As Sherlock Holmes famously said, “Data, I need data! You can’t make bricks without clay.” And whether you use bricks or other building materials, construction companies today cannot build their businesses without data. Data is everywhere and collecting, analyzing, and using it has become the building blocks of profitability.
With the forced slowdown in construction activity during the COVID-19 crisis, more emphasis is being placed on data to determine the best approaches to restarting businesses across all areas of the economy and using data is part of the process. The increasing need to store the ever-growing volume of data being generated by artificial intelligence applications, machine learning projects, IoT (Internet of Things) requirements, and big data in general is fueling the demand for increased data center infrastructure and the cloud is a significant part of that movement. Cloud service providers accounted for a significant market share in 2019 according to a recent report by Researchandmarkets.com.
The data center infrastructure market is also growing due to an increase in demand for servers, computers, networking equipment like routers or switches, security components like a firewall or biometric security sensor, storage capacity, and data center management software and applications.
A factor that came to light during the COVID-19 pandemic is the aging of much of the large IT infrastructure. Government agencies, such as the IRS, found their data systems unable to cope with the surge mandated by new laws aimed at stimulating the economy or fighting the coronavirus. When a call went out for programmers fluent in COBOL, FORTRAN, and Basic Assembly Language, the age of their legacy computing systems was obvious. The data-center market growth, therefore, also owes a lot to an aging IT infrastructure insufficient to store the current data volume. As such, companies are moving towards more intelligent physical infrastructure data center systems.
All in all, Researchandmarkets.com predicts the Global Data Center Infrastructure market to grow at a CAGR of 6.79% during the forecast period, reaching a total market size of $230.169 billion in 2025 from $155.201 billion in 2019.
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