New York, NY -- (SBWire) -- 10/25/2017 --Datacenter is a centralized repository that provides physical or virtual infrastructure to manage and store data of the organization. The term 'Datacenter' signifies different meanings to different types of organizations. It connotes a small closet or room that contains two or more servers and a network patch panel for small organizations. For large organizations, it signifies a major centralized environment that contains the wide IT systems and solutions that support large and connected applications.

Datacenters are use in various end use industries such as banking and financial institutions, healthcare, IT & telecommunication, information technology, government and retail industry.

The global datacenter installation & construction market is expected to grow at a CAGR of 11.5% during the forecast period and the global datacenter consulting & integration services market is expected to be valued at US$ 20.34 Bn during the forecast period and is expected to exhibit a CAGR of 12.4%.

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Persistence Market Research (PMR) delivers key insights on the global datacenter market based on installation and construction, consulting and integration services, and applications in its latest report titled, "Global Market Study on Datacenters: Healthcare Application Segment to Register a Value CAGR of 12.6% Between 2016 and 2024 ". According to the report, the global datacenter installation & construction market is anticipated to be valued at US$ 40.43 Bn by the end of 2016 and this is projected to increase to US$ 95.56 Bn by the end of 2024.

Global datacenter market dynamics

The challenging economic scenario and macro-economic factors have a great impact on the growth of the internal datacenters. The declining economy put on hold many datacenter projects since it requires large lead time for the datacenter to construct and the considerable amount of investment. The fluctuating economy and growing technology advancements demand flexible and high computational power solutions in the datacenter landscape, thereby leading to the growth of outsourcing of the datacenter. The growing demand to reduce large capital commitments compel many enterprises to outsource the datacenter services or capacity to external service providers.

The accelerated growth in digitization results in the transformation of the datacenter infrastructure as the traditional datacenter architecture is not flexible to adapt to the heavy data volume and variety of the information transferred through different devices. The growing digital transformation through the mobile devices, connected technology, Internet of Things demands the datacenter ecosystem with the high speed of deployment, flexibility, scalability, security and availability of data. This digital transformation leads to the development of the innovative datacenter infrastructure that serves as highly agile, cost- effective and software- defined infrastructure

The datacenter market is undergoing rapid change with the change in focus towards cloud computing, cloud provisioning, cloud migration and cloud-based deployment and automation. The rise in the digital data content and growth of a large amount of data transfer via mobile devices have encouraged the enterprises to shift towards the cloud datacenters. Moreover, companies today are focusing on the benefits such as scalability, flexibility and easy deployment and allocating resources to public, private and hybrid cloud environments. Cloud computing provides new architectural environments to datacenter networking, thereby boosting demand for network services and datacenters.

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Global datacenter market forecast

The installation and construction market is expected to witness a CAGR of 11.5% during the forecast period. This is attributed to the growth of the service provider datacenter sub-segment in the new datacenter builds segment. The growth of mega, localized and midtier datacenter globally leads to the overall growth of the service provider datacenter market. The new datacenter builds segment is expected to register a CAGR of 12.4% during the forecast period and the datacenter rebuilds segment is expected to exhibit a CAGR of 6.3% during the forecast period. The consulting & integration services market is expected to be valued at US$ 20.34 Bn by 2024 and is expected to register a CAGR of 12.4% during the forecast period. The growth in consulting activities is attributed to the growth of network design, network design and planning and security consulting.

On the basis of regions, North America is anticipated to be the most attractive region in terms of value share by 2024. The region is estimated to account for 34.39% value share in 2016 and is anticipated to continue the dominance in value share over 2016–2024.The markets in North America and Europe are anticipated to contribute majorly to the global datacenter installation & construction market. The market in North America is estimated to be valued at US$ 14.67 Bn by 2016 and is expected to register a CAGR of 11.0% during the forecast period. The market in Europe is expected to be valued at US$ 26.40 Bn by 2024. Asia Pacific is the leading region in terms of market value during the forecast period due to emerging economies in the region and faster adoption of technological advancements such as cloud, mobile, and data analytics leading to the growth of datacenter service providers in the region.