Market Overview
The global data center service market is anticipated to meet the
market value at 13.1% of CAGR during the forecast period of 2020 and 2030.
However, the global market is projected to be enhanced at USD 1783.23 Billion by the end of the year 2030.
The current
market growth is driven because of the development of data centers in various
organizational fields and the rising use of cloud-based based technology across
the globe. Moreover, the global market is fueling due to various market
players' rising huge amount of investments in adopting advanced technology. As
a result, the investment is growing in building web service infrastructure,
which is another growth driving factor for the global market.
However, many
service providers are offering low-cost services, which can hinder the global
market growth in the review period.
Market
Segmentation
As per the
analysis report, the data center service market is segregated on the basis of
organization size, data center type, service type, and end-users.
Based on the
service type segment, the global market
has been segmented into various service types such as consulting service,
support service, application service, outsourcing services, financial service,
and training service. Based on the organization size segment, the current
market has been divided into large business enterprises, small and medium
business enterprises, and cloud providers enterprises.
In terms of the
data center type segment, the worldwide data center service market has been
classified into outsourced and captive data center types. On the basis of
end-user segment, the global market has been segmented into the IT/ITES sector,
government sector, manufacturing sector, healthcare sector, banking financial
services and insurance (BFSI), retail sector, transportation sector, defense
sector, education sector, and others.
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Regional
Analysis
Geographically,
the global data center service market has been segmented based on Europe,
Asia-Pacific, North America, Latin America, and the rest of the world.
The North
American region is projected to hold the largest market share during the
assessment period among all the regions. Also, this region is expected to lead
the market due to the rising use of associated services in the region. Also,
the rising adoption of advanced technology in nations like the U.S. and Canada
is another important factor for the regional market's growth.
Apart from
these, the Asia Pacific region is registered to hold the second-largest market
share and fastest-growing region over the forecast period. The Asia Pacific
region is expanding on a large scale due to developing the infrastructure and
rising use of advanced technology among developing countries like Japan, China,
India, and South Korea. In addition, the European region is also taking major
steps to show its presence in the global market.
Industry News
In April 2019,
a 'Cloud AI 100' was launched by Qualcomm, which is the data center AI
inference chip family. This chip has been designed to give good performance for
the devices with the use of sophisticated features of AI. Moreover, the ASIC
family product may come in different thermal design points and different form
factors based on various use cases.
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