With rapid modernization and digitalization, enterprises are equipped with techniques that enable them to share data among different data centers. Data center interconnect facilitates the easy access and transfer of data and information across different sectors and departments, thereby, channelizing a smooth flow of data towards achievement of IT and business goals.
As per the latest report published by Market Research Future (MRFR), the global data center interconnect market will reach a valuation USD 6.5 Bn by 2023, expanding at a CAGR of 11% during the forecast period (2017-2023).
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Organizations are endeavoring to virtualize their data centers for enhanced efficiency and reducing cost. Also, data center interconnect allows the connection between data centers and cloud services for enriched experience through applications, such as, disaster recovery and business continuity. This growing inclination towards cloud infrastructure is propelling the growth of the market.
Expanding demand for disaster recovery solution, data backup, increased utilization of analyzable data, and, rapid migration to cloud-based services are some of the factors supporting the growth of the market. However, certain restraints exist such as requirement of high initial investment, which is hampering the adoption of data center interconnect.
By type, the market is segmented into service, software, and product. The service segment accounts for the maximum share of the market. By application, the market is segmented into workload & data mobility, real time disaster recovery and business continuity. By end user, the market is segmented into enterprise, CSPs, ICPs, and government.
On the basis of region, the market has been segmented into Asia Pacific, North America, Europe, and, Rest of the World. The market in APAC is expected to exhibit the highest CAGR during the forecast period. Countries such as China, India, and, Japan present significant market opportunities. The boom witnessed in research & development in the field of technology and the persistently growing demand for Data Center Interconnect Market to practice cost effective data management reflecting positively on the region’s market. Meanwhile, the North America market will continue to exhibit steady growth over the next couple of years, primarily attributable to factors such as widespread availability of next-gen technologies and increased investment from market players operating in the region.
The presence of established vendors in the market authenticates a vigorous competition. Global data center interconnect market envelopes various international brands, and new entrants to form a competitive landscape. The players in the market opt for different options and opportunities like strategic partnerships, innovation, acquisitions, etc. to gain an edge over competitors.
Some of the key players profiled in the MRFR’s report include Ciena Corporation (US), Huawei Technologies Co. Ltd. (China), Nokia Corporation (Finland), ADVA Optical Networking SE (Germany), Cisco Systems, Inc. (US), Juniper Networks, Inc. (US), Fujitsu Ltd. (Japan), Extreme Networks, Inc. (US), and Infinera Corporation (US).
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