Data Center Transformation Market Worth $24.13 Billion by 2030: Grand View Research, Inc.

SAN FRANCISCO, Dec. 14, 2022 /PRNewswire/ -- The global data center transformation market size is anticipated to reach USD 24.13 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to grow at a CAGR of 13.5% from 2022 to 2030. The demand for data center transformation is likely to grow owing to increasing investment in data center technologies.

Key Industry Insights & Findings from the report:

• In terms of service, the consolidation services segment accounted for the maximum revenue share of 36.2% in 2021. This can be attributed to the increased demand for disaster recovery and data backup services by various organizations. The consolidation service segment is likely to expand at the highest CAGR over the forecast period. This is due to digitalization across the Banking, Financial Services, and Insurance (BFSI) sector.
• Based on end-user, the cloud service provider segment dominated the market with a share of 46.2%% in 2021 and is also expected to grow at the highest CAGR over the forecast period. This can be attributed to the growing demand for flexible data center space.
• Based on vertical, the IT and telecommunications segment dominated the market with a share of over 27.0% in 2021 and is expected to grow at a CAGR of over 12.0% during the forecast period. This can be attributed to a shift toward transformation in IT and telecom data centers. The BFSI segment is expected to grow at the highest CAGR over the forecast period.
• North America held the largest share of 44.9% in 2021 and is expected to retain its position over the forecast period. This can be attributed to the presence of prominent players, such as Cisco Systems, Inc. and Dell, Inc. Moreover, the early installation of data centers, as well as massive investments in technological advancements, are the major factors driving market expansion in this region. Asia Pacific is anticipated to expand at the highest CAGR of over 14.0% over the forecast period owing to government policies and initiatives like Digital India.
• In October 2022, Cognizant and Qualcomm jointly opened a digital transformation center. The firms are expanding their collaboration to accelerate enterprise digital transformation. The collaboration will integrate Cognizant's experience in IoT, 5G, cloud, and big data with Qualcomm Technologies' edge devices, AI, and 5G networking solutions.

Read 100-page market research report, "Data Center Transformation Market Size, Share & Trends Analysis Report By Services (Consolidation, Optimization, Automation), By End-user, By Vertical, By Region, And Segment Forecasts, 2022 - 2030", published by Grand View Research.

Data Center Transformation Market Growth & Trends

The COVID-19 pandemic had a positive impact on the data center transformation market. The leading players increasing inclination toward data security as a result of the pandemic is creating growth prospects for the data center transformation market. Businesses worldwide are making efforts to expedite their digital transformation initiatives to remain viable. Consumers are spending most of their time online. This has led to a rise in demand for data centers with increased storage. The pandemic made it difficult for businesses of all sizes, particularly small ones, to maintain on-premises servers. And they have begun migrating to the cloud. This has resulted in a surged requirement for cloud servers and infrastructures.

The rising adoption of Internet-enabled gadgets worldwide has resulted in a significant increase in the volume of data collected by industries. The introduction of 5G technology, which provides fast data streaming speed, is anticipated to encourage a large number of customers to use digital services. This has prompted IT and telecommunication service providers to deploy enhanced data storage and transportation systems.

Data Center Transformation Market Segmentation

Grand View Research has segmented the global data center transformation market based on service, end-user, vertical, and region:

Data Center Transformation Market - Service Outlook (Revenue, USD Million, 2017 - 2030)

• Consolidation Services
• Optimization Services
• Automation Services
• Infrastructure Management Services

Data Center Transformation Market - End-user Outlook (Revenue, USD Million, 2017 - 2030)

• Cloud Service Providers
• Colocation Providers
• Enterprises

Data Center Transformation Market - Vertical Outlook (Revenue, USD Million, 2017 - 2030)

• BFSI
• IT & Telecommunications
• Government & Defense
• Energy
• Manufacturing
• Others

Data Center Transformation Market - Regional Outlook (Revenue, USD Million, 2017 - 2030)

• North America
• U.S.
• Canada
• Europe
• U.K.
• Germany
• France
• Italy
• Asia Pacific
• China
• India
• Japan
• Latin America
• Brazil
• Mexico
• Middle East & Africa

List of Key Players in the Data Center Transformation Market

• IBM Corporation
• Cisco Systems, Inc.
• Dell EMC
• Microsoft Corporation
• Schneider Electric SE
• HCL Technologies
• Cognizant
• Accenture
• Atos
• Wipro

Check out more related studies published by Grand View Research:

• Data Center Interconnect Market - The global data center interconnects market size is expected to reach USD 21.7 billion by 2030, growing at a CAGR of 12.6% from 2022 to 2030, according to a new report by Grand View Research, Inc. The emphasis by the data center providers on latency, throughput, streamlined operations, intelligence, security, and maintenance is expected to drive the growth of the industry during the forecast period. The growing need to reduce the number of hops, and subsequently, the points of failure while routing the internet traffic is also expected to drive the demand for the market over the forecast period.
• Modular Data Center Market - The global modular data center market size is anticipated to reach USD 75.7 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to witness a CAGR of 17.2% from 2022 to 2030. The demand for modular data centers is expected to grow owing to growing digital transformation, increasing demand for data analytics, and expansion of edge computing. The COVID-19 pandemic had a positive impact on the modular data center market.
• Data Center Virtualization Market - The global data center virtualization market size is expected to reach USD 23.14 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 16.0% from 2022 to 2030. The necessity for centralized and unified management of data centers and the growing need to lower operating costs for businesses and increase business agility are major drivers of the market.

Browse through Grand View Research's Next Generation Technologies Industry Research Reports.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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