PUBLISHER: SkyQuest | PRODUCT CODE: 1458072
PUBLISHER: SkyQuest | PRODUCT CODE: 1458072
Global Modular Data Center Market size was valued at USD 21.24 billion in 2022 and is poised to grow from USD 24.89 billion in 2023 to USD 88.61 billion by 2031, growing at a CAGR of 17.2% during the forecast period (2024-2031).
The need for modular data center applications is being driven by factors including the expanding use of edge computing and the growing demand across industries for green, low-carbon, and environmentally friendly data centers. Moreover, market expansion is anticipated to be aided by the swift pace of the digital revolution. The modular data center industry benefited from the COVID-19 pandemic. The rise in modular data center expansion can be attributed to several factors, including growing board pressure to provide more reliable and secure IT environments, growing corporate awareness of the advantages of cloud services, and the development of local data centers. Italy, a country severely affected by COVID-19, had a 775% rise in Microsoft Teams monthly users. Modular data centers offer additional advantages in addition to all the capabilities of standard data centers. Moreover, many of the construction-related issues with brick-and-mortar data centers are resolved by these kinds of data centers. IT and telecommunications, banking and finance, healthcare, government and defense, retail, media and entertainment, and other industries are among those that use it. Clients of modular data center programmers must agree to a 15-25 year business relationship with a certain vendor. Since many of the components, electronics, and programs of the modular building are private, there is an inherent risk. Increased automation and complexity brought about by greater innovation increase vendor dependency. Thus, it is projected that vendor dependence will restrict the modular data center market's growth.
Top-down and bottom-up approaches were used to estimate and validate the size of the Global Modular Data Center Market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.
Global Modular Data Center Market Segmental Analysis
The market for modular data centers is divided into segments according to location, organization size, component, and organization size. The market is divided into two categories based on components: solutions and services. The market is divided into large, small, and medium-sized firms based on the size of the organization. The market is divided into BFSI, IT & telecom, government & defense, media & entertainment, healthcare, retail, and other segments based on industry vertical. The global modular data center market is divided into five regions: North America, Europe, Asia-Pacific, South America, and Middle East & Africa.
Drivers of the Global Modular Data Center Market
Compared to typical data centers, modular data centers are less expensive in terms of both capital and operating expenses (OPEX and CAPEX). Organizations can save energy costs by only paying for the infrastructure they use thanks to the modular design.
Restraints in the Global Modular Data Center Market
One of the main challenges facing the worldwide modular data center industry is capacity constraints. It may be challenging for the current infrastructure to meet the increasing demand for data.
Market Trends of the Global Modular Data Center Market
Businesses are implementing edge computing solutions due to the growth of the Internet of Things (IoT) and the requirement for real-time processing. For businesses that need to process and store data at the edge, modular data centers are a great option because they can be set up at the edge to serve edge computing applications.