Global DCIM Market: Snapshot
At present, monumental amount of information generation from businesses riding the digitalization wave is primarily fuelling the data center infrastructure management (DCIM) market. Most data centers that operate 24x7 need to be monitored and managed by a set of protocols to optimize data center space, power consumption, and cooling for efficient operations. This is where data center infrastructure management comes into play.
The demand for mega capacity data centers or server farms to store massive volume of data amounts to considerable carbon emissions that have come under the scrutiny of environmental agencies. As per the National Resources Defense Council, electrical energy consumption by data centers in the U.S. is likely to amount to 139 billion kilo-watt hours by 2020. This has led governments to enforce regulations to build green data centers. However, high cost involved in transforming existing data centers into energy efficient ones is preventing data center owners from remodeling their spaces. Nevertheless, the economic advantage of data center infrastructure management for businesses is poised for the data center infrastructure management market to expand at an outstanding 21.5% CAGR between 2017 and 2024.
IT Asset Management Solution to Register Leading CAGR through 2024
The global DCIM market is segmented in terms of solution, component, industry vertical, and geography. Depending upon solution, facility management, IT asset management, and consulting and other services are the segments into which the DCIM market is divided. Among them, IT asset management is anticipated to hold the leading market share through 2024; the segment is anticipated to register the leading CAGR between 2017 and 2024. Facility management segment is anticipated to hold second-leading market share owing to its utility in power management and cooling applications.
On the other hand, consulting and other services segment is comparatively less attractive due to its low revenue contribution to the overall market. The segment comprises hardware sensor, consulting and other smaller solutions.
Massive Volume of Data Generation Makes IT, Telecom Industry Verticals Significant
In terms of component, DCIM software, IT asset, power, cooling, and others are the segments into which the DCIM market is segregated. IT asset and DCIM software are the leading contributors to the DCIM market. Of the two, the IT asset segment is anticipated to hold the leading 37.6% share of the overall market by 2024. However, DCIM software segment is anticipated to display considerable growth owing to its increasing importance in overall monitoring, planning, and analytics. DCIM software also helps to serve integration of different components as required by data center operators to track space, power consumption, and cooling.
By industry vertical, the key segments of the DCIM market are BFSI, telecom, retail. IT, healthcare, and others. IT and telecom are key segments of the DCIM market due to high demand for data storage. IT and telecom enterprises opt for DCIM solutions to reduce their operational cost. With rising adoption of cloud computing solutions among IT and telecom enterprises, the DCIM market is likely to receive a boost.
The IT segment is anticipated to hold considerable market share through 2024; the segment is anticipated to account for leading revenue contribution through the forecast period.
Geography-wise, North America, Europe, Asia Pacific, Middle East & Africa, and South America are the key regions for DCIM. North America and Europe are anticipated to remain the most lucrative markets for DCIM through 2024.
Key companies operating in the global DCIM market include Emerson Network Power Inc., Johnson Controls Inc., Eaton Corp. plc, Nlyte Software Inc., CA Technologies Inc., Panduit Corp., FNT GmbH, Schneider Electric SE, and Commscope Inc.
Global DCIM Market: Overview
The data center infrastructure management (DCIM) report provides an in-depth analysis of the global DCIM market for the 2017-2024 forecast period, wherein 2016 is the base year. Data for 2011-2015 has been included for historical information. The analysis of the DCIM market presented in the report can be leveraged by market stakeholders to formulate business strategies.
The objective of this study is to understand the factors aiding the growth of DCIM market. The study also intends to understand the competitive scenario in the DCIM market, since the current business landscape is fragmented with multiple solution providers.
Global DCIM Market: Report Highlights
The research report provides a comprehensive analysis of the global DCIM market based on solution, component, industry vertical, and geography. The report provides valuable insights into vital market dynamics that have a bearing on the growth of this market. It discusses prevailing market trends, future growth opportunities, and competitive strategies that market stakeholders would be interested in. Also provided in the report is market share of key players in the DCIM market.
The market study looks into vital indicators such as demand drivers, challenges, and opportunities that are anticipated to influence the growth of this market between 201 and 2024. Growth trends and technological advances are other aspects that have been analyzed to assess the growth of DCIM market in the upcoming years.
The report answers some vital questions for a know-how of growth of the DCIM market over the 2017-2024 forecast timeframe. Analysis of key factors driving market growth, revenue share of an array of DCIM solutions, various trends impacting the market and key market opportunities, competitive strategies of key players operating in the market, and market share of key players offering DCIM solutions are some of the key highlights of this report.
Global DCIM Market: Research Methodology
The report is a result of an extensive primary and secondary research phase. Top-down approach has been employed to estimate growth behavior of each segment. Bottom-up approach has been used to estimate market share and revenue estimates of key segments under different category. Economic upheavals, political disturbances, and climatic calamities that can have an impact on businesses across industry verticals have not been considered in the making of this report. Strategic alliances, collaborations, and partnerships between industry players have been duly considered in the making of the report. Trade dynamics such as import-export scenario and demand-supply gap across key geographical regions for DCIM have been thoroughly analyzed in the making of the report.
Global DCIM Market: Competitive Dashboard
The DCIM market report comprises a section dedicated to the competitive outlook. Key players operating in the DCIM market are identified and are profiled for their distinguishing business attributes. Technological advances, product portfolio, financial standing, and competitive outlook are some of the parameters key players are profiled in this report. Insights into key players’ indices of strengths, weakness, opportunities, and threats over the forecast period is a highlight of the report. The report concludes with insights into key players’ winning strategies that new players can leverage to gauge market attractiveness.