Data Center Market Growth, Development and Forecast Report, 2030

NEW YORK - July 8, 2024 - PRLog -- According to P&S Intelligence, the data center market is witnessing growth and is projected to reach USD 622.4 billion by 2030. Data centers precisely are projected to be carbon-neutral by the end of the decade, and the steps being taken to guarantee this is a major trend in the industry.

As per an article by the IEA, the U.K. has an aim to decrease economy-extensive GHG emissions by at least 68% by 2030 from the 1990 levels and attain net-zero carbon releases by 2050. Furthermore, the Dutch government is taking several steps to stop further climate change.

Emissions of greenhouse gases in the Netherlands are cut back through putting up goals and measures and legislating the Climate Act and the National Climate Agreement. The Energy Conversion Act requires a 16% CO2 reduction by 2030 from 1990 levels and aims to reduce emissions by 95% by 2050 to achieve the target. Likewise, the same as the U.S. government, the goal of reducing emissions to 50-52% by 2030 is also highly considered.

Large-scale databases are becoming common grounds for organizations to thrive and make investigation-based decisions, as the restructuring of old rigid models is enabled by these data. Companies handle all kinds of data, use it to enhance their offerings, and deal with clients and these activities result in increasing business revenues. To address this, companies must be prepared to cope with the throughput necessary to manage the increasing data volumes.

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Regional Outlook

• IT infrastructure, including server, storage, and network components, is the largest industry.
• It is estimated to advance at a CAGR of more than 11.6%, upholding its industry position.
• Companies are re-gearing themselves towards highly powered data centers for improved data management.
• In 2023, the IT & telecom industry had more than 40.0% of the industry share because of enhanced software deployment and startup development.
• Technologies such as IoT and 5G will further boost the development in the IT & telecom sector by producing significant data volumes.
• During the projection period, the healthcare category is projected to advance at a substantial CAGR of 10.4%, propelled by the growing importance of data storage in healthcare.
• In 2023, the North American region had a 40% industry share and the region is projected to uphold this position during the projection period, with the U.S. dominating because of its numerous data centers, particularly in northern California where key IT firms are headquartered.