The data center accelerators market size is anticipated to record a valuation of USD 25 billion by 2028, according to the most recent study by Global Market Insights Inc. The market growth can be attributed to the growing demand for cloud-based services.
Growing investments by technology providers will boost the data center accelerators market demand. To accelerate innovations and introduce new Application-Specific Integrated Circuit (ASIC) technologies, venture capitals are backing companies with experience & expertise in this sector. For instance, in January 2022, Vela Technologies invested around USD 0.85 million in EnSilica Ltd., a company focused on designing & suppling custom mixed-signal ASICs. An influx in working capital helps manufacturers in fast-tracking their technological development processes. In addition, the funds will aid the company in supporting its current client base while adding a new customer base from different sectors including automotive, healthcare, and industrial.
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The data center accelerators market will witness growth owing to the rising competition in the industry. With increase in usage of online services such as digital payments, streaming platforms, net banking & e-commerce platforms, the data traffic has increased over the last few years. This factor has encouraged the technology providers to launch advanced solutions in the market.
Rising focus on digital transformations across the government sector will drive the market expansion in the coming years. For instance, the Indian Ministry is emphasizing on providing all its services through digital portals to increase process speed & efficiency. This factor has encouraged the construction of new data centers in the country. In November 2021, the Tamil Nadu government signed around 60 MoUs for projects worth approximately USD 4.7 billion for the construction of data centers. The administration has confirmed deals with companies such as Larsen & Toubro Limited, STT GDC, CtrlS, Adani Enterprises, and Bharti Airtel’s Nxtra.
Increasing utilization of digital payment modes & sources in Europe will foster the data center accelerators market progression. Consumers are now relying heavily on online cloud-based platforms for completing their transactions due to their seamless usability. Government authorities are supporting the changing market conditions as they help them in managing information more proficiently. In November 2021, the European Central Bank approved a new oversight framework for electronic payments including different crypto assets and stable coins. It will assess the efficiency & security of electronic payments, direct debits, e-money transfers, credit transfers, and digital payment tokens. This factor will increase data generation across the BFSI sector, propelling the demand for data centers and high-end accelerators.
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Some major findings of the data center accelerators market report are:
- Expanding utilization of online platforms across the consumer sector will boost the industry demand for data center accelerators. With an increase in data generation, solution providers are focusing on installing high-end hardware and software to increase their processing speed.
- The increasing integration of AI-based systems in high-performance computing data centers will fuel the market value in the coming years. Operators that manage complicated data sets, optimize performance & increase efficiency are relying on implementing evolving technologies.
- Construction of new data centers across the globe for information processing will impel the market growth. Growing utilization of cloud-based services in different sectors has supported the launch of new sites, creating opportunities for the installation of advanced GPU or FPGA processors.
- Growing penetration of IoT devices and smartphones will support the data center accelerators market in IT & telecom applications. The increasing number of social media applications and video-streaming platforms has boosted data traffic, encouraging companies to install advanced HPC accelerators.
- The developing government sectors will support industry growth. Ruling administrations are emphasizing on infrastructure changes and shifting population data, such as personal details and banking & tax filings, on cloud-based platforms for process acceleration.
Table of Contents (ToC) of the report:
Chapter 3 Data Center Accelerators Market Insights
3.1 Industry segmentation
3.2 Impact of coronavirus (COVID-19) pandemic
3.2.1 Global outlook
3.2.2 Regional outlook
3.2.3 Industry value chain
3.2.3.1 Component supplier
3.2.3.2 Manufacturers
3.2.3.3 Technology providers
3.2.4 Competitive landscape
3.3 Industry ecosystem analysis
3.3.1 Raw material suppliers
3.3.2 Component suppliers
3.3.3 Manufacturers
3.3.4 Software/technology providers
3.3.5 System integrators
3.3.6 Service providers
3.3.7 Distribution network
3.3.8 Vendor matrix
3.4 Technology & innovation landscape
3.4.1 Impact of Artificial Intelligence (AI)
3.4.2 Growth of cloud-based services
3.4.3 Deep learning in big data analytics
3.4.4 Parallel computing in data centers
3.5 Regulatory landscape
3.6 Industry impact forces
3.6.1 Growth drivers
3.6.2 Industry pitfalls & challenges
3.7 Growth potential analysis
3.8 Porter’s analysis
3.9 PESTEL analysis
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