Global Data Center Support Infrastructure Market to Reach $75.8 Billion by 2024
Wednesday, August 18, 2021
SAN FRANCISCO, Aug. 10, 2021 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Data Center Support Infrastructure - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.
FACTS AT A GLANCE
Edition: 9; Released: May 2021
Executive Pool: 19273
Companies: 39 - Players covered include ABB Limited; Eaton Corporation; Hewlett Packard Enterprise Development LP; Hitachi Vantara; Huawei Technologies Co., Ltd.; Intel Corporation; McAfee, LLC; Raritan, Inc.; Rittal GmbH & Co. KG; Schneider Electric SE; Siemens AG; Vertiv Group Corp. and Others.
Coverage: All major geographies and key segments
Segments: System (Power, Cooling, Security, Monitoring & Measurement); Vertical (BFSI, IT & Telecom, Government, Energy, Other Verticals)
Geographies: World; USA; Canada; Japan; China; Europe; France; Germany; Italy; UK; Rest of Europe; Asia-Pacific; Rest of World.
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ABSTRACT-
Global Data Center Support Infrastructure Market to Reach $75.8 Billion by 2024
Data center support infrastructure refers to the additional space and equipment that is required for supporting the operations of data centers. Support infrastructure includes power transformers, generators, uninterruptible power source (UPS), chillers or cooling systems, air distribution systems and air conditioning systems, among others. As an important functional system of the entire data center, data center support infrastructure comprises power, security, cooling, monitoring and measurement systems, all of which are designed to provide assistance in managing the data center's core operations. Amid the COVID-19 crisis, the global market for Data Center Support Infrastructure is projected to reach US$75.8 Billion by 2024, registering a compounded annual growth rate (CAGR) of 9.4% over the analysis period. United States represents the largest regional market for Data Center Support Infrastructure, accounting for an estimated 54.9% share of the global total. The market is projected to reach US$44.4 Billion by the close of the analysis period. China is expected to spearhead growth and emerge as the fastest growing regional market with a CAGR of 11.7% over the analysis period.
Growth in the global market is being fueled by the rapidly rising volumes of data that needs to be stored and processed in a reliable and efficient manner. Rapid rise in demand for cloud storage services, increase in online and mobile computing services and the rapidly rising use of social media platforms are leading to a significant increase in the number of data centers worldwide, driving market growth. The need for storage equipment is also rising in line with the growing volumes of Internet users, thus enhancing the need for data centers and support infrastructure solutions. Industries such as BFSI, IT & Telecom and Healthcare are leading adopters of data centers, which are vital for managing a broad array of mission critical applications requiring basic storage to high performance computing. North America leads the market on account of technological advances along with favorable developments in the market. Increasing adoption of eco-friendly and cost-efficient data center cooling solutions by companies across the region is anticipated to continue propelling the market in the coming years. The market in Asia-Pacific is gaining from proliferation of smart phones and penetration of the Internet that are generating significant volumes of data and creating the requirement of facilities to store and process the data.
The growing need to improve efficiency and lower power usage efficiency (PUE) is driving data centers to adopt advanced power management solutions including smart UPS (uninterrupted power supply), intelligent rack power distribution unit (PDU) and battery monitoring systems. Among the various data center power solutions, generators demand is rising due to their ability to offer longer backup for data center facilities. The need for data center power solutions is also increasing due to the growing adoption of cloud data centers and mega data centers, which consume huge quantities of power for data-intensive operations, fueling demand for power solutions. More
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Global Industry Analysts, Inc., (www.strategyr.com) is a renowned market research publisher the world`s only influencer driven market research company. Proudly serving more than 42,000 clients from 36 countries, GIA is recognized for accurate forecasting of markets and industries for over 33 years.
CONTACTS:
Zak Ali
Director, Corporate Communications
Global Industry Analysts, Inc.
Phone: 1-408-528-9966
www.StrategyR.com
Email: ZA@StrategyR.com
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SOURCE Global Industry Analysts, Inc.
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