Market Overview
The global data center service market is anticipated to meet the market value at 13.1% of CAGR during the forecast period of 2021 and 2030. However, the global market is projected to be enhanced to USD 178.23 Billion by the end of the year 2030.
The current market growth is driven because of the development of data centers in various organizational fields and the rising use of cloud-based based technology across the globe. Moreover, the global market is fueling due to various market players' rising huge amount of investments in adopting advanced technology. As a result, the investment is growing in building web service infrastructure, which is another growth-driving factor for the global market.
However, many service providers are offering low-cost services, which can hinder the global market growth in the review period.
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Market Segmentation
As per the analysis report, the data center service market is segregated on the basis of organization size, data center type, service type, and end-users.
Based on the service type segment, the global market has been segmented into various service types such as consulting service, support service, application service, outsourcing services, financial service, and training service. Based on the organization size segment, the current market has been divided into large business enterprises, small and medium business enterprises, and cloud providers enterprises.
In terms of the data center type segment, the worldwide data center service market has been classified into outsourced and captive data center types. On the basis of end-user segment, the global market has been segmented into the IT/ITES sector, government sector, manufacturing sector, healthcare sector, banking financial services and insurance (BFSI), retail sector, transportation sector, defense sector, education sector, and others.
Regional Analysis
Geographically, the global data center service market has been segmented based on Europe, Asia-Pacific, North America, Latin America, and the rest of the world.
The North American region is projected to hold the largest market share during the assessment period among all the regions. Also, this region is expected to lead the market due to the rising use of associated services in the region. Also, the rising adoption of advanced technology in nations like the U.S. and Canada is another important factor for the regional market's growth.
Apart from these, the Asia Pacific region is registered to hold the second-largest market share and fastest-growing region over the forecast period. The Asia Pacific region is expanding on a large scale due to developing the infrastructure and rising use of advanced technology among developing countries like Japan, China, India, and South Korea. In addition, the European region is also taking major steps to show its presence in the global market.
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Industry News
In April 2019, a 'Cloud AI 100' was launched by Qualcomm, which is the data center AI inference chip family. This chip has been designed to give good performance for the devices with the use of sophisticated features of AI. Moreover, the ASIC family product may come in different thermal design points and different form factors based on various use cases.
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