The global data center market is projected to expand at a compound annual growth rate (CAGR) of 10.1%, reaching a value of USD 622.4 billion by 2030. One of the primary factors driving this growth is the rapid surge in data generation. The increasing demand for mobile, social media, analytics, and cloud services worldwide has significantly boosted the need for data centers. The explosion in social media usage, in particular, has fueled the development of new facilities to store the vast amounts of data being collected.
The IT and telecom sectors are at the forefront of this growth. With the rapid adoption of advanced technologies such as cloud computing, the Internet of Things (IoT), and artificial intelligence (AI), the volume of data generated from mobile internet usage, network devices, personnel records, server logs, billing operations, and social media is skyrocketing. To manage and store this data, IT and telecom companies are increasingly leasing space at third-party facilities, allowing them to securely scale their storage needs up or down as required.
Regionally, North America leads the data center market and is expected to maintain its dominance through the decade, with a market value of USD 191.80 billion by 2030. The U.S. is the key driver behind this growth, boasting more than 2,600 data centers, many of which are located in northern California, home to major tech companies like Google, Facebook, Yelp, Uber, and Twitter. The region’s advanced and extensive technology infrastructure further bolsters its position as a market leader.
Europe is also witnessing substantial growth, emerging as a major tech hub on the global stage. The rising adoption of 5G, AI, and virtual reality (VR) is transforming the regional enterprise tech landscape. Demand for data centers and colocation services in Europe is driven by the growing need for big data, IoT, and cloud computing. Western Europe, in particular, is a highly developed market with numerous service providers and colocation facilities.
The relentless growth in data generation and the increasing demand for mobile, social, analytical, and cloud services are propelling the data center industry forward. This trend is expected to persist in the coming years, with no signs of slowing down.
About P&S Intelligence
P&S Intelligence offers custom and syndicated market research and consulting services to clients across the globe. Our team of young and dynamic researchers, guided by mentors with years of experience, create data-rich reports tailored to the needs of MNCs as well as startups and SMEs. We remain in a perennial quest to offer exhaustive insights into every aspect of the market, allowing businesses of all sizes to seize even the smallest of opportunities and tackle even the biggest of challenges.
Contact:
Chandra Mohan
AVP – Business Development
Phone: +1-347-960-6455
Email: enquiry@psmarketresearch.com
Web: https://www.psmarketresearch.com
Follow Us: LinkedIn Twitter
Comments