The Data Center Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Data Center Global Market Report 2024, The data center generator market size has grown strongly in recent years. It will grow from $6.18 billion in 2023 to $6.57 billion in 2024 at a compound annual growth rate (CAGR) of 6.2%. The growth in the historic period can be attributed to rise in data consumption, data center growth, reliability requirements, digital transformation, power outage risks, increased energy efficiency..
The data center generator market size is expected to see strong growth in the next few years. It will grow to $8.31 billion in 2028 at a compound annual growth rate (CAGR) of 6.1%. The growth in the forecast period can be attributed to increased data consumption, focus on business continuity, renewable energy integration, shift to edge computing, energy efficiency standards.. Major trends in the forecast period include focus on reliability and durability, adoption of fuel efficiency technologies, rapid deployment solutions, predictive maintenance, remote and unmanned data centers..
Increasing growth in data volumes is expected to propel the data centers market going forward. Data refers to information that has been translated into a form that is easy to process and use. Today, all types of organizations process and store large quantities of information every day, and therefore they store the same in data centers; as a result, the volume of data has been growing exponentially, thereby driving the data centers market. For instance, in December 2022, according to a report published by Firebolt Analytics Inc., an Israel-based data software company, companies are experiencing a surge in data volumes, with an average increase from 107 TB (terabytes) in 2021 to an expected 213 TB in 2023. This growth reflects the ongoing expansion in the scale of data management within organizations. Therefore, increasing growth in data volumes is driving the growth of the data center market.
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The data center market covered in this report is segmented –
1) By Type: Colocation, Hyperscale, Edge, Other Types
2) By Component: Solution, Services
3) By Enterprise Size: Large Enterprises, Small And Medium Enterprises (SMEs)
4) By End User: BFSI, IT And Telecom, Government, Energy And Utilities, Other End Users
Technological advancements are the key trends gaining popularity in the data center market. Major players in the market are creating technologically advanced products such as the mobile data center features a superior power capability and minimalist design. For instance, Verakaria, a US-based cryptocurrency hosting, and mining service provider launched the Mobile Datacenter. The unique features of this data center include that it can support up to 2.57 MW of power, which is equivalent to 696 miners, in a 10’W-50’L-14’H product footprint, and is built with improved power capabilities and a simple design. Its other benefits include that the device is designed from the bottom up to handle the shifting weather patterns in any environment, in any place. It is also made to be quickly transported and installed on-site.
The data center market report table of contents includes:
1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
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27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
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