The segmentation by DCIM market indicates that the solutions segment is anticipated to witness a higher growth as compared to the services segment.
Sellbyville, DE -- (SBWIRE) -- 10/12/2018 -- DCIM Market is projected to reach a revenue of over USD 3 billion in 2024. The increase in data center construction activities is anticipated to heavily impact the industry during the forecast timeframe. There is a substantial increase in the organizational data and virtualization of information as companies are becoming more customer-centric. Organizations, primarily in the BFSI, IT, and the telecom sectors, store large amounts of customer data pertaining to financial and personal information. For instance, in July 2017, Axtel announced that it had finished the construction of USD 25 million data center in Mexico. The presence of such activities mandates the need for management applications for parameters, such as power usage, network monitoring, and security, contributing toward a high demand for DCIM market.
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A key factor promoting the DCIM market is the cost savings that these technologies provide the end users. The adoption of these technologies provides large financial savings owing to the efficient usage of resources, identification of underused resources, and error identification & mitigation. The rising trend of hyperscale and colocation data centers is generating demand for the DCIM market. These require managed services and application software that can monitor and manage large quantities of data and servers. Hyperscale data center architecture comprises multiple individual servers that provide computation, storage, and networking, and function as a single entity.
The segmentation by DCIM market indicates that the solutions segment is anticipated to witness a higher growth as compared to the services segment. The rising movement toward cloud solutions and the increase in the construction of new data centers are anticipated to drive the demand for the network management solution segment. Data centers contain a large number of physical and virtual network-based devices, which are interconnected and require devoted applications to ensure that they are working efficiently. These technologies ensure that all resources are utilized and can mitigate human errors and reduce downtime, providing substantial savings to an organization and driving the growth of the DCIM market.
The IT & Telecom segment is the largest consumer of the DCIM market. IT players, such as Google and Facebook, manage large amounts of consumer data and have data centers situated across the world. These solutions and services allow the organizations to exercise better control over their virtual and physical assets and focus on the reduction of operational costs by maximizing the output from the allocated resources.
The increase in industrial and outsourcing activities in the South-East Asian regions is contributing to the strong projected growth of the DCIM market owing to the presence of low-cost resources such as skilled labor, electricity, and space. Additionally, countries including Hong Kong and India are investing heavily in the improvement of their broadband infrastructure.
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The Indian government; for instance, has launched plans to increase the connectivity in rural locations and improve broadband speeds. The U.S. and the UK are highly focused on reducing an organization?s carbon and particulate matter emissions contributing to the adoption of technologies such as green data centers and efficient cooling solutions, driving the growth of the DCIM market.
The DCIM market players comprise ABB Ltd., Dell, Inc., IBM Corporation, Modius, Inc., NTT DATA, Panduit Corporation, Siemens AG, Cisco Systems, Inc., Nlyte, and Vertiv Co. The industry is majorly influenced by technological trends and advancements and a noticeable trend owing to this among companies is heavy investments in R&D activities and acquisitions to sustain long-term growth. For instance, in March 2017, Nlyte announced that it had introduced a hosting service for its cloud-based DCIM software, providing its customers with a choice pertaining to how to purchase, configure, and manage their installation of Nlyte 8, thereby strengthening their position in the DCIM market.
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