The data center market is witnessing a robust Compound Annual Growth Rate (CAGR) driven by escalating investments from both government bodies and large enterprises in IT infrastructure. This surge in data centers is further propelled by businesses rapidly transitioning to cloud environments. The data center market is valued at USD 206.2 billion in 2021 and is projected to attain a CAGR of 10.20%, reaching approximately USD 404.9 billion by 2022’s end. This growth is attributed to increased investments, especially in government and large enterprise IT infrastructure, and the swift migration of businesses to cloud-based environments. Moreover, the data center market is stimulated by the augmented adoption of advanced technologies like AI, IoT, machine learning, and big data.
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