NEW YORK, Dec. 15, 2024 /PRNewswire/ — The global data center it equipment market size is estimated to grow by USD 73.6 million from 2024 to 2028, according to Technavio. The market is estimated to grow at a CAGR of 9.44% during the forecast period. The report provides a comprehensive forecast of key segments below-
Segmentation Overview
- Product
- 1.1 Server equipment
- 1.2 Storage equipment
- 1.3 Network equipment
- 1.4 Others
- End-user
- 2.1 IT and telecommunication
- 2.2 BFSI
- 2.3 Government and public
- 2.4 Healthcare
- 2.5 Others
- Geography
- 3.1 North America
- 3.2 Europe
- 3.3 APAC
- 3.4 South America
- 3.5 Middle East and Africa
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1.1 Fastest growing segment:
Data center servers play a crucial role in processing, storing, and distributing data for various applications and workloads. Enterprises and service providers rely on servers to support their operations, with rack servers being the most widely used type. These servers can be installed in frames called racks, accommodating other hardware equipment. Rack servers are popular among enterprises and SMEs due to their suitability for fixed business requirements and efficient use of space. The data center server infrastructure segment has seen significant growth in the past five years and is expected to continue expanding. This growth is driven by the increasing adoption of cloud services, data-intensive applications, and the need for scalable and high-performance computing solutions. The server equipment market is expected to grow steadily during the forecast period, with investments being made in the expansion and building of new data centers, as well as technology refresh cycles. Other server types include blade, tower, and modular servers, each catering to diverse computing requirements. Despite the capital expenditure (CAPEX) model’s dominance, there is a shift towards the operational expenditure (OPEX) model to optimize server infrastructure utilization and reduce costs. This trend has also fueled the demand for server consolidation, virtualization, and containerization.
Analyst Review
The Data Center IT Equipment Market is experiencing significant growth, driven by various factors in the foodservice industry. The plastic segment is currently dominating the disposable plates market due to its affordability and convenience. However, the household sector is shifting towards biodegradable plates as part of a growing trend towards sustainable practices. The coronavirus pandemic has further accelerated this trend as consumers demand more hygienic and disposable options. Urbanization and Westernization have led to an increase in fast food consumption and takeaway food chains, driving demand for disposable plates. Biodegradable plates made from renewable resources, such as sugarcane, corn starch, and potato starch, are gaining popularity due to their biodegradability and eco-friendliness. The food packaging industry is also embracing sustainability, with an increasing focus on sustainable packaging solutions. Millennials, who prioritize convenience and environmental concerns, are a key consumer demographic driving this trend. Restaurants, hotels, and commercial places are adopting customized disposable plates to enhance their branding and customer experience. Sales channels, including food delivery apps and roadside vendors, are also adopting biodegradable plates to meet consumer demand. Manufacturing businesses and the food delivery industry are investing in product innovations to meet the growing demand for sustainable and hygienic disposable plates. Environmental concerns, sustainability, and hygiene and safety are the key driving factors for the market, while restraints include cost and availability of raw materials.
Market Overview
The Data Center IT Equipment Market is experiencing significant growth due to the increasing demand for sustainable and eco-friendly solutions in various industries. One such segment witnessing is the Foodservice Disposables Market, which includes biodegradable plates made of plastic. The household sector, fast food consumption, and takeaway food chains are major contributors to this market’s growth. The coronavirus pandemic has further accelerated the trend towards disposable plates due to hygiene and safety concerns. Biodegradable plates are gaining popularity due to their environmental benefits, aligning with the growing trend of sustainable packaging. Urbanization and Westernization have led to an increase in the number of commercial places, hotels, and restaurants, driving the demand for disposable plates. The foodservice industry, including roadside vendors and events, also contributes significantly to the market’s growth. Product innovations, such as customized disposable plates, are trending, catering to the changing consumer lifestyles and preferences of millennials. The food delivery industry, including food delivery apps, is also driving the demand for biodegradable plates due to their convenience and sustainability. However, the market faces restraints due to the environmental impact and the need for sturdiness and durability. Overall, the Data Center IT Equipment Market’s growth is influenced by various factors, including sustainability, convenience, changing consumer lifestyles, and environmental concerns. Industry sources suggest that manufacturing businesses are focusing on product innovations to cater to the evolving market demands.
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Key Topics Covered:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Venodr Landscape
11 Vendor Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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SOURCE Technavio
