Data Center Market Size, Share, Growth Analysis, By Component(Hardware (servers, enterprise network equipment PDU, and UPS), software (DCIM), By Type(On-premise, hyperscale, HPC, Colocation), By Server Rack Density(<10kW, 10-19kW, 20-29kW, 30-39kW), By Data Center Redundancy(N+1, 2N, N+2, N), By PUE(1.2, 1.2 - 1.5, 1.5 - 2.0, Greater than 2.0), By Design(traditional, containerized, modular), By Tier Level (Tier 1, Tier 2, Tier 3, Tier 4), By Enterprise Size(Large enterprise, small & medium enterprises), By End User(Cloud service provider, technology provider, telecom, healthcare), By Region - Industry Forecast 2024-2031

Global Data Center Market size was valued at USD 342.06 Billion in 2022 and is poised to grow from USD 364.50 Billion in 2023 to USD 605.96 Billion by 2031, growing at a CAGR of 6.56% during the forecast period (2024-2031). 

The competitive landscape of the global data center market is dominated by a mix of established tech giants and emerging players. Key players lead the market with extensive global networks, advanced technologies, and substantial financial resources. Equinix, a global leader in data center and colocation services, partnered with Google Cloud to enhance hybrid cloud solutions. This collaboration allows customers to seamlessly connect their on-premises infrastructure with Google Cloud’s services, offering increased flexibility and scalability. The partnership leverages Equinix’s extensive global data center network to provide low-latency connections and improved performance for Google Cloud users. 'Hewlett Packard Enterprise (HPE) (United States) ', 'Cisco System, Inc. (United States) ', 'Hitachi Ltd (Japan) ', 'IBM Corporation (United States) ', 'NTT Communications (Japan) ', 'ABB (Switzerland) ', 'Dell Technologies (United States) ', 'Schneider Electric (France) ', 'Comarch SA (Poland) ', 'Huawei Technologies Co., Ltd. (China) ', 'SAP SE (Germany) ', 'Equinix Inc. (United States) ', 'Oracle (United States) ', 'Amazon.com Inc. (United States) ', 'Alphabet Inc. (United States) ', 'Microsoft (United States) ', 'Digital Realty (United States) ', 'Tata Communications Ltd (India) ', 'GPX India Pvt. Ltd. (India) ', 'Aermec UK Ltd. (United Kingdom)'

Increasing demands for data storage and processing, driven by expanded cloud computing, big data analytics, and digital transformation, are driving the need for multiple data centers. Projects and customers generate and consume large amounts of data, requiring large amounts of data processing central capacity. 

Rise in the Edge Computing Growth: The rise of edge computing is changing the data center landscape. Since tasks and applications require faster data processing and lower latency, edge computing brings data processing closer to the data birth source. This trend is driving smaller distributed data centers alongside larger traditional data centers and provides efficient and real -time data processing.

North America accounted for the largest market share of around 40% in 2022. The growing digital economy in the region is increasing the need for data centers to serve cloud computing, e-commerce, online services, and other digital projects. Cloud services are widely used in North America due to their flexibility. Cloud providers need more data centers to expand their infrastructure. Data centers are needed to store, process and analyze this data.