Data Center Market Projected to Grow Due to the Adoption of Renewable Energy

According to a new report by the “Hyperscale Data Center Market - Global Outlook and Forecast 2022-2027," the global data center support infrastructure market is set to reach $75.8 billion by 2024, registering a compounded annual growth rate (CAGR) of 9.4% over the analysis period.

Growth in the global market is being fueled by the rapidly rising volumes of data that needs to be stored and processed in a reliable and efficient manner.

Rapid rise in demand for cloud storage services, increase in online and mobile computing services, and the rapidly rising use of social media platforms are leading to a significant increase in the number of data centers worldwide, driving market growth.

The need for storage equipment is also rising in line with the growing volumes of Internet users, thus enhancing the need for data centers and support infrastructure solutions. Industries such as BFSI, IT & Telecom and Healthcare are leading adopters of data centers, which are vital for managing a broad array of mission critical applications requiring basic storage to high performance computing.

North America leads the market on account of technological advances along with favorable developments in the market. Increasing adoption of eco-friendly and cost-efficient data center cooling solutions by companies across the region is anticipated to continue propelling the market in the coming years. The market in Asia-Pacific is gaining from proliferation of smart phones and penetration of the Internet that are generating significant volumes of data and creating the requirement of facilities to store and process the data.

Data center support infrastructure refers to the additional space and equipment that is required for supporting the operations of data centers. Support infrastructure includes power transformers, generators, uninterruptible power source (UPS), chillers or cooling systems, air distribution systems and air conditioning systems, among others.

As an important functional system of the entire data center, data center support infrastructure comprises power, security, cooling, monitoring, and measurement systems, all of which are designed to provide assistance in managing the data center`s core operations.

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