According to a new report, published by KBV research, The Global Data Center Construction Market size is expected to reach $305.3 billion by 2028, rising at a market growth of 7.5% CAGR during the forecast period.
The Tier 3 segment acquired maximum revenue share in the Global Data Center Construction Market by Tier Type in 2021 thereby, achieving a market value of $154.2 billion by 2028. The enhanced redundancy between data centers is responsible for the high market share. Another reason the tier 3 category has led the market is the growing demand for high-performance computing. Media companies like Netflix and Facebook, as well as established players in the banking and service sectors, want the Tier 3 standard.
The BFSI segment has shown the growth rate of 7.7% during (2022 - 2028). Massive amounts of client and customer-related data are gathered and stored by the Banking, Financial Services, and Insurance (BFSI) industry. Using data centers allows for the storing of data. In addition, many banks and financial institutions use data centers to store information and data. As a result, these factors are accelerating the expansion of the segment.
The IT Infrastructure segment is leading the Global Data Center Construction Market by Type in 2021 thereby, achieving a market value of $172.1 billion by 2028. The equipment, human resources, and external contacts, such as security organizations, are all part of this management system, guaranteeing IT activities' effective and efficient functioning. The increased proactive IT fault management, SLA compliance, improved customer service, and consistent IT infrastructure operation are all made possible by the multi-level visibility into IT operations that IT admins have.
The North America market dominated the Global Data Center Construction Market by Region in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $112 billion by 2028. The Europe market is exhibiting a CAGR of 6.8% during (2022 - 2028). Additionally, The Asia Pacific market would display a CAGR of 8.5% during (2022 - 2028).
Full Report: https://www.kbvresearch.com/data-center-construction-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Hewlett-Packard enterprise Company (HP Development Company L.P.), IBM Corporation, ABB Ltd., Schneider Electric SE, Oracle Corporation, Cisco Systems, Inc., Vertiv Holdings Co., Huawei Technologies Co., Ltd. (Huawei Investment & Holding Co., Ltd.), Fujitsu Limited and Equinix, Inc.
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