Data Center Market Size, Share & Trends Analysis Report By Component, By Type, By Server Rack Density, By Redundancy, By PUE, By Design, By Tier Level, By Enterprise Size, By End-use, By Region, And Segment Forecasts, 2023 - 2030

Data Center Market Size, Share & Trends Analysis Report By Component, By Type, By Server Rack Density, By Redundancy, By PUE, By Design, By Tier Level, By Enterprise Size, By End-use, By Region, And Segment Forecasts, 2023 - 2030

Data Center Market Growth & Trends

The global data center market size is expected to reach USD 437.33 billion by 2030, growing at a CAGR of 10.9% from 2023 to 2030, according to a new report by Grand View Research, Inc. The growing digital transformation across industries boosts a strong data center infrastructure to support cloud computing, the Internet of Things (IoT), Artificial Intelligence (AI), and other digital initiatives. The surging usage of cloud services involves data centers providing the required infrastructure for hosting and managing cloud-based services and applications. Data centers with adequate processing and storage capacity are required to support the expanding use of data-intensive applications such as AI, machine learning, big data analytics, and virtual reality. The development of Internet of Things (IoT) devices generates vast volumes of data that must be processed and analyzed, creating demand for data centers.

Furthermore, during the pandemic, the transition to remote work and virtual collaboration underlined the need of data centers in facilitating remote access, communication, and collaboration capabilities. Because of the increasing expansion of online shopping and e-commerce platforms, data centers are required to handle transaction processing, inventory management, and consumer data storage. Data centers are essential for effective content distribution and good user experiences in streaming services, social media platforms, and online gaming.

The rising frequency and sophistication of cyberattacks highlight the importance of secure data storage and processing facilities such as those provided by data centers. Adoption of edge computing, which processes data closer to the source, necessitates the use of edge data centers to reduce latency and support real-time processing. Data centers are used in smart city initiatives to handle and analyze data from sensors, cameras, and gadgets, allowing for better urban planning and resource management. Finance, healthcare, and government all require data centers that adhere to stringent regulatory standards for data security and privacy. Some areas require that specific data be stored within their borders, necessitating the necessity for local data center infrastructure.

Data Center Market Report Highlights

The software segment is expected to register a CAGR of around 12.0% from 2023 to 2030. The rise in demand for cloud computing and hybrid cloud solutions in order to adopt digital transformation is expected to drive the data center software market.

The UPS segment is expected to register a CAGR of over 14% from 2023 to 2030. The growing need for seamless connectivity and rise in trend of remote work has necessitated the adoption of UPS systems for remote work setups and home offices, thereby driving the demand for the market.

The virtualization segment is expected to register a CAGR of around 15% from 2023 to 2030. The rise in demand for cloud computing and hybrid cloud solutions in order to adopt digital transformation is expected to drive the data center virtualization market.

The support services segment is expected to register a CAGR of around 12% from 2023 to 2030. The growing demand for skilled professionals for managing and troubleshooting data center issues is expected to drive the data center support services market.

The hyperscale segment is expected to grow at a CAGR of more than 13% from 2023 to 2030. The growing demand for big data analytics and applications has emerged the need for computational power and storage capacity, thereby fueling the demand for the hyperscale market.

The 20-29kW segment is anticipated to grow at a CAGR of over 13.0% from 2023 to 2030. The growing adoption of server consolidation and virtualization technologies across organizations to operate various virtual machines demands significant computational power, thereby enhancing the demand for the 20-29kW server rack density market.

The N+2 segment is anticipated to grow at a CAGR of more than 12.6% from 2023 to 2030. The growing demand across organizations and businesses for digital services necessitates a higher level of reliability and minimizing risk with the N+2 redundancy adoption, thereby enhancing the growth of the market.

The less than 1.2 segment is anticipated to grow at a CAGR of around 13% from 2023 to 2030. The growing focus on enhancing energy efficiency and minimizing power usage effectiveness scores is contributing to the growth of the 1.2 PUE market.

The modular segment is anticipated to grow at a CAGR of around 13.0% from 2023 to 2030. The growing need among enterprises to design data centers based on unique requirements, based on edge computing, temporary capacity, and disaster recovery is expected to propel the demand for the modular market.

The tier 4 segment is anticipated to grow at a CAGR of around 12% from 2023 to 2030. The Tier 4 data centers are growing in popularity owing to their high level of dependability, fault tolerance, and uptime guarantee, thereby surging the growth of the market.

The SME segment is anticipated to grow at a CAGR of over 12% from 2023 to 2030. SMEs are using digital transformation to improve operational efficiency, improve customer experiences, and gain a competitive advantage. This change frequently necessitates using dependable and scalable IT infrastructure, which is offered by data centers.

The technology provider segment is anticipated to grow at a CAGR of around 12% from 2023 to 2030. Digital transformation, rising data consumption, cloud usage, and emerging technologies all drive the growth of data center across diverse technological end users.

The Asia Pacific segment is anticipated to grow at a CAGR of 11.4% from 2023 to 2030. The Asia Pacific area is witnessing substantial growth in the data center business due to a variety of causes, such as digital transformation, cloud adoption, higher internet penetration, and developing economies.

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