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Data Center Services Market Analysis
- Report ID: GMI2195
- Published Date: Jan 2023
- Report Format: PDF
Data Center Services Market Analysis
In terms of revenue, data center services market share from large data centers is anticipated to reach USD 30 billion by 2032. Large businesses are turning to private cloud, driving the industry growth. Cloud and large data centers as a service are gaining significant momentum owing to advanced capabilities such as massive volume of data handling capacity as compared to on-premise counterparts. The increasing data traffic and the growing need for the management of large data volumes are further encouraging the adoption of large data centers for their high processing speeds.
Data center services market valuation from training services is estimated to reach USD 10 billion by 2032. The surging demand for training services can be attributed to their ability to help organizations ensure efficiency in operating their data centers and preventing downtime. The ongoing advancements in cloud technology, the increasing complexity of data centers, and the emergence of disruptive trends, such as virtualization are compelling the need for effective training across IT infrastructures. The deployment of sophisticated technologies that necessitate adequate technical expertise in order to maximize operational efficiency and prevent errors will also drive business expansion.
Energy application segment in the data centers services market is estimated to register more than USD 8 billion by 2032. Data centers and data transmission networks are considered to be a major source of energy demand on account of the rapid digitization worldwide. Additionally, the energy sector is witnessing a surge in the development of energy-efficient and portable IT infrastructure facilities, subsequently adding to the need for modular data centers.
The demand for data center services across the BFSI sector is expected to pick up pace through 2032 due to the growing dependence on cloud technologies. The rising penetration of smartphones, the increasing number of internet users, and the advent of digital payment solutions are also accelerating the focus on data centers for better management of stacks of data volumes.
Europe data center services market revenue is projected to expand at over 10% CAGR between 2023-2032. Europe is experiencing an upsurge in the adoption of data center facilities in the manufacturing sector driven by the robust presence of major automobile giants in the region. The thriving automotive industry along with fast-paced technological advancements such as autonomous cars and driverless vehicles will offer lucrative business prospects for data center service providers.
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Data Center Services Market Scope
