According to new market research report "Service Market for Data Center by Service Type (Design & Consulting, Installation & Deployment, Professional, Training & Development, Maintenance & Support), Tier Type, End-User, Data Center Type, Industry, and Region - Global Forecast to 2022", The service market for data center is estimated to grow from USD 39.68 Billion in 2017 to USD 77.51 Billion by 2022, at a Compound Annual Growth Rate (CAGR) of 14.33%.
Know More@ https://www.marketsandmarkets.com/Market-Reports/service-market-for-data-centers-78453204.html
The report provides detailed insights into the global service market for data center, which is segmented according to the type of services, tier types, end-users, data center types, industries, and regions. In the type of service segment, professional services are expected to dominate the service market for data center and contribute the largest market share, whereas, training & development is set to grow at the highest CAGR during the forecast period. The tier type segment includes tier 1 to tier 4 type of data centers, where tier 4 type of data center is estimated to have a higher market size as it has advanced functionality used by large data centers. Growing investments in data center technologies across the world and increasing number of data centers are further demanding for services and fueling the growth of the service market for data center.
Growing need for reduction of CAPEX and OPEX is expected to drive the growth in government and defense, and IT and telecom industry
Banking, Financial Services, and Insurance
BFSI is a sector characterized by digitization, and the increasing number of customers that are using various banking applications has resulted in exponential growth of data in the banking and financial services industry. Data centers are increasingly becoming an important part for banking and financial industry, as the industry requires effective management of crucial data. Additionally, BFSI handles thousands of virtual machines and physical servers. Moreover, they have several monitoring tools that need to deal with various challenges such as optimizing resource allocation, reducing processing times and maintaining data center uptimes on a daily basis. In the sector, numerous transactions are being processed every minute, and any disruption can cost billion dollar losses. The BFSI industry is continuously in need of efficient data center services that can assist in daily operations. Data center service providers help the organizations in increasing speed, improving flexibility, and alleviating risks, resulting in increasing demand for these services in the BFSI industry.
However, increasing prevalence of third-party service providers may act as the restraining factor for the market. Various vendors are providing data center services that help enterprises in reducing their CAPEX and OPEX. Dell is one of the major vendors that offer professional services to manage and maintain the IT environment and provides services that assist platform transitions. The company has extensively focused on developing data center services that can help to transform data centers in a cost-effective and secure way. Other vendors include HPE (U.S.), IBM (U.S.), Schneider Electric SE (France), Cisco Systems, Inc. (U.S.), Dell, Inc. (U.S.), Fujitsu Ltd. (Japan), Vertiv Co(U.S.), Hitachi Ltd. (Japan), Equinix, Inc. (U.S.), and Huawei Technologies Co. Ltd. (China). These players adopted various strategies such as new product launches, partnerships, collaborations, and expansions to become competitive in the market.
No comments:
Post a Comment