The global data center services market is expanding rapidly driven by rising data volumes, increasing cloud adoption and digital transformation across sectors. Data center services encompass designing, building, implementing, monitoring and overall management of enterprise data centers and colocation facilities. With data emerging as the most valuable asset for organizations today, the market outlook remains positive.

Market Segmentation The data center services market is segmented by service type, enterprise size, industry vertical, and region. Key service types are consulting, integration, maintenance, and support. Based on enterprise size, the market caters to SMEs and large enterprises. Leading industry verticals served include IT & ITeS, BFSI, manufacturing, healthcare, and government. The major regional markets are North America, Europe, Asia Pacific, Latin America and MEA.

Market Growth

The data center services market is projected to grow at a CAGR of over 21.86% from 2023 to 2030 to exceed USD 280.6 billion by 2030. Market growth will be driven by rising investments in new data centers globally to meet increasing storage and computing demand. Increasing complexities of data center infrastructure are also compelling enterprises to leverage managed services for optimal performance.

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Key Companies Leading data center service providers include:

HPE, IBM, Cisco, Dell Technologies, Fujitsu, Vertiv, NTT Communications, AT&T, Microsoft, Schneider Electric, Huawei, Equinix and CyrusOne. Large players offer a comprehensive range of consulting, design, integration and operational services for data centers. Mergers and acquisitions are a key growth strategy adopted by companies to expand their capabilities. For instance, in 2022, CyrusOne was acquired by investment firms KKR and GIP to expand its data center footprint.

Market Drivers Major factors fueling the growth of data center services include:

• Rapidly increasing enterprise data volumes requiring scalable storage and computing infrastructure
• Shift from on-premise data centers to colocation and hybrid models
• Complexity of managing mission-critical facilities and need for specialized data center expertise
• Growing need to reduce CAPEX and OPEX through outsourced services
• Requirement for data center solutions supporting sustainability objectives
• Rising demand for disaster recovery, backup and business continuity services

Outsourcing data center needs to third-party specialists is a major factor driving market demand.

Regional Insights North America accounts for the largest share of the global data center services market presently. Increased investment in data centers offering edge computing will continue driving North America's market. The APAC market will grow at the fastest CAGR owing to data localization policies in India, Indonesia and China. Expansion of colocation facilities to serve digital natives will further the APAC market growth.

Industry Latest News Key developments shaping the competitive landscape include:

• Equinix expanding its global data center footprint with new facilities in South America, North America and APAC.
• NTT launching global data center division in 2022 encompassing e-shelter, Gyron, Netmagic, RagingWire and other acquired brands.
• CyrusOne acquired by KKR and GIP investment firms for USD 15 billion to grow its data center capacity.
• Vertiv acquiring Indian modular data center provider E&I Engineering Services to expand offerings.
• Schneider Electric unveiling several sustainability initiatives around energy efficiency for data centers.

Technology advancements in cloud, IoT, 5G and AI are increasing demand for robust data center infrastructure and services. With data center capacity expected to grow globally, the market presents tremendous opportunities.