The data center solutions market is estimated to grow to $32.30 billion by 2020, at a Compound Annual Growth Rate (CAGR) of 11.7 percent, from $18.56 billion in 2015, said Research and Markets.
The main growth driver is the number of data centers with requirement of storage facilities and data center infrastructure.
The main data center services are consulting, system integration, and professional services. Out of this, professional services show great opportunities and is projected to grow at a highest CAGR by 2020. The telecom and IT sector is investing more in data center solutions area as compared with industry verticals such as BFSI, Telecom and IT, government, energy, healthcare, and others.
North America is expected to hold the largest market share in 2015, whereas Asia Pacific is projected to be at top with highest market share by 2020, due to the developing infrastructure and increasing number of data centers in this region.
The IT market report said BFSI and telecom and IT offers potential growth opportunities for data center solution providers. SMBs and large enterprises are turning towards building new data centers to defend against potential threats, such as advanced network security threats and other zero-day vulnerabilities.