The global modular data center market size was USD 21,717 Million in 2019 is projected to reach USD 129,100.49 Million by 2026, at a CAGR of 29% in the forecast period
Modular Data Center Market
The modular data center market is set for a rapid growth over the forecast period. In terms of revenue, the global modular data center market accounted for USD 21,717 Million in 2019 and is expected to Reach USD 129,100.49 Million by 2026, growing at a CAGR of around 29%.
Modular data center is a portable process of installing data center capacity. It can be deployed at any location where there is a huge necessity of data capacity. It comprises of purpose-driven modulus and parts and provides expanded data center capacity having a variety of energy as well as cooling alternatives.
The escalating popularity of portable & power conserving information technology infrastructure facility will impel the expansion of modular data center industry over the estimated timeframe. Today, myriad business tycoons are keen to enhance the proficiency and seamlessness of their IT functionalities and this, in turn, will create a humungous demand for modular data center.
The world is experiencing a paradigm shift in the software business and there is instantaneous digitization of the IT processes. This, in turn, will culminate in the increased demand for modular data centers. With myriad benefits offered by the modular data centers along with scalability and ease of installation of these data centers is likely to enlarge the scope of the business.
Moreover, aspects such as high-density offering, energy conservation, and substantial time & cost savings will boost the business space.
The modular data center market can be segmented into component and application. Component wise, the modular data center market is segregated into solutions and services. Application wise, the industry is classified into IT & telecom, industrial, BFSI, energy, healthcare, and government & defense.
Based on the region, the modular data center market can be divided into five main regions: Latin America, North America, the Middle East, and Africa, Europe, and the Asia Pacific. North American industry is predicted to contribute tremendously towards the overall market revenue. The surge in the regional market can be accredited to rise in the data center establishments and launching of new technologies in the countries such as Canada and the U.S. Tough business competition between the giant players has resulted in low-cost product offerings with high quality. Additionally, penetration of IoT technology and Big Data is likely to result in the need for next-gen modular data centers with higher IT capacity & scalability. This, in turn, will boost the business growth trends in North America.
Asia Pacific industry will witness a steadfast growth with rising in the usage of information technology in small & medium scale firms. Introduction of favorable schemes by the government along with the growing trend to expand the business while incurring minimal expenditure will result in the surge in the velocity of the market growth.
Growing ecological concerns has led to the adoption of modular data centers in the countries of the European Union, thereby driving the European modular data center market earnings.
Few of the giant firms operating across modular data center market are Flexenclosure AB, Cisco Systems, Inc., Cannon Technologies, Baselayer Technology, STULZ GmbH, Schneider Electric SE, IBM Corporation, Vertiv Co., Huawei Technologies, IO Data Centers LLC, Emerson Network Power HP, Dell, SGI Corporation, and Eaton Corporation.