Modular Data Center Market size to surpass $70 Bn by 2032
Published Date: April 2023
Modular Data Center Market size is projected to exceed USD 70 billion by 2032, according to a recent research report announced by Global Market Insights Inc.
The rapid adoption of cloud computing solutions across small and medium-sized enterprises (SMEs) will accelerate the demand for modular data center services and solutions in the forthcoming period. With the rising number of SMEs worldwide, the need for cloud computing has emerged stronger as it eliminates the need to purchase expensive hardware, and licensed software. Small enterprises are increasingly using cloud services to conduct core business activities and improve their overall efficiency. Some of the benefits offered by cloud services to SMEs include reduced IT expenditures, competitive advantages, unlimited computing power, and easy access to data and applications. As per the United Nations (UN), 90% of all businesses are micro, small, and medium-sized enterprises (MSMEs), responsible for 50% of the global GDP. Hence, the rising focus on small-sized businesses will complement the modular data center industry outlook.
Advancements in modular data center all-in-one solutions to propel industry share
In terms of revenue, the modular data center market share from the solution component segment crossed USD 10 billion in 2022. The surging demand for modular data center solutions can be accredited to the myriad of benefits offered by solution providers such as high-power density, in-house fabrication, and an all-in-one format. Several industry players are introducing highly advanced modular solutions for data centers.
Surging adoption of 4G and 5G technologies across IT & telecom applications to propel industry trends
Based on application, the modular data center market size from the IT & telecom sector is projected to expand at over 18% CAGR between 2023 and 2032. Modular data centers have gained significant momentum in the IT and telecom sector in the recent past owing to their ability to reduce downtime and improve the efficiency of business operations. The ongoing efforts toward digitization are encouraging telecom providers worldwide to adopt modular applications for optimizing their networks and providing digital services, which rely on sophisticated computing and massive storage capacities. Additionally, the rapid uptake of 4G technologies and the increasing developments in 5G networks will further drive modular data center applications in the IT and telecom sectors.
Browse key industry insights spread across 265 pages with 281 market data tables and 33 figures & charts from the report “Modular Data Center Market Size By Component (Solution [All-in-One, Individual], Service [Consulting, Installation & Deployment, Maintenance & Support]), By Application (BFSI, IT & Telecom, Energy, Government & Defense, Healthcare, Industrial), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2023 – 2032”. , in detail along with the table of contents: https://www.gminsights.com/industry-analysis/modular-data-center-market
Hefty government funding to augment APAC modular data center market expansion
Asia Pacific modular data center market size is slated to exceed USD 20 billion by 2032 due to the rapid influx of international and government-led investments for the development of robust 5G networks. Multiple telecom giants in the region are collaborating with service providers for the deployment of edge data centers, fostering lucrative scope for modular data center industry development.
Expansion of product portfolios to boost modular data center industry outlook
Dell, Inc., Hewlett-Packard Enterprises Development LP, Huawei Technologies Co., Ltd., IBM Corporation, Schneider Electric SE, Vertiv Co., Cisco Systems, Inc, CommScope Inc, Eaton Corporation, ZTE Corporation are some of the leading companies in the global modular data center market. These companies are focusing on the expansion of their product portfolios to help reach a wider customer base.
