Transparency Market Research (TMR) has published a new market study on the global data center equipment market for the period from 2014 to 2020. The report, titled “Data Center Equipment Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 – 2020”, forecasts the market for data center equipment to reach US$72.07 billion by 2020. TMR analysts state that the global data center equipment market was worth US$32.15 billion in 2013 and will display a 12.9% CAGR between 2014 and 2020.Digitalization of data across various industry sectors has created unparalleled demand for data storage and data backup facilities.
This, along with factors such as the need for security of data and improved efficiency, is driving demand for data centers.Investing in the IT infrastructure of an organization is a key focus of business executives across several industries such as BFSI, healthcare, telecommunications, and pharmaceuticals, among others. The data center sector has proven to be resilient and dynamic, with growing demand for digitalization of data, mushrooming social media, and innovations in cloud computing.
Increased use of cloud services, Big Data, and virtualization in the overall network ecosystem is driving growth of the data center equipment market. Additionally, increasing need for accessing and storing large volume of data is boosting the demand for data center equipment. However, due to the high energy requirement of data center equipment, effective power and cooling infrastructural facility is needed to support the equipment.
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As such, meeting governmental compliances and environmental orders regarding data center cooling systems remains the biggest challenge for most organizations.Data center equipment is widely used across several end-use industries, due to proliferation of digital data and for further effective data management to extract strategic information. Some of the end-use sectors of data equipment include telecommunications, manufacturing, government, healthcare, retail, and business enterprises, among others.
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