PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1509540
PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1509540
Global data center as a service market is estimated to be valued at US$ 89.58 Bn in 2024 and is expected to reach US$ 289.91 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 18.3% from 2024 to 2031.
Data center as a service (DCaaS) provides a comprehensive suite of data center services, including infrastructure as a service, servers, storage, networking components, and software, on a rental or pay-per-use basis, allowing organizations to access and utilize these resources without the need for capital expenditures or extensive IT infrastructure management. With increasing adoption of cloud computing across various industries, many organizations are opting for data center services to focus more on their core business operations and avoid huge capital expenditure. Data center as a service allows organizations to pay only for the resources used or needed, and this helps in optimizing IT spending. Various benefits such as ease of scalability, flexibility, reduced cost of ownership and remote management boosts demand for data center services globally.
Global data center as a service market growth is driven by growing adoption of cloud computing services among organizations. Shift towards virtualization and need for optimized IT infrastructure propels many companies to utilize data center services. Rapid digitalization across industries generates a large amount of data, and this boosts demand for scalable and efficient data center solutions. However, high initial investment associated with deployment of data center infrastructure and security & privacy concerns related to sensitive organizational data can hamper the market growth. Rising preference for automated cloud-based solutions to improve operational efficiency can offer an opportunity for market players.
Key Features of the Study:
Detailed Segmentation-