Press Release

Global Data Center Transformation Market to Grow at a CAGR of Around 10.5% during 2024-30

The Global Data Center Transformation Market size is anticipated to grow at a CAGR of about 10.5% during the forecast period of 2024-30, cites MarkNtel Advisors in the recent research report. The market growth is attributed to the increased initiatives of emerging data center providers to expand their data center capacities. With an emphasis on efficiency and security, data center operating businesses are driving innovation in data center technologies. The increasing demand reflects a broader industry trend toward modernization and digital transformation. As emerging data center providers contribute to the growth of data centers, there is a greater demand for innovative solutions that meet the changing needs of businesses in an increasingly digital context.

Furthermore, the increasing demand for high-performance computing (HPC) in the BFSI sector is driving the data center transformation market forward. The exponential development of data volumes generated by financial transactions, customer contacts, and market analysis needs powerful processing capacity to process and analyze the massive quantity of data generated by the BFSI (Banking, Financial Services, and Insurance) industry. Furthermore, the growth of fintech breakthroughs such as digital banking, algorithmic trading, and blockchain technology is driving an increased need for powerful computer infrastructure to enable complicated financial transactions and safe data processing around the world.

To satisfy these growing demands, data centers are investing heavily in infrastructure modernization, which includes the implementation of upgraded servers, storage systems, and networking equipment. As a result, the data center transformation market is expanding rapidly, positioned to meet the rising computing needs of the BFSI industry while maintaining resilience, scalability, and security, further states the research report, “Global Data Center Transformation Market Analysis, 2024.”

Global Data Center Transformation Market Segmentation Analysis:

Healthcare Segment Holds a Major Market Share

Based on the end user, the market is segmented into IT & Telecom, BFSI, Healthcare, Energy, Manufacturing, Government & Defense, and others. The healthcare segment holds a substantial share of the market, driven by increasing digitalization in the sector. Advancements in medical technology, such as electronic health records (EHRs), telemedicine, and wearable gadgets, are transforming patient care and healthcare delivery globally. The COVID-19 pandemic has highlighted the necessity of remote healthcare services and virtual care solutions, which are further driving digital transformation in the healthcare sector.

The growing volume of healthcare data, such as medical imaging, genetic data, and real-time patient monitoring data, is boosting global demand for strong data storage and processing infrastructure. Healthcare firms are increasingly relying on cloud-based solutions to securely store and manage massive volumes of sensitive data, driving up demand for data centers with high efficiency and effective cooling solutions. Furthermore, with the continuous advancements in the healthcare sector, the demand for data center modification and technology integration is rising rapidly, driving market growth.

North America Anticipated to Lead the Market

North America is expected to hold a considerable share due to its strong technological infrastructure, which is led by innovative enterprises and a mature IT ecosystem. North American enterprises are driving demand for advanced data center solutions by focusing heavily on digitalization and cloud computing adoption. Furthermore, the presence of large technology and telecommunications businesses such as IBM and Accenture, together with significant expenditures in R&D, strengthens the country's data center transformation growth. Thus, the rapid construction of data centers, as well as the ongoing need for technical upgrades in the country's existing data centers, are projected to drive market growth in the region.

Global Data Center Transformation Market Competitive Landscape

With strategic initiatives, such as mergers, collaborations, and acquisitions, the leading market companies, IBM Corporation, Cisco Systems, Inc., Dell Technologies, Microsoft Corporation, Schneider Electric SE, AWS, Oracle, HCL Technologies, Cognizant, Accenture, Atos, Wipro, Bytes Technology Group, Google, NTT Communications, and others are looking forward to strengthening their market positions.

Key Questions Answered in the Research Report

1. What are the industry’s overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares)?
2. What are the trends influencing the current scenario of the market?
3. What key factors would propel and impede the industry across the globe?
4. How has the industry been evolving in terms of geography & solution adoption?
5. How has the competition been shaping up across various regions?
6. How have buying behavior, customer inclination, and expectations from product manufacturers been evolving during 2019-30?
7. Who are the key competitors, and what strategic partnerships or ventures are they coming up with to stay afloat during the projected time frame?