Transparency Market Research said data center equipment market revenue includes servers, power distribution systems, storage devices and others.
One of the growth drivers will be investment in digitization that has created demand for data backup facilities and data storage across various industrial sectors.
The IT report said demand for data center devices is increasing due to the need for security of data and improved efficiency in the overall IT infrastructure. Investment in cloud computing, digitization of data and social media presence is also bolstering the need for improved data center equipment.
Industries such as telecommunication, BFSI, healthcare, and pharmaceuticals are investing in data center equipments. The telecommunication segment had the highest revenue contribution in the market in 2013 due to the continuous rise in internet-enabled services.
North America is the largest market for data center equipment due to technological system advancements such as e-discovery and server virtualization.