Data center is a facility used to accommodate computing systems with its associated components such as storage systems and telecommunications. The increasing concern for data backup and data storage has created unprecedented demand for data center equipment.
Albany, NY -- (SBWIRE) -- 11/30/2016 -- Transparency Market Research (TMR) has published a new market study on the global data center equipment market for the period from 2014 to 2020. The report, titled "Data Center Equipment Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020", forecasts the market for data center equipment to reach US$72.07 billion by 2020. TMR analysts state that the global data center equipment market was worth US$32.15 billion in 2013 and will display a 12.9% CAGR between 2014 and 2020.Digitalization of data across various industry sectors has created unparalleled demand for data storage and data backup facilities. This, along with factors such as the need for security of data and improved efficiency, is driving demand for data centers.Investing in the IT infrastructure of an organization is a key focus of business executives across several industries such as BFSI, healthcare, telecommunications, and pharmaceuticals, among others. The data center sector has proven to be resilient and dynamic, with growing demand for digitalization of data, mushrooming social media, and innovations in cloud computing.
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Introduction of new photovoltaic technologies and improvements in existing photovoltaic (PV) solar panels is expected to improve the efficiency offered by data center equipment in future. Additionally, provision of incentives by governments for renewable energy generation is expected to increase the adoption of green data centers. Hence, the adoption of new technologies is expected to make data centers more converged with cloud, more virtual and greener. Such changes are expected to offer end users of data centers with benefits such as low operational cost, and low capital and physical space requirement.
Of all the industry sectors, the telecommunications sector had the highest revenue contribution in the data center equipment market in 2013. This is mainly due to unparalleled online presence and consequent growth in internet-enabled services. Such services have led to the exchange of large amounts of data over the web, which has led to demand for tools that can deliver data integrity, safety, and high standards at data centers. North America is expected to be the largest market for data center equipment in the coming future. This is due to technological system advancements such as server virtualization, dependence on critical programs for business procedures, and e-discovery, combined with an exponential increase in data generation. Europe is also experiencing similar technology advancements, leading to North America and Europe collectively accounting for 49.3% of the global revenue in the global data center equipment market in 2013. Asia Pacific and Rest of the World (RoW) have the largest internet subscriber base and are witnessing fast expansion of internet-based services. For such reasons, the regions will emerge as high-potential markets for data center equipment.