Managed Data Center Services Market Overview 2023-2027: Market Projections, Growth Drivers, And Lucrative Segments As Per The Business Research Company's Managed Data Center Services Global Market Report 2023
LONDON, Oct. 30, 2023 (GLOBE NEWSWIRE) -- As per The Business Research Company’s Managed Data Center Services Global Market Report 2023, the managed data center services market is experiencing a meteoric rise, projected to grow from $317.39 billion in 2022 to an impressive $366.52 billion in 2023, marking an extraordinary compound annual growth rate (CAGR) of 15.5%. The market is anticipated to continue this trajectory, reaching a staggering $643.4 billion by 2027, maintaining a strong CAGR of 15.1%. This report delves into the driving forces and key trends contributing to this remarkable managed data center services market growth while offering actionable insights for stakeholders.
Proliferation of Data Centers
The growth of the managed data center services market is largely driven by the proliferation of data centers worldwide. Data centers serve as the physical spaces where data is stored and managed, crucial for product and service development, as well as maintenance and repair. Managed data centers provide comprehensive functionality, maintenance, and monitoring to ensure the health and performance of systems while relieving organizations of deployment, management, and monitoring responsibilities.
In a real-world example, Savills Korea reported in August 2021 that the total commercial data center IT load in Korea is set to increase by a significant 700 MW during 2021-2023. This accounts for a substantial 15% of the entire Asia-Pacific (APAC) capacity. The mounting number of data centers is the engine driving the managed data center services market to new heights.
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Leaders of the Industry
Key players in the managed data center services market play a pivotal role in influencing the industry's trajectory. Leading entities, such as Microsoft Corporation, Verizon Communications Inc., and AT&T Inc., demonstrate a strong commitment to innovation, setting industry benchmarks. Their initiatives spur innovation and competition, contributing to the overall managed data center services market growth.
Harnessing Technological Advancements
In the realm of managed data center services, technological advancements represent a defining trend. Leading companies operating in this space are at the forefront of adopting cutting-edge technologies to maintain their market standing. For example, Cisco Umbrella, a US-based company specializing in versatile cloud-based security, unveiled new Secure Access Service Edge (SASE) data centers for enhanced security in June 2022. This innovative technology consolidates various security features into a single cloud service, addressing the security needs of organizations of all sizes, regardless of their location.
North America emerged as the largest region in the managed data center services market in 2022, while the Asia-Pacific region is expected to be the fastest-growing region during the forecast period.
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In an era of dynamic data management and digital transformation, stakeholders can leverage this report to their advantage. The managed data center services market is poised for unprecedented growth, and those who navigate this landscape with vision and innovation stand to gain substantially. This report provides a roadmap to the future, offering invaluable insights into a market characterized by rapid expansion and transformation.
Managed Data Center Services Global Market Report 2023 by The Business Research Company provides insights on the managed data center services market size, managed data center services market segments, managed data center services market trends, drivers and restraints, major competitors’ market positioning, revenues and market shares.
The Business Research Company has published over 6,500+ industry reports, covering more than 2,500+ market segments and 60 geographies. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.
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