Analysis on Impact of COVID19-Data Center Market in Southeast Asia 2020-2024 | Adoption of IoT Technologies to Boost Market Growth | Technavio
Therefore, the increase in the adoption of IoT technologies is one of the key factors driving the growth of the data center market in Southeast Asia.
The data center market in Southeast Asia is expected to grow by USD 11.63 billion during 2020-2024. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. The impact can be expected to be significant in the first quarter but gradually lessen in subsequent quarters – with a limited impact on the full-year economic growth according to the latest market research report by Technavio.
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Technavio has announced its latest market research report titled Data Center Market in Southeast Asia 2020-2024 (Graphic: Business Wire)
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The growing adoption of smart devices such as wearable healthcare devices, connected vehicles, and the use of smart appliances such as refrigerators and washing machines has increased the penetration of IoT technology. In addition, several governments in Southeast Asia are adopting IoT technologies as a part of smart nation initiatives. This has further increased the penetration of IoT across industries such as manufacturing, oil and gas, and healthcare in the region. The proliferation of IoT devices is resulting in a significant rise in the volume of data generated across industries. This is creating a strong demand for data centers to store large volumes of data and generate useful insights. Therefore, the increase in the adoption of IoT technologies is one of the key factors driving the growth of the data center market in Southeast Asia.
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As per Technavio, the development of eco-friendly data centers will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024.
Data Center Market in Southeast Asia: Development of Eco-friendly Data Centers
Many organizations operating in Southeast Asia are investing in energy-efficient data centers that have minimal impact on the environment. Eco-friendly data centers typically use low heat emission building materials and heat pumps, evaporative cooling mechanisms, and renewable energy sources. Also, several government bodies are introducing initiatives to encourage the adoption of green data centers. For instance, the Building and Construction Authority (BCA) of Singapore provides BCA-IDA Green Mark for data centers. The certification was introduced to encourage the adoption of energy-efficient data centers in the country. Therefore, the rising focus on the adoption of green data centers is expected to have a positive impact on the growth of the market during the forecast period.
“Shift toward large data center facilities and the rising demand for edge computing will further boost market growth during the forecast period”, says a senior analyst at Technavio.
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Data Center Market in Southeast Asia: Segmentation Analysis
This market research report segments the data center market in Southeast Asia by component (IT infrastructure, electrical construction, mechanical construction, general construction, and security solutions) and geographic landscape (Singapore, Indonesia, Malaysia, Thailand, and Rest of Southeast Asia).
Singapore led the data center market in Southeast Asia in 2019, followed by Indonesia, Malaysia, Thailand, and the Rest of Southeast Asia respectively. During the forecast period, Singapore is expected to register the highest incremental growth due to the increasing investments in the development of IT infrastructure in the country.
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Some of the key topics covered in the report include:
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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