Data centre networking combines many networking resources such as switching, load balancing, routing, and analytics to make data and application storage and processing easier. Data centre networking can handle high-bandwidth data transport to and from storage endpoints, switches, and servers, allowing huge amounts of data to be moved quickly.
The growing use of digitalization in a variety of industrial processes is driving up demand for cloud services to help businesses run more efficiently. In the coming years, as network connections spread across a broad geographical and virtual space, demand for quicker processing, accessible design, and management solutions will grow. As a result of these considerations, cloud solutions are becoming increasingly important for managing the efficient operation and connectivity of IT equipment.
The growing popularity of technologies like artificial intelligence, machine learning, and 5G will enhance the cloud computing market, which will drive the demand for high-performance data centre networking solutions. During the projection period, the introduction of compute-intensive technologies such as deep learning and IoT will promote market growth.
Due to rigorous lockdowns enacted in numerous countries, the coronavirus pandemic impeded the data centre networking market expansion in 2020. In 2020, the global economy is expected to decline by roughly 3%. Because of the rigorous lockdowns imposed, data centre development projects were put on hold in 2020, causing the industry to temporarily decrease. The disruptions in supply networks caused delays in the purchase of raw materials and electrical components. However, the market will expand in 2021, owing to the relaxation of lockdowns and the rising demand for data traffic management across a variety of industry verticals.
Through 2027, hardware solutions in China's data centre networking market are expected to rise at an annual pace of 18 percent. China exports electrical components and goods to a number of countries throughout the world. Servers, which offer processing power for computing tasks and store vital data, are essential components of an efficient data centre networking design. Traditional on-premises physical servers have given way to virtual networks that host applications in a multi-cloud environment.
The strong electronics and cloud computing markets in China will boost R&D for high-performance servers that meet modern data centre networking needs. The data centre server industry's expansion will be aided by the easy availability of raw materials required for server manufacture, as well as strong in-house electronic component manufacturing capabilities.
Colocation applications will grow at a 14 percent CAGR in the United States by 2027. The increase in the number of SMEs in the country has boosted demand for data centre colocation in the coming years. Businesses with limited budgets are turning to colocation services to meet their data management needs rather than investing in their own data centre infrastructure. The region's thriving manufacturing industry, which is embracing advanced digital technologies like IoT and AI, has boosted demand for colocation services. To ensure high-quality data processing, colocation providers focus on implementing resilient data centre networking infrastructures.
In 2019, the data centre networking market in Europe accounted for more than 30% of total revenue. Due to the region's powerful manufacturing industry's acceptance of modern technologies such as AI and IoT, the regional market will continue to rise steadily. Big data analytics is used in manufacturing, distribution, and delivery systems. Because of the tremendous data traffic generated by these compute-intensive technologies, data centre networking solutions that provide real-time data processing are in high demand. In the United Kingdom and Germany, analytics technology is altering the healthcare, financial services, and automobile industries.
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