In 2022, the market for datacenters is expected to be worth over US$ 202,612.5 Mn. According to estimates, the market for datacenters will be worth US$ 219,001.5 Mn in 2023 and US$ 554,431.8 Mn in 2033, increasing at a CAGR of 9.8%.
Datacenters are places where there are lots of computers, servers, and other network-connected devices like modems and routers. These facilities are used for a variety of reasons that need the storage of information, the processing of data, and the provision of necessary resources to the end users by a number of diverse businesses, institutions, or a single entity.
One of the primary drivers for datacenters is providing the user’s access to cloud computing technology and solutions for numerous enterprise and end user purposes, the use of this technology is increasing in industries since companies and end users do not need to invest in the hardware and software, seek cloud services, that are underpinned by datacenter infrastructure and services. Many large enterprises can afford their own private data centers.
By region, the market in North America held the largest market share of 28.8% in in 2022, followed by Europe with a market share of 24.4% for the same year.
What Factors Influence Datacenters Market?
“Digital Transformation across Regions Driving Demand for Datacenters”
Enterprises are shifting their services and solutions to the cloud, further driving the demand for datacenters. Several companies are shifting their operations for internal purposes and consumer interaction online, increasing the dependency of enterprises on datacenters. The automation of tasks leads to the implementation of solutions and software. These solutions are often deployed on the cloud because of the expenses that could be saved, allowing for the growth and demand of datacenters.
Most of the datacenters are based in the cities or areas that has a large amount of industrialization and presence of IT companies.
- In December 2022, INNIO announced that NorthC datacenters will be implementing the new hydrogen engine developed by them to act as an emergency power supply for their new datacenter. The purpose is to provide carbon-free energy to the datacenter in case of any power outage.
- In December 2022, Vertiv introduced a new thermal management system named Liebert XDU for datacenters in the Europe and Middle East region. The system allows the flow of liquid cooling material from the core to the devices in the datacenter.
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