of technology as a core element has transformed the way organizations operate. Several industry participants are migrating data to the cloud to simplify data monitoring, optimize processes, meet consumer compliance demand, and expand a company's digital presence, which is contributing to cloud data center market growth. Furthermore, in addition to the ongoing efforts for data localization at the legislative level and increasing e-commerce and digital payments, along with extensive Big Data implementation and AI penetration, is anticipated to raise the demand for cloud data centers between 2023 and 2032.