Research Nester recently published report titled “Data Center Service Market: Global Demand Analysis & Opportunity Outlook 2027” delivers detailed overview of the data center service market in terms of market segmentation by service, by data center, by end user industry and by region.
The data center service market is segmented by service into infrastructure, cloud and hosting, networks, consulting, virtualization & others; by data center into tier 1, tier 2, tier 3, and tier 4; by end user industry into BFSI, healthcare, retail, manufacturing, IT & telecom and others and by region. The data center service market is anticipated to record a CAGR of 14.69% during the forecast period i.e. 2019-2027.
Growing IT sector across the developing countries is one of the key factors showing potential of propagating the data center service market globally. For instance, India is generating high revenue in this sector offering services like software testing that helps in checking the quality of software product and services.
On the basis of regional analysis, the data center service market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market of Asia Pacific is anticipated to dominate the data center service market owing to the development of IT and telecom sector.
Growing Technological Advancement
Latest technologies require data storage handling system and processing system. Additionally, demand for cloud technologies is increasing owing to lower cost and maintenance. It offers data for clients that can be easily accessed at any time and on any device. Therefore, it is helping small and medium sized businesses to fairly grow. Rising demand for data security and data handling system is expected to propel the growth of data service center market globally.
Rising Demand for Online Retail
Online retail has been playing a key role in e-commerce. Rising demand for e-commerce activities is a key factor propelling the demand for data center service market globally. The availability of superior, robust and reliable telecom connectivity used helps in the growth of the corporation. Additionally, rising demand for digital marketing is anticipated to derive the growth of data center service market globally.
Growing IT Sector
IT sector is growing rapidly across the growing economies of the world. Business process outsourcing is a significant component of this sector that helps in providing business solution to various private organizations. Especially in Asian countries, abundant availability of skilled manpower is helping in the development of expanding the business operations. This sector is showing potential to propel the data center service market globally.
However, data privacy is anticipated to be a key restraint for the growth of data center service market during forecast period. Additionally, the cases of cyber-crime has been found to increase across the globe. Data security is one of the primary concerns for growing businesses over the world. With the rise in economy, cooperate firms are taking appropriate precautions to effectively recover any data that is lost. Therefore, data privacy is one of the factors restraining the growth of data center service market globally.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
This report also provides the existing competitive scenario of some of the key players of the data center service which includes company profiling of Cap Gemini, HCL Technologies, Cisco Systems, Fujitsu Ltd, Reliance Industries, IBM, Hewlett Packard Enterprise Company and other prominent players. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the data center service market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.