According to a new report by Transparency Market Research, the opportunity in the global DCIM market stood at US$ 529.5 mn in 2015 and is likely to be worth US$ 2859.2 mn by 2024, registering a strong CAGR of 21.1% from 2016 to 2024.
Transparency Market Research has observed that the rivalry among existing companies in the DCIM market is presently high as leading players are acquiring smaller enterprises to gain market share. New product development, business partnerships, and diversification are also key strategies adopted by the leading companies to remain competitive.
“The surging usage of internet across the globe has resulted in the generation of massive amounts of data, which in turn, has driven the growth of data centers,” states the author of the study. Most data centers operate round the clock and consume significant amounts of energy for lighting, cooling, heating, and IT equipment. “Data centers today are prompted to curb energy consumption and optimize efficiency and DCIM solutions have fulfilled this very demand. This is one of the key factors fueling the data center infrastructure management market,” the analyst says.
The market is also anticipated to be driven by the rise in government regulations pertaining to carbon emissions. “Governments around the world have been paying increased attention to the alarming rise in carbon emissions and are enforcing regulations to drive companies to build and use green data centers,” the analyst comments. The DCIM market is projected to benefit from this emerging trend in the coming years.
On the down side, the lack of expertise and awareness regarding the benefits of DCIM solutions are likely to inhibit the growth of the global market. High initial investment also acts as a barrier for several small-to-medium enterprises.