Data Center Services Market Growth Trajectory Through 2024-2033

Data center with server racks in a corridor room. 3D render of digital data and cloud technology

The Data Center Services by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Data Center Services, The data center services market size has grown rapidly in recent years. It will grow from $68.44 billion in 2023 to $78.51 billion in 2024 at a compound annual growth rate (CAGR) of 14.7%. The growth in the historic period can be attributed to rising adoption of digitalization, an increase in the number of data centers, strong economic growth in emerging markets and growing demand for cloud computing.

The data center services market size is expected to see rapid growth in the next few years. It will grow to $131.45 billion in 2028 at a compound annual growth rate (CAGR) of 13.8%. The growth in the forecast period can be attributed to an increase in usage of ott (over-the-top) services, increasing internet penetration, increasing volume of structured and unstructured data and increasing 5g subscriptions. Major trends in the forecast period include new technology advancements, micro data center services, hyper-scale data centers with clean energy, focus on off-grid data center-as-a-service and partnerships and collaborations.

The growing adoption of digitalization is expected to be a significant driver for the growth of the data center services market. The adoption of digitalization is increasing due to the need for increased productivity, lowering operational costs, enabling faster decision-making, increasing efficiency, technological advancements, push towards digitalization from stakeholders, and others. The increasing adoption of digitalization will generate a huge amount of data that needs to be stored, driving the need for data centers. This need for data centers will create a huge demand for data center services to set up, manage, and operate data centers. For instance, according to a survey conducted among 1,200 CXOs and decision-makers in 9 countries by Fujitsu and published in August 2021, during the pandemic, 82% of respondents from offline organizations had accelerated the digital transformation into their business. During the pandemic, digital became the default mode of living and working, making organizations adapt to digitalization by creating remote work environments and digitalizing customer services. Therefore, the growing adoption of digitalization will drive the data center services market.

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The data center services market covered in this report is segmented –

1) By Services: Installation And Integration Services, Training Services, Consulting Services, Maintenance And Support, Other Services
2) By Type: Small Data Centers, Medium Data Centers, Large Data Centers
3) By Infrastructure Type: Servers, Storage And Networking
4) By Application: BFSI (Banking, Financial Services And Insurance), Colocation, Energy, Government, Healthcare, IT (Information Technology) And Telecom, Manufacturing, Other Applications

Technological advancement is a key trend gaining popularity in the data center services market. The market is witnessing the implementation of next-generation technologies into data center services such as automation, blockchain technologies, the internet of things, 5G mobile broadband, cloud computing, artificial intelligence, data analytics, and others. These advancements offer advanced features, automation, efficiency, reliability, and reduced cost for data center service providers. Major companies operating in the data center services market are focused on providing technologically advanced data center services to strengthen their market position. For instance, ABB, a Sweden-based automation company offers ABB Ability Data Center Automation systems for energy saving and sustainability. These are industrial automation systems for use in data centers. These run continuously and reliably, optimizing operational processes and lowering the risk of downtime, and eliminating waste caused by unnecessary or premature maintenance.

The data center services market report table of contents includes:

1. Executive Summary
2.Data Center Services Market Characteristics
3. Data Center Services Market Trends And Strategies
4.Data Center Services Market analysis
5.Data Center Services Market Size And Growth
6.Data Center Services Segmentation
7.Data Center Services Regional And Country Analysis
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27.Data Center Services Competitive Landscape And Company Profiles
28.Data Center Services Key Mergers And Acquisitions
29.Data Center Services Future Outlook and Potential Analysis

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