Data Center Life Cycle Services Market to Surpass USD 300 Billion by 2030 Growing at a CAGR of 13% – Report by Market Research Future (MRFR)
A good data center design is crucial, but it is not the only thing that matters. For a data center to stay productive and available, each part of its life cycle must be managed efficiently. According to Market Research Future, the Data Center Life Cycle Services Market would be worth over $300 billion by 2030. During the projected timeframe, the market is estimated to increase at a 13% annual pace.
Because of the increased demand for and technical improvements in cloud computing, the value of the Global Data Center Life Cycle Services Industry will rise in the next years. This market will witness significant development and expansion in the future.
North America Will Be The Market Leader In Data Center Life Cycle Services
During the predicted period, North America is expected to grow the fastest. In the next years, it is also predicted to dominate the worldwide market. This is owing to the rapid improvement of technology and the rise of important actors in industrialized nations such as the United States and Canada.
The data center life cycle services market is predicted to develop fastest in the United States and Canada. This is due to the region’s availability of cloud-based data centers, as well as technological advancements. From 2021 to 2026, the software-defined data center (SDDC) market is predicted to increase by USD 84.59 billion, with North America accounting for 46% of the industry’s growth. The United States is the most important SDDC market in North America. The surge in cloud use is propelling the SDDC market in North America onward.
In addition, the region has a well-established infrastructure, allowing for higher device coverage and high-speed connectivity.
APAC And Europe Support The Development Of The Data Center Life Cycle Services Market
During the projection period, the Asia-Pacific region is likely to have considerable market expansion. Rising significant players in emerging nations such as India and China are driving this expansion. Because of increased demand for cloud-based and cost-effective services, the APAC data center life cycle services market is likely to contribute more effectively to revenue growth.
After America, Europe is likely to have the biggest market share. The major firms are concentrating their efforts on R&D. This will allow them to stay ahead of the competition in the Data Center Life Cycle Services Business and generate more income in the coming years.
The Middle East and Africa will expand more slowly than other regions. This is due to the fact that the important players in these regions have not developed as much, and technical improvements are slower than in other places.
Key Vendors In The Market
The Data Center Life Cycle Services Business is booming, with big firms making use of government assistance and market trends to their advantage. Many firms have found stability in the post-pandemic era as they focus on securing future economic interests. The most successful firms are extending their operations through acquisitions or mergers, and some are even creating new products!
IBM Corporation (US), Schneider Electric (France), CA Technologies (US), Huawei Technologies Co. Ltd. (China), Raritan (US), Nlyte Software (US), Fieldview Solutions, HP (US), Optimum Path Inc. (US), and Vertiv (US) are some of the market’s key vendors.
