Data Center Services Market – Global Industry Analysis, Growth, Share, Size, Trends, and Forecast The data center services market size was valued at USD 15 billion in 2020 and is expected to expand at a significant CAGR during forecast period 2021–2028. Growth of the market is attributed to increasing disposable income, minimum capital investment, and rising data center construction projects globally.
A data center services include activities that support the implementation, operation, enhanced data services, maintenance, and all of the services and facility-related components. It is an infrastructure that gives distribution, processing, management, networking, and the storage of data within corporations. Corporations are adopting solutions offered by data center services to manage operation in data center during Covid-19 pandemic to perform remotely daily operations. Many enterprises across the globe adopted work from home model, due to this fact the demand for solutions offered by data center services is projected to rise during the forecast period. As it provides benefit such as low setup cost, flexibility, and scalability.
Market Trends, Drivers, Restraints, and Opportunities
Increasing demand for video conference platform is projected to boost the market in the coming years. Growing trend for data center colocation is the major factor fueling the market during the forecast period. Privacy breach and data security concerns act as a main challenge that can hamper the market expansion in the coming years. Lack of IT infrastructures in remote area is projected to restrict the market growth in the coming years.