According to a new report, published by KBV research, The Global Data Center Transformation Market size is expected to reach $32.1 billion by 2031, rising at a market growth of 15.4% CAGR during the forecast period.
The Optimization Services segment exhibits a CAGR of 15.7% during (2024 - 2031). The increasing necessity to improve the efficacy and efficiency of current data center infrastructure is the driving force behind this segment. With increasing data volumes and growing reliance on digital operations, organizations prioritize services that maximize resource utilization, improve energy efficiency, and reduce downtime. Adopting advanced analytics and automation tools for monitoring and managing workloads drives this segment as companies seek to ensure seamless and cost-effective operations without significant infrastructure overhauls.
The Cloud Service Providers segment is leading the Global Data Center Transformation Market by End User in 2023; thereby, achieving a market value of $13.3 billion by 2031. The rapid proliferation of cloud computing across industries is the primary driver of the cloud service providers segment, which is also driven by the demand for cost-effective, scalable, and flexible IT solutions. Organizations are increasingly migrating workloads to cloud platforms to support remote work, e-commerce, and digital transformation initiatives, thereby boosting demand for data center transformation services tailored to cloud environments.
The BFSI segment is capturing a CAGR of 14.8% during (2024 - 2031). The BFSI (Banking, Financial Services, and Insurance) segment is propelled by the sector's focus on enhancing data security, compliance, and customer experience. As digital banking, fintech solutions, and online transactions become mainstream, BFSI organizations are investing heavily in data center transformation to ensure the reliability and security of their IT environments. The demand for data centers that are both scalable and resilient is further exacerbated by the emergence of AI-powered financial tools, blockchain technology, and advanced analytics.
Full Report: https://www.kbvresearch.com/data-center-transformation-market/
The North America region dominated the Global Data Center Transformation Market by Region in 2023; thereby, achieving a market value of $13.3 billion by 2031. The Europe region is registering a CAGR of 15.2% during (2024 - 2031). Additionally, The Asia Pacific region would witness a CAGR of 16.1% during (2024 - 2031).
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