Mega Data Center: Rising data storage demands are shaping the bright future for the mega data center market
In today’s technological environment, the growth of mega data centers is highly influenced by the rising demands for data storage. This in turn is a result of increase in use of cloud services, virtualization and mobility. The exponential growth in data production and its usage, has forced companies to look beyond the conventional data center capabilities and capacities. MarketsandMarkets has observed that currently more than 65% of the companies are experiencing the need to build new data centers and provide upgrades in its existing ones; this number is estimated to increase in the coming years. Mega data centers with its enhanced capacity and capabilities emerge as one of the most prominent solutions with features such as centralized control, high scalability, and economies of scale.
Mega data center market has already gained momentum and has witnessed the entry of technological giants such as HP, Cisco, Dell, IBM, and Intel. This market presents potential opportunities for various data center infrastructure and service vendors. It also serves the industry verticals of Banking, Financial Services and Insurance (BFSI), telecom and IT, media and entertainment, government and public, manufacturing, and education and research. The major players in the mega data center space are Cisco, Dell, EMC, Emerson Network Power, Fujitsu, HP, IBM, Intel, Juniper, and Schneider Electric.
The mega data center market is expected to gain major contribution from the telecommunication and IT segment. Other than this sector, the BFSI; and media and entertainment industry verticals are also expected to experience a significant rise in revenues. Further, the government and public, healthcare, manufacturing, and retail verticals are also expected to foresee growth. Rapidly growing data storage demands and the need to reduce capital expenditure is impacting the mega data center market across various geographical regions. MarketsandMarkets expects the region of North America to hold the largest portion of the total mega data center market. In terms of Year-Over-Year (Y-O-Y) growth, the Asia-Pacific region is expected to grow significantly. MarketsandMarkets expects the mega data center market to grow from $16.35 billion in 2014 to $20.55 billion by 2019, at a Compound Annual Growth Rate (CAGR) of 4.7% during the forecast period 2014-2019.
Related Reports:
Mega Data Center Market by Solutions: Infrastructure (Server, Storage, Networking), Support (Power, Cooling, Security), by Services (Professional, Monitoring, SI), & by Users (Cloud, Colocation, Enterprises) – Global Forecasts & Analysis (2014-2019)
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