In current enterprise environments, organizations increasingly rely on data centers as a means to archive sensitive and important information in addition to powering mission-critical applications. Enterprises utilize such technology in a number of ways, most prevalent of which being cloud computing. The study also found that many companies grapple with external cloud solutions, and are increasingly adopting on-premise cloud infrastructures.
During this rapid expansion of enterprise storage and data center colocation service needs, the global data center market is reaping the benefits. Although many businesses are utilizing on-premise solutions, experts predict that the global data center market is also set to significantly grow in the next two years.
Current forecasts for the overall data center market project that the industry will post a compound annual growth rate of 10.71 percent during the 2012 to 2016 timeframe based on Technvaio research. Additionally, the global data center rack market is also on the track to expand, as the industry will likely post 11.13 CAGR during the same time period.
The growth in these global markets is primarily due to the high number of data center openings currently taking place. As the demand for enterprise data storage and Internet traffic grows, so too will the data center market.