No better way to kick start a new week by some enthralling news. A new report has found that the global cloud datacenter market is poised for immense growth these next five years.
The forecast claims highs of $67.5 billion by 2023.
This makes for a very impressive CAGR of around 28.7% during the forecast period, as businesses their datacenters and initiate relocations to different places. They will also be embracing emerging technologies in the process.
Technologies that enable them to build dynamic, scalable, next generation datacenters.
These new findings have been revealed by Market Research Reports, which just announced its latest study titled “Cloud Data Center Market – Global Drivers, Restraints, Opportunities, Trends, and Forecasts to 2023”.
It further reveals that there is a growing demand from North American companies, as the cloud continues to help them store data and information cost-effectively.
On the software side of things, cloud storage has carved for itself a major share of the market, and is expected to reach $22.99 billion by 2023. This, provided it grows at the forecasted CAGR rate of 27.6% during the abovementioned period.
AWS, Microsoft, IBM, Google, and Cisco Systems are listed as key players in this report that comes in at a wholesome 86 pages of length.
You can take a look at more details here.