The data center server market is expected to grow by USD 69.25 million during 2020-2024, expanding at a CAGR of over 14%. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. We expect the impact to be significant in the first quarter but gradually lessen in subsequent quarters – with a limited impact on the full-year economic growth, according to the latest market research report by Technavio.
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Technavio has announced its latest market research report titled Global Data Center Server Market 2020-2024 (Graphic: Business Wire)
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Data Center Server Market: Enterprise Server Refresh Cycles to Drive Growth
Enterprises usually undergo IT system refresh cycles to ensure proper functioning of their servers, storage, and network infrastructure. In addition, many companies are exhibiting high interest in purchasing highly configured servers for high-performance computing tasks. Besides, to avoid high initial capital investments, some enterprises are signing leasing or rental agreements with vendors for a fixed duration, which allows them to pay in installments. For instance, in 2017, Dell Technologies introduced a flexi-consumption model to offer its clients a fixed and buffer server installed base. The company will be continuously tracking the server requirements and usage patterns. If a client uses the buffer server installed base very frequently, then the consumption model is modified and scaled up as per the requirements.
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As per Technavio, investments in scaling up in-house data centers will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.
Data Center Server Market: Investments in Scaling up In-house Data Centers
Many enterprises are focusing on scaling up their in-house data centers. This is due to the rising adoption of hybrid cloud approach among organizations as it allows them to store critical business applications in the private cloud environment. For example, retail banks run their core banking applications on a private cloud and host their human resource applications in a public cloud. Therefore, rising investments in scaling up of in-house data centers are expected to positively influence the growth of the global data center server market during the forecast period.
“The use of server disaggregation to improve utilization rates and expansion of data centers by hyperscalers will further boost market growth during the forecast period”, says a senior analyst at Technavio.
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Data Center Server Market: Segmentation Analysis
This market research report segments the data center server market by Type (Rack server, Blade server, Tower server, Microserver, and Open compute project (OCP) server) and Geography (North America, APAC, Europe, South America, and MEA).
The rack server segment led the global data center server market in 2019. Rack servers require less space and can be supplemented with extra memory, processors, and storage as per end-user requirements. Hence, they are increasingly being adopted by SMEs. These factors are contributing to the growth of the segment.
The North America region led the data center server market in 2019, followed by APAC, Europe, South America, and MEA respectively. However, during the forecast period, APAC is expected to register the highest incremental growth due to the extensive use of big data analytics, online video streaming and gaming, and cloud services by enterprises and consumers in the region.
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