Data Center Asset Management Market Set to Garner Staggering Revenues Owing to Rising Demand For Green IT and Sustainability Till 2023 | Million Insights

FELTON, California, June 19, 2019 /PRNewswire/ -- Global data center asset management market is anticipated to witness an exponential growth in the forecast period. Factors such as efficient and improved capacity of the data center for management of energy efficiency, cloud service providers, planning, manageability, and growing number of collocations, surge in the number of data centers across the globe, technological advancement, increase in demand for green IT and sustainability, rising disposable income, are likely to drive the market in the forthcoming period.

On the other hand, technical propagation along with dynamic nature of business, lack of capacity and detailed knowledge, and unbalanced economic condition and regulatory issues are anticipated to hinder data center asset management market growth in future. However, it saves the time required and operational spending, is likely to create lucrative opportunities for the market.

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Globally, market is anticipated to expand at a significant CAGR in the upcoming period as the scope, product types, and its applications are increasing across the globe. Data center asset management market could be explored by component type, deployment type, data center type, service type, vertical type, and geography. Market could be explored by component type as Hardware, Software, and Services.

Based on deployment type, the market could span Cloud and On-Premise. The market could be explored based on data center type as Enterprise data center, Mid-size data center and Large data center. Based on service type, the data center asset management market constitutes Installation & support, Consulting and Professional.

The market could be explored based on vertical type as BFSI, Government, Telecom and IT, Healthcare, Energy, Media and entertainment, Manufacturing and Others. The "IT and Telecom" segment accounted for a prominent share in the market. It is likely to witness substantial growth in the years to come. The key factors that could be attributed to the growth of the market include increasing demand for better energy efficiency in data centers and boosting the acceptance of green data centers and favorable rules.