In 2033, the size of the world market would be USD 35.65 billion.
The global data center transformation market size is estimated at USD 10.05 billion in 2023 and is projected to grow at a CAGR of 13.5% from 2023 to 2033.
Data centers are under pressure due to the ongoing adoption of cutting-edge technologies by various enterprises, including big data analytics, cloud computing, and the Internet of Things (IoT), as part of their plans for digital transformation.
This in turn increases demand for data center transformation on a worldwide scale. It is anticipated that the sector would benefit greatly from the increased need for software-optimized data centers on a global scale.
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Stumbling Blocks in the Market
A shortage of skilled labor and problems with regulatory and portability compliance are impeding the data center transformation market expansion. The management of utilities, physical security, building upkeep, and other physical components are not subject to customer control because colos are managed by a different organization.
Despite having no control over the location, the supplier completely manages their data centers using the public cloud, taking care of equipment maintenance and upgrades. Thus, the market for data center transformation is being restricted by all of these constraints.
Leading Market Share Belongs To North America.
North America dominated the global market and is expected to grow at a significant CAGR during the forecast period. The data center transformation market expansion in this region is primarily being driven by the early construction of data centers and significant investments in technological advancements.
The data center transformation market expansion is anticipated to be significantly aided by the growing use of data centers in the education, healthcare, and BFSI sectors.
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Key Takeaways
Competitive Landscape
Due to the numerous competitors operating both on the domestic and international markets, the data center transformation market is very competitive. With the top competitors pursuing tactics like product and design innovation, the market seems to be moderately concentrated.
Among others, Dell EMC (Dell Inc.), Cisco Systems, Inc., and IBM Corporation are some of the market’s significant players in data center transformation.
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Feb 12, 2024