According to a new report published by MarkWide Research, titled, “Data Center Asset Management Market,” the global market for data center asset management solutions is positioned for substantial growth, with an anticipated compound annual growth rate (CAGR) of 8.2% during the forecast period of 2023 to 2030. This surge in demand is driven by the critical need for efficient and streamlined management of data center assets in an increasingly digitized world.
Key Market Insights:
- Resource Optimization: Data center asset management solutions enable organizations to optimize resource allocation, reduce operational costs, and enhance asset lifecycle management.
- Real-Time Monitoring: The ability to monitor assets in real-time, including hardware, software, and infrastructure, is essential for ensuring data center efficiency and reliability.
- Data Security and Compliance: Asset management solutions play a pivotal role in ensuring data security and compliance with regulatory requirements by tracking and managing assets effectively.
- Global Adoption: Emerging markets, particularly in Asia-Pacific and Latin America, are experiencing significant growth in data center infrastructure, driving the demand for asset management solutions.
The data center asset management market is expected to reach a valuation of $3.6 billion by 2030, up from $1.7 billion in 2023. This substantial growth underscores the indispensable role of asset management solutions in ensuring the smooth operation of data center facilities.
Factors Driving Market Growth:
- Data Center Expansion: The proliferation of data and the growth of cloud computing are driving the expansion of data center facilities, necessitating efficient asset management solutions.
- Data Security Concerns: Heightened data security concerns and regulatory compliance requirements are pushing organizations to invest in robust asset management solutions to safeguard sensitive data.
- Remote Management: The need for remote asset monitoring and management capabilities, especially in multi-site or global data center operations, is fueling the adoption of asset management solutions.
- Energy Efficiency: Asset management solutions can contribute to energy efficiency efforts by identifying underutilized or obsolete assets and optimizing their use.
The data center asset management market is segmented based on solution type, deployment mode, end-user industry, and region.
By Solution Type:
- Hardware Asset Management
- Software Asset Management
- Service Asset Management
By Deployment Mode:
By End-User Industry:
- IT & Telecom
- North America
- Latin America
- Middle East & Africa
The data center asset management market is highly competitive, with several key players competing for market share. Prominent companies in this space include IBM Corporation, Hewlett Packard Enterprise (HPE), ServiceNow, Inc., and SolarWinds Worldwide, LLC, among others. These companies continue to innovate and enhance their asset management solutions to cater to the evolving needs of data center operators.
The data center asset management market is set for significant growth, driven by the imperative need for efficient and secure management of data center assets. As organizations continue to expand their data center infrastructure and prioritize data security, asset management solutions will remain integral to their operational strategy. With an expected CAGR of 8.2% through 2023-2030, the market offers abundant opportunities for businesses aiming to excel in data center asset management.