According to a new report, published by KBV research, The Global Data Center Services Market size is expected to reach $361.71 billion by 2031, rising at a market growth of 15.9% CAGR during the forecast period.
The Cloud Providers segment captured the maximum revenue in the Global Data Center Services Market by End User in 2023, thereby, achieving a market value of $143.6 billion by 2031. This growth can be attributed to the rapid adoption of cloud computing solutions across various industries. Businesses increasingly rely on cloud providers for scalable, flexible, and cost-efficient data storage and processing solutions. Additionally, the surge in digital transformation initiatives and the growing demand for hybrid and multi-cloud environments have further boosted this segment’s prominence.
The Installation & integration services segment is experiencing a CAGR of 15.1 % during the forecast period. The increasing demand for seamless deployment of advanced data center infrastructure primarily drives this segment’s growth. Enterprises and cloud providers require expert installation and integration services to efficiently operate servers, storage systems, and networking equipment. The rising adoption of complex IT environments and cutting-edge technologies like AI and IoT has further bolstered the demand for these services.
The Small data centers segment led the maximum revenue in the Global Data Center Services Market by Data Center Type in 2023, thereby, achieving a market value of $144.2 billion by 2031. This segment’s growth is primarily driven by the increasing demand from small and medium-sized enterprises (SMEs) and edge computing initiatives. Small data centers are often favored for their cost-effectiveness, scalability, and ability to address localized data processing needs.
The BFSI segment is growing at a CAGR of 14.2 % during the forecast period. The BFSI sector relies heavily on data centers to manage and secure vast amounts of sensitive financial data, process real-time transactions, and adhere to strict regulatory requirements. With the growing digitalization of banking services, the rapid expansion of fintech, and the increasing popularity of cashless payment systems, the demand for reliable and efficient data center services in the BFSI sector has surged.
Full Report: https://www.kbvresearch.com/data-center-services-market/
The North America region dominated the Global Data Center Services Market by Region in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $132.9 billion by 2031. The Europe region is anticipated to grow at a CAGR of 15.5% during (2024 - 2031). Additionally, The Asia Pacific region would witness a CAGR of 16.5% during (2024 - 2031).
By End User
By Service
By Data Center Type
By Vertical
Unique Offerings 
