Market Trends of Russia Data Center Rack Industry
BFSI Sector Expected to Hold a Significant Share
- Cloud and data centers are the backbone of the BFSI sector, especially in the process of digitization. Competition in the banking and financial sector and increasing demand for online services are expanding the market for data centers, thus increasing the use of data center racks.
- The racks used in the banking sector require additional protection against theft, damage, and other risks. Rack provides banking service providers with a platform to host their systems and protect them from unforeseen physical risks. These racks are modular, so banking service providers can upgrade them as needed.
- The Bank of Russia has approved guidelines for financial technology development from 2018-2020. The Bank of Russia is committed to promoting financial inclusion, improving the quality and diversity of financial services, ensuring safety and stability in the application of financial technologies, and improving the competitiveness of Russian technologies such as big data, artificial intelligence, and machines.
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Full Rack Segment to Hold Major Share in the Market
- Due to the growing shortage of space in various companies, the data center full rack market occupies a large share in Russia. The demand for complete rack data center infrastructure is increasing to cope with the increasing rack size due to the rapid growth of mobile broadband networks due to the increase in big data analytics combined with cloud computing.
- By 2022, 2G mobile networks covered almost 99% of the Russian population, up from 91% two years ago. By 2022, nearly 89% of the population was to be covered by 3G and 4G networks. The increasing use of data demonstrates more use of data and, thus, increasing use of full rack data centers.
- With large amounts of data generated every day, businesses rely on data centers to efficiently manage data and storage. Therefore, the increasing use of full-rack data centers is the most important factor positively influencing data center rack consumption. Increasing demand for technology services and investments by large companies are also changing the growth of the market.
- Initially, the focus was solely on data center rack infrastructure, with only size and cost considered during deployment. However, the introduction of high-density applications by various end-users, such as online banking, IT and telecommunications, media, and entertainment, creates opportunities for increased usage of full racks of data centers.
