Data Center Managed Services Market Outlook 2031
The global data center managed services market size was valued at USD 284.89 Billion in 2022 and is anticipated to reach USD 1526.02 Billion by 2031, expanding at a CAGR of 20.5% during the forecast period, 2023 – 2031. Growth of the market is attributed to rising demand for edge computing solutions.
A managed data center is a type of data center model in which the data center is deployed, managed, and monitored by a third-party. These data centers provide services ranging from network services to disaster recovery-managed backup. They can be deployed in the cloud or on-premises. As a result, complete hybrid IT management is achieved. Growth of the market is attributed to increased cyber-attacks and rising risk of data leaks. Replication services are one of the most popular managed services for data protection.
Data center security teams can eliminate an entire class of cyber-attacks by hardening software binaries. According to enterprise data storage 2018, data storage requirements are expected to increase from 21,000 Exabyte in 2018 to 32,000 Exabyte’s during forecast period. This necessitates businesses to take precautions to ensure the integrity and authenticity of data.
Data Center Managed Services Market Trends and Opportunities
- Increasing demand from BFSI is projected to drive the market.
- Rising edge computing solutions has fueled the market.
- High cost of installation and timely maintenance is estimated to hinder the market growth.
- Development of managed data center might create immense opportunities for the market players.
Scope of Data Center Managed Services Market Report
The report on the global data center managed services market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Attributes
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Details
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Report Title
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Data Center Managed Services Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2023–2031
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Segmentation
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Types (Managed Storage, Managed Hosting, and Managed Collocation), Applications (BFSI, Energy, Healthcare, Manufacturing, Retail, and Others)
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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Fujitsu Ltd, Cisco Systems Inc., Dell EMC, IBM Corporation, AT&T Corporation
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Data Center Managed Services Market Segment Insights
The managed storage segment is anticipated to hold a major market share
Based on types, the global data center managed services market is segregated into managed storage, managed hosting, and managed collocation. In 2020, the managed data center segment held the major market share of more than 15%. Growth of the segment is attributed to continued integration of cutting-edge technologies into existing and new business infrastructures.
Managed data center services in a hybrid IT infrastructure have the potential to help optimize business operations by improving business automation and strengthening business management. Increased cyber-attacks are expected to drive the adoption of managed security services. In addition, managed security services are widely used in enterprise operations to protect sensitive data.
The BFSI segment is anticipated to expand during the forecast period
On the basis of applications, the global data center managed services market is segregated into BFSI, energy, healthcare, manufacturing, retail, and others. In 2020, the financial services segment held the major market share. Financial institutions are turning to managed services to discourse a variety of issues, such as dealing with technological advances, market and regulatory changes, and a looming shortage of resources with expertise in the latest technologies.
The market in North America is projected to hold a major market share
In terms of regions, the global data center managed services market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America dominated the global market in 2020. The strong emphasis on reducing operational costs by IT companies in the United States, particularly in the aftermath of the pandemic's outbreak, has encouraged them to adopt various managed services to improve operational efficiency.
To remain competitive in the face of ongoing digitalization, businesses in the United States are increasingly relying on managed service providers (MSPs), mostly IT support services.
Segments
The global data center managed services market is segmented on the basis of
Types
- Managed Storage
- Managed Hosting
- Managed Collocation
Applications
- BFSI
- Energy
- Healthcare
- Manufacturing
- Retail
- Others
Regions
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
Competitive Landscape
The major players in the data center managed services market share include Fujitsu Ltd, Cisco Systems Inc., Dell EMC, IBM Corporation, and AT&T Corporation.
Some of these players are using several market strategies such as acquisitions, merger, collaborations, partnerships, capacity expansion, and product launches to enhance their market shares and to generate revenue and raise their production line of the business in the coming years.
