The Data Center Renovation 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 Renovation Global Market Report 2024, The data center renovation market size has grown exponentially in recent years. It will grow from $24.4 billion in 2023 to $30.08 billion in 2024 at a compound annual growth rate (CAGR) of 23.3%. The growth in the historic period can be attributed to legacy infrastructure modernization, increasing data storage requirements, energy efficiency concerns, security and compliance upgrades.
The data center renovation market size is expected to see exponential growth in the next few years. It will grow to $74.66 billion in 2028 at a compound annual growth rate (CAGR) of 25.5%. The growth in the forecast period can be attributed to edge computing integration, 5G implementation, sustainability and green computing, resilience and disaster recovery. Major trends in the forecast period include technological advancements, sustainability and green initiatives, modular and scalable designs, advanced cooling technologies.
Increasing usage of online services is expected to propel the growth of the data center renovation market going forward. The increasing use of online services for payment, shopping, traveling, entertainment, and medical applications will increase overall data traffic across multiple sectors. This factor will encourage the data center renovation market leaders to modernize their back-end IT infrastructure to handle the ongoing market changes. For instance, according to the report published by DataReportal, a Singapore-based business intelligence company, in April 2022, 5 billion people across the world use the internet, which is equivalent to 63% of the total world’s population. In addition, around 200 million people will be connected to the internet in the years 2021–2022. Therefore, the increase in usage of online services is driving the data center renovation market growth.
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The data center renovation market covered in this report is segmented –
1) By Product: Cooling, Power, IT Racks and Enclosures, Networking equipment, DCIM, Other Products
2) By Organization Size: Small Size Organization, Medium Size Organization, Large Size Organization
3) By Application: BFSI, IT and Telecom, Manufacturing, Government, Healthcare, Other Applications
Major companies operating in the data center renovation market are launching next-generation data center facility providing new power supply system to increase their profitability in the market. An enhanced power system in the context of next-generation data center facility renovation encompasses the integration of advanced technologies and practices to ensure a reliable, efficient, and sustainable power supply. For instance, in May 2022, Huawei Technologies Co. Ltd., a China-based information and communications technology provider launched PowerPOD 3.0. Huawei’s Next-Generation Data Center Facility focuses on sustainability, simplification, autonomous operation, and reliability, reaffirming the company’s commitment to low-carbon, smart data centers. The innovative PowerPOD 3.0, a new power supply system, reduces footprint by 40%, slashes energy consumption by 70%, accelerates delivery from 2 months to 2 weeks, and improves reliability with a 38% lower SLA fault rate. The facility adopts metrics like PUE, CUE, WUE, and GUE to measure sustainability beyond just power usage effectiveness. Huawei’s advancements aim to shape more efficient and eco-friendly data center operations.
The data center renovation market report table of contents includes:
- Executive Summary
- Data Center Renovation Market Characteristics
- Data Center Renovation Market Trends And Strategies
- Data Center Renovation Market – Macro Economic Scenario
- Global Data Center Renovation Market Size and Growth
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- Global Data Center Renovation Market Competitive Benchmarking
- Global Data Center Renovation Market Competitive Dashboard
- Key Mergers And Acquisitions In Data Center Renovation Market
- Data Center Renovation Market Future Outlook and Potential Analysis
- Appendix
Top Major Players :
- APL Data Center
- IBM Corporation
- Cisco Systems Inc.
- Schneider Electric SE
- Hewlett Packard Enterprise Company
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