According to a comprehensive research report by Market Research Future (MRFR), “Data Center Life Cycle Services Market, By Component, By Deployment, By Data Center Type, By Service and By Vertical - Forecast 2030”, the market is anticipated to acquire a valuation of approximately USD 300 Billion by the end of 2030. The reports further predict the market to flourish at a robust CAGR of over 13% during the assessment timeframe.
Data Center Life Cycle Services Market Analysis
The data center life cycle services market will touch USD 300 billion at a 13% CAGR by 2030, as per the latest Market Research Future report.
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Leading players profiled in the global data center life cycle services market report include-
- Schneider Electric (France)
- HP (U.S.)
- IBM Corporation (U.S.)
- Vertiv (U.S.)
- Nlyte Software (U.S.)
- Optimum Path, Inc. (U.S.)
- Raritan (U.S.)
- CA Technologies (U.S.)
- FieldView Solutions, Inc. (U.S.)
- Huawei Technologies Co. Ltd. (China)
Key players have incorporated several strategies to stay at the forefront such as mergers and acquisitions, geographic expansions, new product launches and development, partnerships, contracts, collaborations, joint ventures, as well as different research development activities.
Increasing Amount of Data Consumed to Boost Market Growth
The exponential growth in the total quantity of data consumed via various organizations, individuals, and industries will boost market growth in the assessment period.
Alluring Features to offer Robust Opportunities
Various alluring features offered by data center life cycle services will offer robust opportunities for the market over the forecast period. The reduction of prices via eliminating server’s manual checks as well as other data center assets, increased productivity, increased efficiency, decreased human efforts are adding market growth.
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Concerns Related to User’s Data Privacy to act as Market Restraint
The concerns related to the user’s data privacy are a huge issue that may deter market growth.
High Maintenance Expenditure to act as Market Challenge
The high maintenance expenditure may act as a market challenge over the forecast period.
The worldwide data center life cycle service market is bifurcated based on type, services, deployment, vertical, and component.
By data center type, the global data center life cycle services market is segmented into large data center, mid-size data center, and enterprise data center.
By services, the global data center life cycle services market is segmented into professional services, integration services, managed services, IT asset disposition services, cloud services, and others.
By deployment, the on-cloud deployment will lead the market over the forecast period.
By vertical, the global data center life services market is segmented into entertainment and media, healthcare, BFSI, telecommunication and IT, government, manufacturing, and others.
By component, the global data center life cycle services market is segmented into hardware and software.
COVID-19 Impact on Data Center Life Cycle Services Market
The spread of COVID-19 epidemic has compelled businesses all over the world to shift their operations to a digital platform. Cloud storage has indeed emerged as a highly valuable resource for many organizations in terms of efficiently managing and storing data. The impositions of both the lockdown as well as social distancing trends were major concerns in order to keep the data safe. Businesses in data center life cycle services have thus played an important role for organizations. This in turn has boosted market growth.
North America to Sway Data Center Life Cycle Services Market
During the forecast period, North America is expected to grow the fastest. It is also expected to dominate the global market in the coming years. Rapid technological advancements and the development of key players in developed countries like the United States and Canada. The North American regional market is indeed likely to grow significantly during the forecast period. The United States Canada are expected to drive the growth of the market. This is due to the existence of a huge number of cloud-based data centers in that region, as well as technological advancements. In addition, the region possesses a well-established infrastructure, which allows for greater device penetration and, ultimately, high speed connectivity, and is expected to be a major factor in the growth of the data center life cycle services market.
APAC to Have Significant Growth in Data Center Life Cycle Services Market
During the forecast period, the Asia-Pacific region is expected to have the quickest growth in the market. Rising key players in developing countries such as India and China are fueling market growth. Asia Pacific is expected to see relatively faster adoption and thus grow at a higher CAGR in the assessment period. Within Asia Pacific, the data center life cycle services market is expected to contribute more rapidly to revenue growth, owing to rising demand for cloud-based and cost-effective services in countries like Japan, China, India.
Europe to Have Favorable Growth in Data Center Life Cycle Services Market
Europe, including Germany, France, the United Kingdom, is expected to drive the growth of the market. The presence of advanced infrastructure in Europe, combined with rising adoption of technology technological advancements in a number of countries, is driving market growth in the data center life cycle services market. The Europe region's small medium enterprise market contributed a larger share of revenue to the data center life cycle services market. After the Americas, Europe is predicted to hold the maximum market share. The key players are mostly concentrating their efforts on investments in research and development. The investments will help them to strengthen their position in the global market and generate higher and higher revenue in the coming years.
On the contrary, the Middle East Africa will grow at a slower pace than the rest of the world. The main reason is the lack of development among key players and the slow advancement of technology.
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