Data Center Life Cycle Services Industry 2023 Size, Demand, Growth Prospects, Key Opportunities, Trends, Forecasts, Key Players and Industry Analysis
December 12, 2019 by Market-NewsFlash
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Data Center Life Cycle Services Market, By Component (Hardware, Software), By Deployment, By Data Center Type (Mid-Size Data Center, Enterprise Data Center, Large Data Center), By Service and By Vertical — Forecast 2023
Data Center Life Cycle Services Market Overview
The data center life cycle services market is growing rapidly over 15% of CAGR and is expected to reach at approx. USD 7 billion by the end of forecast period.
In this rapidly changing world of technology, data center life cycle services market is projected to show major growth prospects during the forecast period. Exponential growth in the amount of data consumed by various industries, individuals, and organizations is the major factor driving the growth of data center life cycle services market.
Major factors driving the data center life cycle services market are reduction of costs by eliminating manual checks of servers and other data center assets. It also provides increased efficiency and productivity, and decreased human efforts. The growing data and storage requirement increases the associated data center assets and costs. In order to minimize the cost associated with the operations of data centers and to maximize profits, various organizations are developing more scalable and efficient data center management solutions.
As compared to other regions, the data center life cycle services market in North America is expected to witness significant growth during the forecast period. U.S and Canada are anticipated to drive the growth of data center life cycle services market. This is owing to the presence of large number of cloud based data centers and technical advancements in that region. In addition to this the region also has a well-established infrastructure which allows higher penetration of devices which ultimately provides high speed connectivity and is expected to be a major factor for the growth of data center life cycle services market.
Data center life cycle services Market Segmentation
The data center life cycle services market has been segmented on the basis of component, deployment, data center type, service and vertical. The deployment segment is further bifurcated into on-premise and cloud deployment. Out of which, cloud deployment is most preferred one, owing to the cost efficiency and flexibility being offered.
The prominent players in the data center life cycle services market are — Schneider Electric (France), HP (U.S.), IBM Corporation (U.S.), Vertiv (U.S.), Nlyte Software (U.S.), Optimum Path, Inc. (U.S.), Raritan (U.S.), CA Technologies (U.S.), FieldView Solutions, Inc. (U.S.), Huawei Technologies Co. Ltd. (China), among others.
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