The global data center market is estimated to reach revenues of around $174 billion by 2023, growing at a CAGR of approximately four percent during the forecast period.
The increasing focus in the adoption of advanced technologies such as cloud-based services and IoT will augment the growth of the global data center market. The construction of hyper-scale facilities spanning with an area of over 200,000 square feet across the globe will create lucrative opportunities for leading vendors operating in the global market. Companies such as Facebook, Google, Amazon Web Services (AWS), and Microsoft are amongst the largest companies focusing on the development of modular and hyper-scale data center construction facilities.
The extensive use of 4G LTE technology and upcoming 5G rollouts will increase the internet penetration and drive the growth of the global market. The emergence of edge computing is one of the primary factors fostering facilities development in secondary data center markets across the globe. Additionally, the immense use of services such as cloud, big data, IoT and artificial intelligence is prompting operators to adopt high-performance mission critical IT infrastructure in the global data center market.
The increasing efforts to reduce power consumption, carbon emissions, and promote operational efficiency will attribute to the adoption of energy-efficient infrastructure in the global market. The leading vendors are investing in development of design innovation and implementation of advanced cooling systems is propelling the growth of the market. T The research report also offers market size in square ft area and power capacity in megawatts (MW) across geographies.