Data Center Services Market Size

Data Center Services Market Size

Data Center Services Market size was worth more than USD 15 billion in 2022 and is projected to depict over 15% CAGR from 2023-2032. The steady rise in the number of data center construction activities worldwide will complement the industry outlook.

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Emergence of disruptive technologies and trends, such as robots, driverless cars, and AI/IoT-enabled devices has led to a massive rise in data traffic, fueling the need for new data centers. Lately, the strong digitalization of work and lifestyles has transformed the global economy and society radically with the rapid penetration of smartphones, connected devices, surveillance systems, and high-resolution tools. As a result, the preference for stronger network bandwidth has emerged stronger with soaring demand for high computing power and larger storage capacity data centers.

Surge in privacy breaches to hamper data center services industry outlook

The increase in data security concerns, cyber attacks, and privacy breaches could restrain the data center services market outlook in near future. The rising dependence on digital systems for work, education, entertainment, and even day-to-day transactions is fueling the susceptibility to cybersecurity breaches. The sophistication of cyberattacks has resulted in record-high public data breach incidents over the past few years.