Healthcare and Telecom Sectors Propel Data Center Server Market Expansion

In 2023, the global data center server market generated revenue of USD 139.1 billion and is expected to soar to USD 307.0 billion by 2030, growing at a compound annual growth rate (CAGR) of 11.6%. Several factors are driving this expansion, including the rise of the IT and telecommunications sector, the integration of AI and data analytics into servers, the increasing demand for cloud services, ongoing digitalization, and the surge of 5G technology, which requires higher data storage capacities.

Additionally, the growing trend of AI-powered server solutions and the escalating demand for organizational data storage are contributing to further market growth. Every day, companies handle massive amounts of data to improve products, enhance customer retention, and boost revenue. This requires efficient methods for managing such large quantities of data.

With billions of people connected to the internet, every online activity generates data. Businesses use this data for various purposes, such as managing inventory, monitoring human resources, and providing personalized product and service recommendations. Every day, 2.5 million gigabytes of data are generated, with a staggering 44 zettabytes of data currently in existence, 70% of which is created by users.


Key Insights:

  • The commercial sector is poised for substantial growth due to the increasing number of established businesses and startups.
  • AI, data analytics, IoT, and cloud computing are transforming corporate operations, further expanding the market.
  • Governments have implemented strict data management regulations, which, while costly for companies, are boosting the commercial sector's growth.
  • In 2023, the BFSI sector held a 45% revenue share, driven by the growing adoption of cloud solutions and the need for robust server infrastructure for data storage and processing.
  • The healthcare sector is expected to grow significantly due to advanced infrastructure, technical innovations, increased capital investments, and the rising importance of data storage, especially for telemedicine applications.
  • The IT and telecom sectors are set for major growth, driven by the rise of mobile internet users, increased software deployment, and a surge in startup initiatives, all of which are creating a greater demand for data storage and processing solutions.
  • Government sectors are experiencing significant growth due to data localization policies, cloud platform adoption, and the development of enterprise self-build data centers.
  • North America led the market with a 40% revenue share in 2023, and the region is expected to maintain its dominance due to its established IT infrastructure, industry giants, and high adoption of AI and machine learning technologies.
  • The U.S. will continue to lead, supported by its strong IT sector and the presence of numerous data centers.
  • The Asia-Pacific (APAC) region is forecast to grow at the fastest rate with a CAGR of 15%, driven by a rising number of internet users, digitalization, IT and telecom expansion, and increased cloud adoption.
  • Europe also had a significant revenue share, with growth driven by the adoption of digital technologies, increased internet usage, and 5G network rollouts, especially in the U.K., a key cloud industry hub.
  • The Middle East and Africa (MEA) will see notable growth due to globalization, digitalization, and rising investments in data centers, particularly in Africa.

Comments

Post a Comment

Popular posts from this blog

What Is a Data Center? How Does a Data Center Operate

Image
In simple words, a data center is a physical capability that establishments utilize to house their vital applications and information. A data center's structure is based on a network of computing and storing resources that allow the distribution of shared apps and data. The major components of a data center design comprise switches, routers, storage systems, firewalls, servers, and application-delivery controllers. The data center market is witnessing growth and is projected to reach USD 602.76 billion by 2030. What Defines a Modern Data Center? Contemporary data centers are more diverse than they were just a short period ago. Infrastructure has shifted from old-style on-premises physical servers to computer-generated networks that help apps and workloads across pools of bodily infrastructure and into a multi-cloud atmosphere. In this world, information exists and is linked through several data centers, the edge, and private and public clouds. The data center should be capable of
Read more

How Will Rapid Industrialization Drive Hydraulic Equipment Demand?

Image
The Government of India completed the construction of 2,734 projects under the Smart City Mission till 2021. The government is currently working on the construction of 100 smart cities, 6 new ports and 14 coastal economic zones (CEZs). Likewise, Infrastructure Australia (IA) approved the construction of 44 new infrastructure projects in February 2021. The rising construction activities, on account of the booming population and mounting investments being made in the construction sector, will propel the need for hydraulic equipment in the coming years. Additionally, the rapid industrialization in developing countries will drive the hydraulic equipment market growth during 2021–2030. According to P&S Intelligence, the market generated a revenue of $37 billion in 2020. For instance, the United Nations Industrial Development Organization (UNIDO) aims to offer institutional support to special economic zones (SEZs) and industrial and technology parks in Brazil. The UNIDO will help Brazil
Read more

Why Is OLED Material Consumption Highest in Asia-Pacific?

Image
The technology of TV displays has evolved significantly from the cathode ray tubes of the mid-20th century to the liquid crystal displays (LCDs) and light-emitting diodes (LEDs) of the first decade of the 21st century. With efforts on to make the displays even better, organic light-emitting diodes (OLEDs) have been invented, which are rapidly becoming popular in TVs, smartphones, laptops, tablets, and automotive displays. This is because of the several advantages OLED screens offer, including brighter pictures, larger viewing angles, ability to work in a wider temperature range, and lower power consumption. Moreover, OLEDs are so thin that they can be used for curved and folded screens, which are becoming rapidly popular, especially in wearable devices and other consumer electronics. Similarly, transparent displays, which are helping revolutionize advertising activities, have become possible due to OLEDs. P&S Intelligence cites these advantages and the constant research being put i
Read more