The data and analytics company also said businesses are increasingly reliant on data centres to provide cloud services, which will drive a significant market expansion over the next decade.
David Bicknell, Principal Analyst in the Thematic Research team at GlobalData said, “Data centre-provided cloud services have allowed remote workers to collaborate with colleagues, provide entertainment for locked-down citizens, deliver online learning and enable online shopping.
“At the same time, the pandemic-driven accelerating shift to the cloud has put a premium on flexibility. This will drive the adoption of new architectures and software-defined, programmable infrastructures within data centres.”
GlobalData forecasts that data centre revenues will hit $948 billion by 2030, up from $466 billion in 2020 and having grown at a compound annual growth rate (CAGR) of 6.7% over this period.
The company’s latest Thematic Research report, ‘Data Centres’, reveals that much of this market growth will come from the building of massive hyperscale data centres.
New edge data centres will also cater to increasing levels of enterprise-generated data being created and processed outside remote data centres or the cloud.
The next few years will also see increased mergers and acquisition (M&A) data centre activity, with special purpose acquisition companies (SPACs) being created to buy up data centres.
“Data centres have gone from anonymity to seeing their staff now designated as key workers. But this new-found utility status may be a double-edged sword,” added Bicknell.
“Governments will now have higher expectations of the data centre sector. The expansion of data centres reflects the need for increased artificial intelligence (AI) processing capabilities, but these have a poor carbon footprint.
“With governments focused on climate change, meeting stringent sustainability targets will be an unwelcome reward for an industry that excelled during the pandemic.”
