Selbyville, Delaware, April 12, 2022 (GLOBE NEWSWIRE) —
The data center renovation market size is expected to record a valuation of USD 70 billion by 2028, according to the most recent study by Global Market Insights Inc. The market growth is attributed to the increasing focus on improving the efficiency of the existing data centers.
The rising demand from market players to increase their rack & enclosure capacities will spur the industry value. The digital revolution in several sectors has compelled companies to restructure & renovate their IT infrastructure. This has encouraged the formation of strategic partnerships across the industry to cater to the increasing demand. The availability of customer-centric remodeling solutions will lead to the data center renovation market expansion.
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The growing number of SMEs are driving the need for the data renovation services in data center colocation facilities. In 2021, Europe accounted for around 23 million small business, signifying around 99% of all businesses. This factor accelerated software usage in inventory management, advertisements, data storage, post-sale services, manufacturing, and supply chain & logistics. Companies situated in remote locations with limited fundings are relying on colocation data centers for necessary IT infrastructure. The overall increase in customer base will compel facility managers to modernize their systems, thereby fueling industry growth.
The adoption of Industry 4.0 in the Asia Pacific manufacturing sector will enhance the data center renovation market progression. Government authorities are promoting the use of advanced technologies, such as AI, IoT, robotics, and cloud computing, in their production sites. Growing awareness and easy accessibility to training will help the market participants in deploying these solutions in existing infrastructure. This will create growth opportunities for the market as data center facility administrations will require the upgrading of their IT infrastructure to manage data traffic.
Major players operating in the data center renovation market are Vertiv Co., Eaton Corporation, Schneider Electric, Cisco Systems, Inc, APL Data Center, Black & Veatch Holding Company, Panduit Corporation, Dorsalys (Eiffage Énergie Systèmes’), and IBM Corporation. The rising focus of these participants on introducing advanced solutions will foster the industry expansion.
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Some of the major findings of the data center renovation market report are:
- Government initiatives & regulations to reduce the energy consumption of existing data centers will mandate facility managers to update their systems for adhering to the new standards.
- The growing demand for data center renovation solutions & services from several industries, such as manufacturing, healthcare, and BFSI, will boost the industry progression during the forecast period. Upgrading enables facility owners to remotely manage & monitor different site parameters.
- The increasing use of online services for payment, shopping, travelling, entertainment, and medical applications will propel the overall data traffic across multiple sectors. This factor will encourage the data center renovation market leaders to modernize their back-end IT infrastructure to handle the on-going market changes.
Table of Contents (ToC) of the report
Chapter 3. Data Center Renovation Market Insights
3.1. Industry segmentation
3.2. Impact of coronavirus (COVID-19) pandemic
3.3. Impact of Russia-Ukraine war
3.4. Industry ecosystem analysis
3.5. Technological & innovation landscape
3.6. Data center architecture
3.7. Regulatory landscape
3.8. Industry impact forces
3.8.1. Growth drivers
3.8.2. Industry pitfalls & challenges
3.9. Growth potential analysis
3.10. Price trend analysis
3.11. Porter’s analysis
3.12. PESTEL analysis
Browse Complete Table of Contents (ToC) @ https://www.gminsights.com/toc/detail/data-center-renovation-market
About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.