Data Center Infrastructure Management (DCIM) Market: Future Demand and Growth Analysis with forecast 2024

Data center infrastructure management (DCIM) market is expected to witness a surge in demand across the globe owing to its increased emphasis on energy-efficient data centers. The growing impact of regulatory norms pertaining to data centers is also expected to accelerate the demand for DCIM solutions.

DCIM solution vendors include IT asset management providers, facility management providers, and consulting service providers, and together, they are anticipated to drive the global market at a CAGR of 21.1% during the forecast period of 2016 to 2024. The revenue of the global DCIM market stood at US$529.5 mn in 2015 and is projected to reach US$2,859.2 mn by 2024.

Based on solution, IT asset management solutions held the leading share in 2015. The combined growth of IT assets and DCIM software is expected to contribute to the growth of IT asset management solutions segment over the forecast period. The IT asset software segment is expected to account for the leading market share among all the other types of components considered. However, the segment of DCIM software is expected to expand at the highest CAGR from 2016 to 2024.

The application of DCIM solutions is greater in the IT and telecom sectors as compared to other industry verticals. However, in the coming years, the adoption of DCIM technology is expected to increase in the banking, financial services, and insurance (BFSI), healthcare, and retail sectors as well.

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“The surging usage of internet across the globe has resulted in the generation of massive amounts of data, which in turn, has driven the growth of data centers,” states the author of the study. Most data centers operate round the clock and consume significant amounts of energy for lighting, cooling, heating, and IT equipment. “Data centers today are prompted to curb energy consumption and optimize efficiency and DCIM solutions have fulfilled this very demand. This is one of the key factors fueling the data center infrastructure management market,” the analyst says.

The market is also anticipated to be driven by the rise in government regulations pertaining to carbon emissions. “Governments around the world have been paying increased attention to the alarming rise in carbon emissions and are enforcing regulations to drive companies to build and use green data centers,” the analyst comments. The DCIM market is projected to benefit from this emerging trend in the coming years.

On the down side, the lack of expertise and awareness regarding the benefits of DCIM solutions are likely to inhibit the growth of the global market. High initial investment also acts as a barrier for several small-to-medium enterprises.

The opportunity in the global DCIM market stood at US$529.5 mn in 2015 and is likely to be worth US$2,859.2 mn by 2024, registering a strong CAGR of 21.1% from 2016 to 2024. By solution, the DCIM market was led by IT asset management. This segmented generated US$253.7 mn in terms of revenue in 2015 and is expected to reach US$1,480.8 mn by 2024. The segment is also projected to emerge as the most rapidly developing solution type, registering a 22.2% CAGR during the forecast period.

On the basis of component, the IT assets were the key contributors to the DCIM market and will continue their lead through 2024. DCIM software, on the other hand, will exhibit strong growth over the course of the forecast period. The IT sector was the leading industry vertical using DCIM solutions while the healthcare sector will register remarkable growth. Geographically, North America is not only the leading segment in terms of revenue but will also emerge as the fastest expanding regional segment by the end of the forecast period.

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The global DCIM market has been geographically segmented into North America, Europe, Asia Pacific, South America, and the Middle East and Africa. North America was the leading regional market in terms of revenue in 2015, supported by the presence of a large number of DCIM solution providers and existing data centers. The U.S. is expected to be a significant contributor to the DCIM market in North America.

Europe is anticipated to maintain a consistent market share during the forecast period owing to growing awareness regarding green data centers and the subsequent demand for the same over the forecast period. The Europe DCIM market is projected to expand at a CAGR of 19.3% from 2016 to 2024. Due to the growth of the IT and service sectors, Asia Pacific is expected to remain a fairly attractive market for DCIM solutions in the coming years. Countries such as China and India are expected to witness a significant adoption of DCIM-based solutions. Countries in the MEA and South America are expected to make a comparatively lesser contribution to the DCIM market in the coming years.

Some of the key DCIM solution providers are Emerson Network Power, Inc., Schneider Electric SE, Eaton Corp. PLC, IBM Corp., CA Technologies, Inc., Siemens AG, ABB Ltd., FNT GmbH, Johnson Controls, Inc., Nlyte Software, Inc., Sunbird Software, Inc. (Raritan, Inc.), Panduit Corp., Commscope, Inc., Altron A.S., Cormant, Inc., and Rackwise, Inc.

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