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Data Center Market to Grow by 3.6x with Increasing Application in BFSI Sector
The latest study published by Fact.MR on the data center market provides insights into factors influencing change in consumer behavior and consumption patterns along with their impact on the sales. It highlights crucial insights into factors driving demand outlook across various sources on the basis of type, application, consulting, and integration across seven major regions.
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Nov 29, 2021, 08:00 ET
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NEW YORK, Nov. 29, 2021 /PRNewswire/ — Fact.MR – A Market Research and Competitive Intelligence Provider: As per latest report by Fact.MR, the global data center market is anticipated to total US$ 77 Bn in 2021. Increasing demand for new data centers across IT & telecom and banking, finance, service & investment (BFSI) sectors is driving the growth in the market.
With growing adoption of artificial intelligence (AI) and internet of things (IoT) for project management and security implementation across BFSI and IT sectors, sales are expected to surge. On account of this, the data center market is estimated to reach US$ 279 Bn by 2031.
Development of hyper scale and advent of green data centers across emerging economies such as India, Japan, and China is boosting the market. As these green data centers operate on energy-efficient technologies and do not contain obsolete systems, governments across India and China are providing extensive funding for the robust development.
For instance, as per Indian Brand Equity Foundation, in September 2021, the Indian government announced to build a cyber-lab for the ‘Online Capacity Building Program on Crime Investigation, Cyber Law and Digital Forensics’ to strengthen cyber security capabilities.
Also, as per National Investment Promotion & Facilitation Agency, India is one of the most preferred market for setting-up Global Capability Centers (GCCs), employing over 1 million professionals. In 2020, the data center industry attracted investment of over US$ 396 Mn in India, and the per capita data consumption is expected to hit 25 GB/month by 2025.
Such slew of developments in the emerging economies are expected to drive the growth in the data center market. In response to this, the global data center market is expected to expand at over 13.8% CAGR over the forecast period of 2021 and 2031, estimates Fact.MR.
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In terms of type, the new data centers segment is expected to dominate the market, surpassing US$ 200 Bn by 2031. Growth in the segment is driven by growing demand for hyper-scale data centers, advent of green data centers across East and South Asia, and need for energy-efficient technologies.
"With growing development in digital infrastructures and rising demand to develop green data centers equipped with cutting-edge energy efficient technologies in India and China, key players operating in data center market are likely to generate growth opportunities across East & South Asia," says a Fact.MR analyst.
Key Takeaways from the Data Center Market Analysis
To learn more about Data Center Market, you can get in touch with our Analyst at
As per Fact.MR, top five players in the global data center market are anticipated to account for over 35% to 40% of market share in 2021.
Leading players operating in data center market are focusing on collaboration, mergers, and acquisition to gain a competitive edge in the industry. They are also collaborating with government in East and South Asia to tap into emerging markets potential such as India, China, and Japan, to increase their sales.
Some of the leading players in the market profiled by Fact.MR are:
More Valuable Insights on Data Center Market
A recently published report by Fact.MR provides a detailed analysis on the global data center market, analyzing forecast statistics between 2021 and 2031. The study reveals growth projections in data center market with detailed segmentation:
Key Questions Covered in the Data Center Market Report
Explore Fact.MR’s Coverage on the Technology Domain –
Data Center Containment Solution Market- The increased adoption of cloud computing and heavy content applications by businesses throughout the world is predicted to increase demand for data centers. This, in turn, is likely to contribute to the growth of the data center containment solutions market. As a result of the Covid-19 epidemic, SMEs and major businesses are migrating to digital platforms, and governments are focused on digitization due to the need for smart cities, which is projected to boost the data center containment solution market.
Data Collection and Labeling Market– The wide range of sectors that use data collection and labelling creates a strong demand for data collection and labelling products and services. Smart device penetration in developing countries such as India, Indonesia, and China offers promising data collection and labelling opportunities. During the projection period, the worldwide data collection and labelling market would grow by 7.0 times. Indirectly, the data collection and labelling business is growing due to rising consumer desire for ease through technology. Smart speakers, for example, use data collection and labelling to teach AI software that responds.
Data as a Service (DaaS) Market– The market for Data as a Service is fueled by the fact that it is one of the most cost-effective and agile services for businesses that are utilized to provide amazing services to their consumers. Due to its application in offering data-driven solutions for research teams, sales professionals, marketers, and others from companies, demand for Data as a Service is likely to grow significantly throughout the projection period. Furthermore, businesses are implementing Data as a Service to build a cross-channel consumer understanding in order to learn more about customers, such as consumer buying behavior, consumer data analysis, and so on.
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