Data Center Infrastructure Market to grow at 10% CAGR from 2018 to 2024: Global Market Insights Inc.
Data Center Infrastructure Market was valued at around USD 40 billion in 2017, and is set to exceed USD 90 billion by 2024; according to a new research report by Global Market Insights, Inc. Rising digitalization and the demand for online services are making it vital for the operators to store and efficiently manage the data generated, which is expected to offer an impetus to the data center infrastructure market growth. Government initiatives aiding SME growth and the rapid increase in the organizational data are fueling the growth of data centers. This is causing a rise in the expenditure on infrastructure technologies such as cooling, power, and networking, among others. New and advanced technologies, such as evaporative and free cooling and facilities equipped with AI, also aid in augmenting the overall efficiency of the facilities, thereby driving the data center infrastructure market growth.
The data center infrastructure market is witnessing new advancements in power and cooling solutions. The implementation of technologies, such as grid computing and cloud computing in facilities, is expected to boost the data center infrastructure market growth. The use of technological solutions, such as analytics and cloud, has compelled organizations to focus on these facilities to store information. Companies are launching new and innovative solutions to expand their market presence. For instance, in January 2018, Cisco Networking, Computing, and Security Technology were selected by Ameritas, an insurance company, for upgrading its infrastructure to improve the operational efficiency and agility. Increasing number of facilities across the globe coupled with the rising demand for data storage, management, and backup is expected to fuel the demand for networking equipment in the data center infrastructure market. Networking equipment includes Ethernet switches, WAN, SD-WAN, and application delivery controllers. Growing complexity in the management of enormous data volume generated by enterprises is compelling the adoption of new infrastructure allowing security, visibility, and automation of data. Networking equipment forms a crucial part of the infrastructure. The equipment enables a strong connection between data center nodes and the equipment to ensure that they can transfer and communicate data. 1|Page