MANAGED DATA CENTER SERVICES MARKET SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS (2023 - 2028)

Managed Data Center Services Market Analysis:

The managed data center services market is projected to exhibit a Compound Annual Growth Rate (CAGR) of 20.5% during the forecast period. As per the recent AFCOM State of the Data Center Industry study, the percentage of respondents with over 1,000 employees has increased by 12 points from the previous year to 54%. Furthermore, the report from the prior year has shown a remarkable diversity of industries, with healthcare and pharmaceuticals, education, computer/data processing/IT services, finance/banking/investment, and construction/engineering/architecture being the top five sectors represented.

Enterprises may opt for managed data center services to move away from physical infrastructure, resulting in cost savings. The cost of owning a data center is substantial, and there are numerous associated devices in the market. The metaverse concept is also gaining momentum as a significant factor driving industry growth. Data center services are expected to become more popular as they provide businesses with a cost-effective way to expand their IT operations without investing in additional hardware.

The market is expanding due to the increasing cyber threats and the possibility of data leakage. Replication is one of the most popular managed services for data protection. Cyber hardening reduces attack surfaces and prevents malware from spreading uniformly. Data center security teams eliminate a whole class of threats by hardening software binaries.

Business continuity and availability are two of the primary concerns for data center services. If there is a provider or WAN outage, applications used by data centers may become inaccessible. Even though a service-level agreement covers the availability of data center services, unexpected downtimes are expected to have significant consequences. Additionally, as data center services are part of cloud computing, they are vulnerable to various online threats. It is anticipated that data security and availability will impede industry growth.

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