Performance of various component segment in the global data center market.

The global data center market is expected to grow at a CAGR of 17.01% during the forecast period. Based on the component, the global data center market has been segmented into IT infrastructure, power management system, mechanical construction, general construction, and security solutions.

The use of IT infrastructure is increasing owing to the increase in demand for computing power and storage to support the growth in global data traffic. Enterprise globally have embraced cloud technologies and are moving their data from on-premise data centers to cloud-based data centers. This trend is expected to continue during the forecast period to create the demand for servers and storage infrastructure, and other IT equipment.

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Another reason for the growth of this segment is the rise in investments in hyperscale data centers (HDC). HDC site consists of numerous physical servers and virtual machines. The rise in investment in HDCs can be attributed to their advantages such as high scalability, cooling efficiency, and workload balancing inside these facilities. They also offer higher data storage and computing speed. The increase in the number of HDCs is estimated to create demand for data center IT infrastructure and driving the global data center market during the forecast period.