Data Center Asset Management: Introduction
- Data center asset management solutions and services help to maintain an inventory of data center assets and real-time views across data centers, counting equipment in racks such as networking equipment, storage, rack PDUs, servers, patch panels, and others.
- Data center asset management helps IT departments to effectively manage their data centers with powerful tools, thereby driving the adoption of data center asset management software among organizations across the globe.
- Crucial need to improve data center efficiency and uptime along with the need to integrate monitoring systems and rising data center optimization initiatives are driving the growth of the data center asset management market.
- Data center asset management provides real-time monitoring and controlling; also, it saves operational expenditure and time required, thereby, enhancing the adoption of data center asset management across various industries.
- The global data center asset management market is projected to expand at a rapid pace during the forecast period, due to the rise in number of data centers in developing as well as developed countries across the globe.
Global Data Center Asset Management Market: Dynamics
Global Data Center Asset Management Market: Key Drivers
- An increasing number of data centers across the world, growing focus on improving the efficiency of data centers, and rise in number of collocation centers are the prime factors responsible for the growth of the data center asset management market.
- Exponential growth in the amount of data consumed by various industry verticals has led to demand for data storage solutions and services over the last few years. The rising data and storage requirement increases the data center costs. Organizations across the globe are adopting data center management solutions and services in order to improve operations of data centers, minimize cost, and maximize profits. This factor is likely to propel the growth of the data center asset management market.
- Technological transformations in data centers along with rise in complexities and overhead costs of data centers are the other factors fueling the demand for data center asset management.
- Growing focus on better inventory management and resource planning are likely to provide ample growth opportunity for players of the data center asset management market in the coming years.
Impact of COVID-19 on the Global Data Center Asset Management Market
- Increasing cases of COVID-19 across the globe is resulting in economic slowdown. Hence, demand for digital and advanced technology solutions is increasing across all sectors around the globe. Demand for data and storage requirements is increasing during the pandemic and demand for data center asset management is growing. This is projected to positively impact the growth of data center asset management in the next few years.
North America to Hold Major Share of the Global Data Center Asset Management Market
- In terms of region, the global data center asset management market can be divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America.
- North America dominated the global data center asset management market. Developed economies such as the United States and Canada are set to witness the highest growth in the market due to changing traditional data center management practices.
- The market in Asia Pacific is anticipated to grow at a fast pace during the forecast period due to the rapid development of infrastructure and increasing number of data centers in the region.
Global Data Center Asset Management Market: Competition Landscape
Several players are active in the data center asset management market with a strong presence. Vendors of the data center asset management market are focusing on various growth strategies such as mergers and acquisition, partnerships, collaborations, new product launches, and business expansions to improve their offerings and reach, to cater to the needs of the market.
Key Players Operating in the Global Data Center Asset Management Market Include:
- IBM Corporation
- Schneider Electric
- Emerson Network Power
- Nlyte Software
- Optimum Path, Inc.
- Broadcom Inc.
- Device42, Inc.
- Huawei Technologies Co. Ltd.
- Modius, Inc.
- AssetPoint, Inc.
- DCIM Solutions
- AlphaPoint Technologies
Global Data Center Asset Management Market: Research Scope
Global Data Center Asset Management Market, by Component
Global Data Center Asset Management Market, by Deployment
Global Data Center Asset Management Market, by Data Center Type
- Mid-size Data Center
- Enterprise Data Center
- Large Data Center
Global Data Center Asset Management Market, by Vertical
- Telecom & IT
- Media & Entertainment
Global Data Center Asset Management Market, by Region
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
- South America
- Rest of South America
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