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Managed Data Center Services Market Growth Trajectory Through 2024-2033| Microsoft Corporation, Verizon Communications Inc., AT&T Inc., Deutsche Telekom AG, Dell Inc.

The Managed Data Center Services Global Market Report 2024 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 Managed Data Center Services Global Market Report 2024, The managed data center services market size has grown rapidly in recent years. It will grow from $366.52 billion in 2023 to $422.41 billion in 2024 at a compound annual growth rate (CAGR) of 15.2%. The growth in the historic period can be attributed to growing demand for data storage, expansion of digitalization, increased reliance on data-driven processes, rising complexity of it infrastructure, globalization of businesses.

The managed data center services market size is expected to see rapid growth in the next few years. It will grow to $750.55 billion in 2028 at a compound annual growth rate (CAGR) of 15.5%. The growth in the forecast period can be attributed to cloud computing adoption, surge in data generation, need for scalable and flexible infrastructure, rising cybersecurity concerns, globalization of businesses. Major trends in the forecast period include adoption of artificial intelligence in data center management, focus on sustainable and green data centers, integration of edge computing solutions, rising demand for modular data centers, increased use of software-defined data center (sddc) solutions.

A growing number of data centers is expected to propel the growth of the managed data center services market going forward. A data center refers to a physical space used to store and manage data for various purposes, such as the development of new products and services and the maintenance and repair of existing ones. A managed data center provides full functionality, maintenance, and monitoring regarding the upkeep and health of systems without taking the responsibility of deployment, management, and monitoring. For instance, in August 2021, according to Savills Korea, a Korea-based consulting firm, the total commercial data center IT load in Korea is projected to increase by 700 MW during 2021–2023, representing 15% of the entire Asia-Pacific (APAC) capacity. Furthermore, in January 2021, according to the United States International Trade Commission, a US-based Government agency, there were 2,600 data centers in the US and nearly 8,000 new data centers globally in 2021. Therefore, the growing number of data centers is driving the growth of the managed data center services market.

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

1) By Type: Managed Storage, Managed Hosting, Managed Collocation, Other Types
2) By Deployment Type: Cloud, On-Premise
3) By Enterprise Size: Small Enterprises, Medium Enterprises, Large Enterprises
4) By End-user Industry: BFSI (Banking, Financial Services, And Insurance), Energy, Retail, Healthcare, Manufacturing, Other End-User Industries

Technological advancements are a key trend gaining popularity in the managed data center services market. Major companies operating in the managed data center services market are adopting new technologies to sustain their position in the market. For instance, in June 2022, Cisco Umbrella, a US-based company that provides versatile cloud-based security, launched new Secure Access Service Edge (SASE) data centers for security. This system combines firewalls, a secure web gateway (SWG), DNS-layer security, a cloud access security broker (CASB), and threat intelligence into a single cloud service, enabling organizations of all sizes to secure their consumers wherever they operate. Cisco Umbrella data centers are purposefully placed close to Internet exchange points (IXPs) for faster, more dependable service. These data centers are carrier-neutral and were chosen solely for their capacity to offer the highest connectivity and services to the regions they cover.

The managed data center services market report table of contents includes: