The worldwide Data Center Asset Management Market is expected to grow from its estimated value of USD 2.14 billion in 2023 to USD 5.62 billion by the end of 2032, according to a report released by Zion Market Research. Over the course of the projection period, the market is anticipated to expand at a CAGR of 11.3%. The growth factors, barriers to entry, and effects on demand for the worldwide data center asset management market are examined in this report's analysis. Additionally, it will support exploration and navigation of the expanding prospects in the data center asset management sector.
Global Data Center Asset Management Market: Overview
The need for data storage solutions has grown significantly in the last several years due to the sharp increase in data. Large businesses are under pressure to choose data storage options. Large corporations are using data center asset management solutions, with an emphasis on optimizing data solutions to increase profitability and meet hourly needs. Data center asset management has given businesses a better way to handle the growing overhead expenses and complexity involved in data management.
The data center infrastructure market is growing rapidly due to a number of significant factors. First off, the rapid adoption of cloud computing in conjunction with digital transformation projects has resulted in an increase in demand for data centers as enterprises increasingly rely on cloud-based installations. Due to the exponential growth in data generation and the increasing need for storage, data center infrastructure costs have also increased in order to accommodate these massive volumes of data.
The market for data center infrastructure is expanding quickly because of a number of important factors. First off, as organizations increasingly rely on cloud-based deployments, the quick adoption of cloud computing in conjunction with digital transformation projects has led to a spike in demand for data centers. In order to handle these enormous data volumes, data center infrastructure expenditures have also increased due to the exponential expansion in data generation and the rising requirement for storage.
Global Data Center Asset Management Market: Growth Factors
The growing number of data centers worldwide is driving growth in the global data center asset management industry. It is expected that the focus of many businesses on the launch of novel goods in the market will accelerate the growth of the global market. Leading businesses are implementing effective asset management services and solutions, creating new avenues for international market expansion.
Enterprise data centers are standalone structures owned and operated by a single company to fulfill its own IT infrastructure needs. These data centers are especially well-suited for enterprises that require specialized networks or can benefit from economies of scale because they are able to handle and manage enormous volumes of data. The rise of the global data center asset management market may be attributed to a number of factors, including manageability, planning, cloud service providers, energy efficiency management, an increased number of collocations, and enhanced and efficient data center capacity.
However, it is anticipated that over the next several years, there will be a huge increase in demand for edge data centers. Going forward, this segment's market expansion is expected to be supported by the growing usage of edge computing technologies and their expanding range of applications. In the future, data center infrastructure management firms will have more options because of advancements in edge computing technology.
Global Data Center Asset Management Market: Segmentation
Based on services and deployment type, there are divisions in the worldwide data center asset management market.
The worldwide market is divided into three categories based on services: professional, consulting, and installation & support.
The worldwide data center asset management market is divided into two segments based on the type of deployment: cloud and on-premise. Based on geography, North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa make up the worldwide data center asset management market.
Depending on variables including connection, security, water accessibility, power availability, and availability, these data centers may be situated on- or off-site. They are specifically designed to function with the unique business applications and procedures used by a firm.
Throughout the course of the projection period, there will be a noticeable increase in the demand for services in the data center infrastructure management market.
In the upcoming years, there is expected to be a sharp increase in demand for edge data centers. Going forward, this segment's market expansion is expected to be supported by the growing usage of edge computing technologies and their expanding range of applications.
Global Data Center Asset Management Market: Regional Analysis
The top region for data center asset management is North America. In the global market, Asia Pacific is growing at a large rate, is currently in its initial growth phase, and is predicted to increase soon. This is mostly because industry participants are becoming more focused on meeting the need for data center asset management in this area. Furthermore, even though the region is still in the early stages of adopting data center asset management solutions, Latin America is growing rapidly.
Demand for DCIM is expected to increase during the projection period as cloud computing gains traction among North American organizations due to falling server prices. In the US West, the data center sector is well-established and expanding. It's a wise investment because data center operators will benefit from the great connection and close proximity to neighboring IT hubs. In California, cloud service providers and other IT and technology companies comprise this industry, which accounts for around 90% of all digital enterprises.
Because of its significance as a global hub for technology, Europe has the second-largest market share for data center infrastructure. With the increasing use of 5G, VR, and AI, the local enterprise IT sector is undergoing a change. In addition, the UK data center infrastructure market was developing at the quickest rate in the European Union, while the German data center infrastructure industry retained the biggest market share.
Data Center Asset Management Market
Global Data Center Asset Management Market: Competitive Players
Major players dominating the global data center asset management market are;
Emerson Network Power
HP
Optimum Path, Inc.
Huawei Technologies Co. Ltd.
Schneider Electric SE.
IBM
FieldView Solutions, Inc.
Raritan
CA Technologies
Nlyte Software
Global Data Center Asset Management Market: Service Segment Analysis
Professional
Consulting
Installation & Support
Global Data Center Asset Management Market: By Deployment Type Segment Analysis
Numerous local, national, and international businesses make up the data center infrastructure market. It's a competitive market since everyone is vying for the biggest potential market share. The market is expanding as a result of multiple factors, such as the ability to predict data center capacity requirements with visibility, the emergence of hyper-scale data centers, the rapid adoption of cloud computing in conjunction with digital transformation, the exponential growth in data generation and surge in storage demand, and the tendency of organizations to deploy cloud-based solutions.
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