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Modular data center market valuation from the service component segment is estimated to exceed USD 18 billion by 2032. The soaring demand for modular data center services can be attributed to the increasing need for global infrastructure management software and excellent features, such as easy maintenance, short integration & deployment periods, and minimized commissioning time. The rapid adoption of cloud data centers across the defense sector will also proliferate industry growth.
Amidst the ongoing transition from traditional to cloud-based models, enterprises are rapidly adopting scalable and flexible options, offering significant business prospects for the providers of modular data center services. For instance, in February 2023, Amazon Web Services (AWS) announced collaboration with the U.S. Department of Defense (DoD) under the Joint Warfighting Cloud Capability (JWCC) deal, allowing the agency to deploy self-contained data centers featuring built-in AWS infrastructure.
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Modular data center market size from BFSI applications is projected to expand at over 15% CAGR between 2023 and 2032. The dynamic digitization of the banking and finance sectors is a key factor driving the demand for modular data centers. The advent of digital banking and mobile wallet has spurred the number of online payments performed per day. According to India’s Ministry of Electronics and IT, in 2021-22, more than 88 billion digital transactions were performed. In India, Bharat Interface for Money-Unified Payments Interface (BHIM-UPI) emerged as the most preferred payment method with over 8 billion transactions in January 2023. Hence, modular data centers are playing a vital role in monitoring mobile banking payments, indicating substantial scope for expansion.
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North America modular data center market size is poised to reach over USD 20 billion by 2032. North America is a major hub for data center development thriving on the solid footprint of cloud service providers. Moreover, the rising 5G adoption in the U.S. and Canada is fostering demand for modular data centers for faster deployment, cost-effectiveness, and scalability. Hefty government investments for the development of robust 5G networks in the region will also have a positive impact on the industry outlook. Furthermore, the ongoing IoT, AI, and 5G advancements in edge computing for enabling advances in modern edge data centers will complement industry expansion.