The cloud data center global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Cloud Data Center Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The cloud data center market size has grown rapidly in recent years. It will grow from $23.80 billion in 2023 to $27.22 billion in 2024 at a compound annual growth rate (CAGR) of 14.4%. The growth in the historic period can be attributed to increased scalability, increased cost efficiency, increased agility and flexibility, improved security posture, and green initiatives.
The cloud data center market size is expected to see rapid growth in the next few years. It will grow to $46.04 billion in 2028 at a compound annual growth rate (CAGR) of 14.0%. The growth in the forecast period can be attributed to edge-to-cloud orchestration, increasing cybersecurity threats, quantum computing development, a rise of containerization, increasing data privacy regulations, AI (artificial intelligence) and machine learning workloads, and 5G deployment. Major trends in the forecast period include data sovereignty and compliance, containerization, hybrid and multi-cloud strategies, AI-optimized infrastructure, and serverless computing.
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Scope Of Cloud Data Center Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Cloud Data Center Market Overview
Market Drivers –
The increase in demand for cloud services is expected to propel the growth of the cloud data center market going forward. Cloud services encompass a wide range of computing resources and applications that are readily available, on-demand, and delivered via the Internet. The demand for cloud services is increasing due to their scalability, accessibility, and security benefits. A cloud data center supports cloud services, offering the essential infrastructure and resources for hosting, processing, and delivering on-demand computing capabilities via the Internet. For instance, in December 2023, according to the European Commission (EC), a Belgium-based executive body of the European Union (EU), 42.5% of enterprises in the European Union (EU) bought cloud computing services. Primarily utilized for email, file storage, and office software, this marked a 4.2% increase compared to 2021. Therefore, the increase in demand for cloud services is driving the growth of the cloud data center market.
Market Trends –
Major companies operating in the cloud data center market are focused on introducing new data center facilities, such as cyber cloud data centers, to boost their revenues in the market. Cyber cloud data centers refer to a data center infrastructure that integrates cloud computing services and emphasizes robust cybersecurity measures. For instance, in March 2023, Acronis International GmbH, a Switzerland-based software company, opened a new cyber cloud data center in Toronto, Canada. This is one of more than fifty cyber-cloud data centers in Acronis’ global network. The Toronto data center provides Acronis partners with access to a wide range of cyber protection solutions, giving them the ability to create new services and offerings that can more efficiently and effectively manage their clients’ data protection needs with faster access, continuous data availability, and the added benefit of data sovereignty.
The cloud data center market covered in this report is segmented –
1) By Service Model: Infrastructure As A Service Model, Platform As A Service-Model, Software As A Service-Model
2) By Deployment Model: Public, Private, Hybrid
3) By Organization Size: Small And Medium Enterprise, Large Enterprises
4) By End-Users: Banking, Financial Services And Insurance (BFSI), Colocation, Energy, Government, Healthcare, Manufacturing, Information Technology (IT) And Telecommunication, Other End-Users
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Regional Insights –
North America was the largest region in the cloud data center market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the cloud data center market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the cloud data center market are Alphabet Inc., Microsoft Corporation, Verizon Corporation, Reliance Group, Amazon Web Services Inc., International Business Machines Corporation (IBM), Oracle Corporation, KDDI Telehouse, Fujitsu Limited, Eaton Corporation plc, Tencent Cloud, Lumen Technologies, HCL Technologies Limited, Alibaba Cloud, Schneider Electric SE, Google Cloud, Equinix Inc., General Electric Company, China Unicom, Capgemini SE, China Telecom Americas Inc., Cyxtera Technologies Inc., QTS Realty Trust Inc., Flexential Corp., AT&T Inc.
Table of Contents
1. Executive Summary
2. Cloud Data Center Market Report Structure
3. Cloud Data Center Market Trends And Strategies
4. Cloud Data Center Market – Macro Economic Scenario
5. Global Cloud Data Center Market Size and Growth
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32. Global Cloud Data Center Market Competitive Benchmarking
33. Global Cloud Data Center Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Cloud Data Center Market
35. Cloud Data Center Market Future Outlook and Potential Analysis
36. Appendix
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