Turkey Data Center Market to Grow at a CAGR of 5.5%, 2021-2028
Turkey Data Center market is growing at a high CAGR due the transformation of the most important industrial sectors to digital, as well as the move from on-premises models to cloud and colocation facilities. More corporations are anticipated to establish operations in Turkey due to its strong advantageous geographical region, economic position, cultural ties to the Middle East, and connections to other European nations.
A recent study conducted by the strategic consulting and market research firm, BlueWeave Consulting, revealed that the Turkey data center market was worth USD 665.3 million in the year 2021. The market is projected to grow at a CAGR of 5.5%, earning revenues of around USD 964.9 million by the end of 2028. The Turkey data center market is booming due to the transformation of the most important industrial sectors to digital, as well as the move from on-premises models to cloud and colocation facilities. More corporations are anticipated to establish operations in Turkey due to its strong advantageous geographical region, economic position, cultural ties to the Middle East, and connections to other European nations.
Expanding Digital Transformation is Driving Turkey Data Center Market
Growing demand for a data center environment with flexibility, high deployment speed, security, scalability, and data availability is driven by mobile devices, linked devices, and the IoT. This digital transition results in the creation of cutting-edge data center technology that is affordable, highly flexible, and software defined. With a shift in emphasis toward cloud computing, cloud provisioning, cloud migration, cloud-based deployment, and automation, the data center business is undergoing rapid transformation. Additionally, businesses today are dedicating resources to private, public, and hybrid cloud environments in order to take advantage of the inherent merits of the cloud, such as versatility, scalability, and easy implementation. Software-defined data centers are also driving the market for data centers due to their higher level of automation. Additionally, the market for data centers is being driven by infrastructure integration due to a rise in the demand for operational mobility, bandwidth, security, and efficiency.
In order to counteract rising energy costs and maintain compliance with laws relevant to environmental protection, many businesses are now building green and sustainable data centers. Due to the expansion of hyper-scale data centers and the development of third-platform technologies, more computing, data, and networking resources are required. This necessitates expanding the infrastructure's capacity beyond what is currently possible in today's data centers by making it more adaptable and modular. The current hardware-defined infrastructure can be replaced with a software-defined infrastructure with resource degradation, modularity, and scalability traits to accomplish this.
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BFSI Sector Held The Largest Market Share In 2021 By End User Industry
In 2021, the BFSI industry held the majority of the market share. The BFSI industry has gotten its strength from it. It offers Datacenter Facility Management (DCFM), which efficiently manages the Interdependent Electrical Network along with HVAC, UPSs, DGSETs, UPSs, Racks, etc.; IT Service Management (ITSM), which controls the IT devices and technologies, stock, service lifecycle, and monitors performance, of all assets in the DC.
Impact of COVID-19 on Turkey Data Center Market
The pandemic has severely harmed the world economy by forcing lockdowns, travel bans, and company closures in the majority of countries. The epidemic is causing substantial disruptions in all the major businesses, including a break in the supply chain, and the closure of offices and manufacturing facilities, among other things. However, the market for cloud-based services and the usage of artificial intelligence has grown significantly. Consumer attitudes and expectations of A.I. technology have improved as a result of the expanding implementation of A.I. in a variety of industries, including automotive, consumer electronics, healthcare, and education. Numerous Field Programmable Gate Arrays (FPGAs) are also being created to carry out various functions, including boosting security and quick processing for cloud server inference applications. Predictive maintenance and supply chain demand and return forecasting are other benefits of the system. Additionally, the demand for cloud-based services has grown as a result of the transition to work-from-home policies and efforts to secure a remote workforce. As a result of an increase in demand, more businesses are now using cloud computing platforms, leading to the expansion of data centers.
The key players operating in the Turkey Data Center market are Sparkle, Equinix, Telehouse Istanbul, Amazon Web Services, Turkcell, Vodafone, Turk Telekom, Teknotel Telekom, IBM Corporation, Huawei Technologies, and other prominent players.
These major players have adopted various organic and inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
The in-depth analysis of the report provides information about growth potential, upcoming trends, and statistics of the Turkey Data Center market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in the Turkey Data Center market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.
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