Latest News- Data Center Market in UK: IT infrastructure is expected to lead the Component segment during 2024-2028
The Data Center Market in UK is being driven by Growing adoption of multi-cloud and network upgrade to support 5G
The Data Center Market in UK is expected to grow at a CAGR of 21.8% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 37874 million. In the UK business landscape, data center consolidation has emerged as a strategic initiative for enterprises seeking cost savings and operational efficiency. With escalating operational expenses due to high power consumption and carbon emissions, data center consolidation is expected to gain further momentum. Consolidation offers significant benefits, including cost savings of up to 30%, enhanced security up to 35%, improved efficiency by 50%, and reduced power consumption by 55%. Various enterprises are undertaking consolidation projects through the adoption of colocation data centers and cloud-based services. For instance, National Grid recently engaged Wipro for data center consolidation and the implementation of a next-generation hybrid cloud architecture in the UK.
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Which Factors Are Causing a Surge in Market Growth?
The market is segmented based on Component (IT infrastructure, Power management, Mechanical construction, General construction, Security solutions) Geography (Europe).
According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows:
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Key Features in Data Center Market in UK Research Report
Find out which segment is leading the market by accessing the free PDF report
The UK data center market is witnessing significant growth, driven by the adoption of cloud computing, particularly multi-tenant data centers. The rise of big data, IoT, eCommerce, and digital content is fueling the need for digital transformation, leading to an increase in demand for data centers. Remote working and 5G networks are also contributing to this trend. Physical data centers continue to be important, with electrical and mechanical infrastructure being key considerations. Colocation, hyperscale, cloud data centers, enterprise data centers, micro data centers, and data center ratings are all part of the landscape. Data security, server storage devices, networking equipment, digital data, generative AI, deep learning, high-performance computing, data storage, hybrid cloud, and multi-cloud are essential components of modern data centers.
The Data Center Market in the UK is a significant segment of the global Technology Hardware, Storage, and Peripherals Market, which encompasses manufacturers of servers, electronic components, and peripherals, including data storage components and other IT equipment. The market's expansion is driven by the escalating demand for advanced technologies such as cloud computing, multi-tenant data centers, big data, IoT, eCommerce, digital content, and digital transformation. The shift towards remote working due to COVID-19 has further fueled this demand. Additionally, emerging trends like 5G networks, edge computing, micro data centers, and hyperscale data centers are expected to significantly impact market growth. Technavio's market analysis calculates the market size based on the revenue generated from the sales of these hardware devices, equipment, and components.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
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