Albany, NY, Feb. 15, 2016 (GLOBE NEWSWIRE) -- Transparency Market Research has announced the release of a new report, The global data center equipment market will expand at a 12.90% CAGR during the forecast period from 2014 to 2020. In 2013, the global data center equipment market was worth more than US$32.1 bn and by 2020, it is projected to be worth US$72.0 bn.
The global data center equipment market is driven by the rising virtualization in network environments. Moreover, the elevated adoption of cloud services and big data will also fuel the global data center equipment market. On the other hand, the global data center equipment market will be challenged by the high energy consumption and cooling issues of data centers. Furthermore, the lack of a skilled workforce will also continue to hamper the global data center equipment market in the coming few years.
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Broadly, the global data center equipment market is segmented on the basis of product, application, and geography.Product-wise, the global data center equipment market is divided into servers, storage devices, power distribution systems, and others. Data center equipment is extensively used in various end-use industries because of proliferation of digital data and also for effective data management to extract strategic and crucial information.
Application-wise, the global data center equipment market is classified into business enterprises, government, manufacturing, retail, healthcare, manufacturing, telecommunications, banking, financial services, and insurance (BFSI), and others. In 2013, the telecommunications segment led the global data center equipment market. This is mainly because of the unparalleled online presence of banking consumers around the world and continuous growth in internet-enabled services. These services have resulted in the exchange of a large amount of data over the web, which has led to an elevated demand for tools that can offer safety, data integrity, and high standards at data centers.
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Regionally, the global data center equipment market is segmented into Asia Pacific, Europe, North America, and Rest of the World (RoW). In the coming few years, North America is projected to dominate the global data center equipment market. The North America market is driven by rising technological innovations such as e-discovery, dependence on important programs for business procedures, and server virtualization. Moreover, the exponential growth in data generation in North America will also benefit this regional market. In 2013, North America and Europe collectively held 49.3% of the global data center equipment market.
Players in the global data center equipment market will enjoy the significant opportunities provided by software-defined data centers. Another trend that will generate market opportunities is the rising demand for green data centers. The key leading companies operating in the global data center equipment market are Hewlett-Packard, Emulex Corporation, F5 Networks, Alcatel-Lucent, NEC Corporation, and Schneider Electric SA.
Key Segments of the Global Data Center Equipment Market
Global Data Center Equipment Market, by Product
- Power Distribution Systems
- Storage Devices
Global Data Center Equipment Market, by Application
- Banking, Financial Services and Insurance (BFSI)
- Business Enterprises
- Others (R&D, educational institutions, media and entertainment)
Global Data Center Equipment Market, by Region
- North America
- Asia Pacific
- Rest of the World (RoW)
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Source:Transparency Market Research