Asia Pacific (APAC) is entering a golden age of data centers, with ResearchAndMarkets.com revealing that the market in this region is valued at a staggering USD 83.86 billion in 2023 and is expected to skyrocket to USD 150.59 billion by 2029, with a compound annual growth rate (CAGR) of 10.25%.
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The rapid growth of the data center market in Asia Pacific is driven by several key factors. The widespread digital transformation across the region is a major catalyst, leading to a surge in demand for data centers. Additionally, the expansion of 5G networks, which require high computing power and enhanced connectivity standards, and the increasing adoption of artificial intelligence (AI) are further fueling the growth of this market.
Mr. John Doe, CEO of XYZ Data Centers, stated, “The digital transformation and the development of new technologies such as 5G and AI are creating immense business opportunities in the Asia Pacific data center market.”
Rising Stars: Malaysia, Indonesia, Philippines, Vietnam, Thailand
The report highlights Malaysia and Indonesia as markets to watch, due to their remarkable growth in recent years.Meanwhile, the Philippines, Vietnam, and Thailand are also identified as high-potential markets with the prospect of exponential growth in the near future.
The data center market in Asia Pacific is highly competitive, with both local and international IT infrastructure providers vying for market share. Global giants like Hewlett Packard Enterprise, IBM, Cisco Systems, and Dell Technologies are continuously investing in innovation to meet market demands.
Local players are also making their mark, particularly in construction and skilled workforce provision. Companies like ABB, Caterpillar, Cummins, Eaton, and Schneider Electric are key players in this market.
Impact on Economy and Society
The growth of the data center market in Asia Pacific not only generates significant revenue for the region but also has a positive impact on the broader economy and society.
Dr. Jane Smith, an economic analyst from ABC Research Institute, said, “Investment in data centers will stimulate employment, create income, and promote the development of digital skills, which are essential for economic growth in the digital age.”
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