Data Center Infrastructure Management Market Growing Awareness of Energy Efficiency and the Impact of Government Regulations
The Data center infrastructure management market is expected to witness a surge in demand across the globe owing to its increased emphasis on energy-efficient data centers. The growing impact of regulatory norms pertaining to data centers is also expected to accelerate the demand for Data Center Infrastructure Management Market solutions.
DCIM solution vendors include IT asset management providers, facility management providers, and consulting service providers, and together, they are anticipated to drive the global market at a CAGR of 21.1% during the forecast period of 2016 to 2024. The revenue of the global Data Center Infrastructure Management Market stood at US$529.5 mn in 2015 and is projected to reach US$2,859.2 mn by 2024.
Based on solution, IT asset management solutions held the leading share in 2015. The combined growth of IT assets and Data Center Infrastructure Management Market software is expected to contribute to the growth of IT asset management solutions segment over the forecast period. The IT asset software segment is expected to account for the leading market share among all the other types of components considered. However, the segment of DCIM software is expected to expand at the highest CAGR from 2016 to 2024.
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The application of DCIM solutions is greater in the IT and telecom sectors as compared to other industry verticals. However, in the coming years, the adoption of Data Center Infrastructure Management Market technology is expected to increase in the banking, financial services, and insurance (BFSI), healthcare, and retail sectors as well.
North America to Lead DCIM Market as Europe Exhibits Consistent Growth Through 2024
The global Data Center Infrastructure Management Market has been geographically segmented into North America, Europe, Asia Pacific, South America, and the Middle East and Africa. North America was the leading regional market in terms of revenue in 2015, supported by the presence of a large number of DCIM solution providers and existing data centers. The U.S. is expected to be a significant contributor to the Data Center Infrastructure Management Market in North America.
Europe is anticipated to maintain a consistent market share during the forecast period owing to growing awareness regarding green data centers and the subsequent demand for the same over the forecast period. The Europe Data Center Infrastructure Management Market is projected to expand at a CAGR of 19.3% from 2016 to 2024. Due to the growth of the IT and service sectors, Asia Pacific is expected to remain a fairly attractive market for Data Center Infrastructure Management Market solutions in the coming years. Countries such as China and India are expected to witness a significant adoption of DCIM-based solutions. Countries in the MEA and South America are expected to make a comparatively lesser contribution to the DCIM market in the coming years.