Dublin, Feb. 19, 2024 (GLOBE NEWSWIRE) -- The "India Data Center Market Size & Share Analysis - Growth Trends & Forecasts (2023-2028)" report has been added to ResearchAndMarkets.com's offering.
The India Data Center Market, a crucial component of the country's tech growth, is witnessing a significant surge, positioning the subcontinent as a key player in the APAC region's data-driven economic landscape. With meticulous analysis, this research forecasts a leap from USD 6.12 billion in 2023 to USD 10.89 billion by 2028, indicating a Compound Annual Growth Rate (CAGR) of 12.22% over the forecast period.
Expansion Driven by Digital Demand
The swift shift to the cloud is a response to the burgeoning need for data management solutions capable of handling the voluminous data churned out by businesses. This surge is further catalyzed by the digital consumption behaviors trigged by enhanced e-commerce platforms facilitated through high-speed internet and an array of smart devices.
Government Incentives Fueling the Sector
The sector's growth is also fueled by substantial governmental support. With policy revisions favoring the development of data center infrastructure, the Indian government, complemented by state-level initiatives, is providing tax subsidies to encourage market growth. Incentive schemes across various Indian states align with the national objective of cultivating an environment conducive to data center proliferation.
Infrastructure and Server Innovations on the Rise
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In the server IT infrastructure segment, India sees an emphasis on various advancements with rack servers, virtualized servers, and storage units to cater to the increasing data workload demands.
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Such innovations resonate with the market's demands, where the increase in data centers intensifies the need for robust server infrastructure to meet the computing needs of a digitized economy.
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Given the direct correlation between data centers and server demand, growth in the number of data centers has a knock-on effect on the requirement for server infrastructure.
Market Dynamics
The India Data Center Market is characterized by a landscape of strategic collaborations and partnerships that underpin the competitive edge of key market players. The market, though noted for its initial investment intensity, is evolving through technological enhancements and service expansions by both dominant and emerging entities.
Recent strategic partnerships in the market highlight the collaborative approach towards offering innovative solutions across India, improving access to state-of-the-art data center facilities.