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The Data Center Market is expected to reach US$ 218.6 billion by 2032, registering a CAGR of 7.5%. Growing investment in data center, migration to cloud-based business operations, and increased adoption of converged and hyper-converged infrastructure platforms are major driving factors in market growth. Growing access to IoT and technological innovation, as well as government initiatives for supporting data center development in the form of tax incentives, are also projected to propel the growth of the market in the near future.
