The global mega data center market is anticipated to expand at a CAGR of 4.7% during the forecast period, 2021 – 2028. The growth of the market is attributed to increasing number of organizations seeking to expand their data storage capacity.
Mega data centers offer high storage capacity, bandwidth, computing capacity, and facilitate large scale data transfer. Mega data center refers to a single facility sprawling over large areas and employing a minimum of 15,000 servers. In terms of power, these data centers are available in range between 10 Mega-Watts (MW) to 100 MW. They are cost-effective, reliable, scalable, and an efficient large scale data storage solution. Companies such as Facebook, Microsoft, Amazon, and Google have enormous data storage requirements and prefer to operate gigantic mega data centers to meet their storage requirements.
The global mega data center market is propelled by the growing demand for data center consolidation and cost benefits associated with them. Growing usage of cloud services for data storage is also anticipated to drive the market during forecast period. Mega data centers require huge investment and approval from government authorities.
Market Trends, Drivers, Restraints, and Opportunities:
• Increasing data traffic is driving the demand for data storage in the market.
• Rising Demand for cloud and colocation services is expected to fuel the growth of the market.
• High investment and installation cost and lack of technical support can restrain the market growth during the forecast period.
• Growing digital demand and virtualization is generating large amount of data, which requires effective data storage solution. Thus, such factor is anticipated to positively impact the global mega data center market.
• Increasing number of IT companies investing in latest technologies to reduce overall business costs and increase revenue are speculated to create lucrative opportunities for the mega data center market.
Global Mega data center Market Segment Insights
Storage segment to dominate the market share
Based on solutions, the market is divided into storage, networking, servers, security, and others. The storage segment accounted for a major market share in 2020, and is excepted to dominate the market during the forecast period. Decreasing cost of storage facilities and increasing ability to access a vast amount of data over the Internet are driving the segment growth. Growing adoption of IoT and cloud services are further spurring the segment growth.
BFSI segment to account a major market share
Based on applications, the market is segmented into BFSI, IT and Telecom, government, media and entertainment. The BFSI segment is expected to account for a major market share during the forecast period. This segment requires data centers to regulate the cost of operation. Moreover, it increasingly deploy mega data centers to stores customers data.
Asia Pacific to exhibit a high CAGR
In terms of regions, the global mega data center market is segregated into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific is expected to exhibit a high CAGR during the forecast period. This region is anticipated to maintain a robust position owing to the presence of technology giants and large number of e-commerce players. Conversely, the market in North America is anticipated to exhibit a sustainable CAGR during the forecast period due to growing demand for mega data centers in countries such as the US and Canada.
Key players operating in the global mega data center market includes Cisco Systems Inc., Dell Software Inc., Fujitsu Ltd, Hewlett-Packard Enterprise, and Intel Corporation.
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