PUNE, India, August 9, 2017 /PRNewswire/ --
According to a new market research report "Data Center Interconnect Market by Type (Product, Software, Services), Application (Real-Time Disaster Recovery and Business Continuity, Workload (VM) and Data (Storage) Mobility), End User, and Geography - Global Forecast to 2023", published by MarketsandMarkets™, the Data Center Interconnect (DCI) market was valued at USD 3.19 Billion in 2016 and is expected to reach USD 6.41 Billion by 2023, at a Compound Annual Growth Rate (CAGR) of 10.04% during the forecast period.
Browse 66 Market Data Tables and 52 Figures spread through 156 Pages and in-depth TOC on "Data Center Interconnect Market - Global Forecast to 2023"
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Factors such as increasing focus on reducing high power consumption and bandwidth requirements in data centers; growing demand for disaster recovery, data backup, and business continuity; and rapid migration to cloud-based services are driving the growth of the data center interconnect market.
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The services segment is expected to witness the highest growth rate during the forecast period
The market for the services segment is expected to grow at the highest CAGR between 2017 and 2023. The services segment is further segmented into professional services (consulting and integration, and training, support, and maintenance) and managed services, which directly maximize the network performance and uptime, minimize the operational risk, and significantly reduce capital and operational expenditures, thus resulting in a high demand for services in the data center interconnect market.
The market for the shared data and resources/server high-availability clusters (geoclustering) application is expected to grow at the highest rate during the forecast period
The demand for the deployment of DCI for the geoclustering application is increasing due to the benefits provided for the protection of workload across globally distributed data centers. Moreover, the geoclustering application enables both active and standby servers to maintain their own storage with an independent, synchronized copy of the cluster data. In addition, the geoclustering application supports business continuity by providing location-independent load balancing and failover.
The market for the enterprises segment is expected to grow at the highest rate during the forecast period
The market for the enterprises segment, including banking and finance, utility and power, healthcare, media and entertainment, retail and E-commerce, and others (transportation, education, manufacturing, and insurance), is expected to grow at the highest rate between 2017 and 2023. The real-time disaster recovery and business continuity application is the most common application for the enterprise DCI. The application for dynamic workload scheduling and data replication, particularly for cloud-based applications, is expected to have growth areas for enterprise data center interconnect in the future.
The market in Asia Pacific is expected to grow at the highest rate during the forecast period
Asia Pacific (APAC) is expected to be the fastest-growing region for the data center interconnect market, followed by Rest of the World (RoW) during the forecast period. The APAC region, on the other hand, has some of the fastest-growing economies, such as China and India, which are witnessing a rapid penetration of Internet and cloud computing. The high adoption of modern technologies increases the demand for data centers to manage the high volume of generated data, thus making APAC the fastest-growing regional market for DCI.
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The major players operating in the DCI market include Ciena Corporation (US), Huawei Technologies Co., Ltd. (China), Nokia Corporation (Finland), Juniper Networks, Inc. (US), Infinera Corporation (US), ADVA Optical Networking SE (Germany), Cisco Systems, Inc. (US), Fujitsu Ltd. (Japan), and Extreme Networks, Inc. (US).
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