Market Trends of Guangdong Data Center Industry
Large data center facilities are anticipated to witness growth during the forecast period.
- The country had 25 large data center facilities, with a combined IT load capacity of 140.5 MW as of 2022. In addition, new large-scale data center facilities are under construction in the Tianjin and Hebei regions, with a projected capacity of 350 MW by 2029.
- Predominantly concentrated in the Shanghai region, which holds a market share of 36%, These data center facilities are growing in the Guangdong region and with a market share of 24% in the entire country.
- However, the data center market in the city is still dominated by mega and massive data centers., The country has 12 mega data centers, and Guangdong has two of these facilities. Of all the data center facilities, S Guangdong hosts t20.2% of Tier 3 data centers in the country.
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BFSI segment to grow at a noteworthy pace.
- The digital ecosystem surrounding a bank is exploding at a rapid pace. With the continuous change in consumer demands, banks have been pressured to customize their product offerings according to their demands. Secondly, as consumers embrace a mobile lifestyle and socialize on digital platforms, they expect banks to connect with them on the same platforms.
- The banking and financial services (BFSI) industry has been one of the most influenced industries by the digital transformation of businesses enabling cost-effective earnings. The increased penetration of cell phones and high-speed internet across the city has encouraged people to opt for digital banking, which has also led toward the integration of powerful CRM and cloud tools to store and analyze data, which is expected to augment market growth.
- The hybrid cloud is expected to command significant demand due to the sensitive nature of data handled by the BFSI enterprises.
- Banks are seeking to transform their product offerings, channels, and customer services to reflect the changing demands of consumers. Banks must integrate business processes with advanced analytical capabilities, continuously refining processes, services, and products in real time. Thus, banks increasingly rely on the cloud's power to achieve their objectives and manage the current market challenges.
