What Is The Overview Of The Global Servers Technology Market?
Server technology involves the hardware and software that provide computing resources, data management, and network services to other devices, ensuring efficient operation and support for various applications and services. It is used to manage network resources, host websites and applications, store and retrieve data, provide email services, support database operations, and facilitate remote access and collaboration.
Servers Technology Global Market Report 2024 provides data on the global servers technology market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The servers technology market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.
What Are The Expected Annual Growth Rates And Market Size Estimates For The Global Servers Technology Market?
The servers technology market has experienced strong growth in recent years. It is expected to grow from $109.47 billion in 2023 to $118.67 billion in 2024 at a CAGR of 8.4%. The historical growth is due to the increasing implementation of virtualization technologies, growing adoption of cloud computing solutions, the expanding need for big data and analytics, and the increasing deployment of IoT devices across sectors. The market is projected to continue its growth, reaching $164.45 billion by 2028 at a CAGR of 8.5%. Growth factors include the increasing focus on edge computing, the growing integration of AI and machine learning, the rapid expansion of 5G networks, the growing adoption of hybrid cloud solutions, and the heightened emphasis on cybersecurity. Key trends in the forecast period include the rise of arm-based servers, containerization, sustainability efforts, increased serverless computing, and data center modernization.
Which Factors Are Boosting Growth In The Servers Technology Market?
The increasing shift toward cloud computing is expected to drive the growth of the server technology market. Cloud computing is a technology that provides access to various computing services such as servers, storage, databases, networking, software, and analytics over the internet. The cloud enables businesses to handle big data, support analytics, and integrate with IoT devices, opening new opportunities for insights and smart applications. Server technology in cloud computing hosts and manages the virtual infrastructure and applications, ensuring secure and reliable access to services. For example, in December 2023, Eurostat reported that 45.2% of European Union enterprises used cloud computing, an increase of 4.2 percentage points from 2021. Therefore, the rising shift toward cloud computing will boost the growth of the server technology market.
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What Key Areas Define The Segmentation Of The Global Servers Technology Market?
The servers technology market covered in this report is segmented –
1) By Product : Blade, Micro, Open Compute Project, Rack, Tower
2) By Enterprise Size: Micro, Small, Medium, Large
3) By End User: Banking, Financial Services And Insurance (BFSI), Energy, Government And Defense, Healthcare, Information And Technology (IT) And Telecom, Other End Users
How Are Emerging Trends Reshaping The Dynamics Of The Servers Technology Market?
In the server technology sector, companies are incorporating AI and machine learning innovations such as Edge AI servers to enhance decision-making and data security. Edge AI servers process data locally in real-time, ensuring improved efficiency and privacy. For instance, in September 2023, Lenovo Group Limited, a China-based technology firm, launched new Edge AI solutions and services, including the ThinkEdge SE455 V3 edge server. This server features real-time data processing and automated machine learning tools, streamlining AI deployment across industries.
Which Region Has The Fastest Expansion In The Servers Technology Maket?
North America was the largest region in the servers technology market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the servers technology market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
