The Global Data Center and Cloud Service market is Anticipated to reach USD ~450 billion by the end of 2027 – Ken Research
Global Data Center and Cloud Service MARKET by client cloud
The Global Data Center and Cloud Service market is segmented by Client Cloud into Domestic and Global Clients.
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A vibrant and fast-growing Data center ecosystem, aggressive investment in modernizing the infrastructure and the influx of investments from major players are listed as the major factors for the growth in the Global Data Center market. Some of the major Data center companies are Amazon, Akamai, Cisco Systems, Google, IBM, HP, Dell, Microsoft, VMware and Yahoo.
What is the Expected Future Outlook for the Overall Global Data Center and Cloud Service Market Across the globe?
The Global Data Center and Cloud Service market was valued at USD ~200 billion in 2022 and is anticipated to reach USD ~450 billion by the end of 2027, witnessing a CAGR in double digit during the forecast period 2022-2027. The realistic growth scenario represents the most likely scenario as per current market conditions. This scenario assumes that there will be no overall impact on the market due to any potential COVID-19 waves in the future.
The Global Data Center and Cloud Service market is driven by the new government policies like tax exemption, influx of huge investments from various companies and governments, digitization in IT sector, high density demand of end-users and young tech savvy population. However, the market is also constantly being influenced by rapid development in technology, product innovation, and diversification in some countries.
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The Global Data center and cloud service market is changing very rapid with new investments and acquisition. For Instance, Kotak Alternate Assets, managed by Kotak Investment Advisors, will be investing $800 million to support the development of 5-7 large data center in India.
Furthermore, MC Digital Realty, a 50/50 joint venture between Mitsubishi Corporation and Digital Realty providing a full suite of data center solutions in Japan, announced on February, 2023 the official opening of KIX13, the fourth building on the 23,000sqm Osaka data center campus. A three-story facility that offers customers institutional quality digital infrastructure solutions of up to 21 megawatts (MW) of IT capacity in one of the most highly sought-after markets for cloud data centers in the world.
There has been a significant investment made by major companies in the Global Data center market. For Instance, Amazon Web Services (AWS) announced plan to invest $2.8 Billion in the expansion of its data center in 2020 while Microsoft committed to spend $10 billion on data center expansion in 2021 alone. Google also plans to invest $7 billion in data centres and offices in the upcoming yeas in United States.
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Moreover, Data centre providers such as Equinix, Digital Reality and CyrusOne have also made significant investment in data center infrastructure. For example, Equinix announced an investment of $1 billion in its data centre infrastructure 2019. Similarly, Digital Reality invested $ 3 billion in data center infrastructure in 2020.
Key Target Audience – Organizations and Entities Who Can Benefit by Subscribing This Report:
- Data Center Industry
- Cloud Services Industry
- Data Center Manufacturing Companies
- Data Center Operators
- Cloud Services Operators
- Co-Location Providers
- Uptime ranking association
- Telecom Industry
- IT/ITes Industry
- Government Sector
- Retail Sector
- Transport and Logistics Companies
Time Period Captured in the Report:
- Historical Period: 2017-2022
- Base Year: 2022
- Forecast Period: 2022-2027
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