The global mega data center market is expected to show substantial growth over the forecast period, on account of rising demand for data storage owing to the growing amount of data traffic. Increasing business needs have pushed the demand for expansion of data storage capacity. Mega data centers offer high storage capacity, bandwidth, computing capacity and facilitate large scale data transfer. They are operationally cost-effective, reliable, scalable and an efficient solution for meeting the demands of large scale data storage. Companies such as Facebook, Microsoft, Amazon, Google, etc. have enormous data storage requirements and prefer to operate gigantic mega data centers to meet their storage needs.
The global mega data center market is driven by the need for data center consolidation and cost benefits associated with them. Rather than having several data centers that may or may not be in the same location, it is easier and more cost-effective to operate a single mega data center. The growing usage of cloud services for data storage is also expected to drive the market over the next six years. Mega data centers require huge investment and approval from government authorities. Also, there are high chances of error multiplication when using such data storage mechanism. These factors are expected to restraint market growth over the forecast period. However, new infrastructure solutions and the availability of co-location centers are expected to serve as key opportunities for the market’s growth.
Mega data center market can be segmented on the basis of solution and services, end-users, and application industry. Solutions offered by mega data centers include cooling, IT infrastructure, management software, networking, power, security, server, storage, and support infrastructure. System integration, monitoring, and professional services are offered by mega data centers. End-users of these data centers include enterprises, cloud service providers, and co-location providers. Mega data centers can be employed to meet the storage needs of Banking, Financial Services, and Insurance (BFSI), government, public, media, and entertainment, telecom & IT, and others.
North America is the leading market for mega data centers owing to the presence of a large number of e-commerce vendors in the region. Key players in the mega data center market include Cisco Systems Inc., Dell Software Inc., EMC Corporation, Emerson Network Power, Fujitsu Ltd, Hewlett-Packard Company, IBM Corporation, Intel Corporation, Juniper Networks Inc. and Schneider Electric SE.
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Artificial Intelligence (AI), Virtual Reality (VR), and Augmented Reality (AR) solutions are anticipated to substantially contribute while responding to the COVID-19 pandemic and address continuously evolving challenges. The existing situation owing to the outbreak of the epidemic will inspire pharmaceutical vendors and healthcare establishments to improve their R&D investments in AI, acting as a core technology for enabling various initiatives. The insurance industry is expected to confront the pressure associated with cost-efficiency. Usage of AI can help in reducing operating costs, and at the same time, can increase customer satisfaction during the renewal process, claims, and other services. VR/AR can assist in e-learning, for which the demand will surge owing to the closure of many schools and universities. Further, VR/AR can also prove to be a valuable solution in providing remote assistance as it can support in avoiding unnecessary travel. The report will account for Covid19 as a key market contributor.