Data Center - Greece

  • Greece
  • Revenue in the Data Center market is projected to reach US$1,037.00m in 2024.
  • Network Infrastructure dominates the market with a projected market volume of US$853.80m in 2024.
  • Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 4.53%, resulting in a market volume of US$1,294.00m by 2029.
  • In global comparison, most revenue will be generated in the United States (US$123.20bn in 2024).

Key regions: United States, Germany, India, Japan, China

 
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Analyst Opinion

The Data Center market in Greece is experiencing slow growth due to various factors such as limited investments in digital infrastructure, low IT spending by businesses, and a small market size. However, the increasing adoption of cloud computing and the government's initiatives to promote digitalization could drive growth in the long term.

Customer preferences:
The Greek data center market is witnessing a growing demand for eco-friendly and energy-efficient solutions, driven by the country's commitment to reducing carbon emissions. In addition, there is a rising demand for cloud-based services, as businesses in Greece are increasingly adopting digitalization and remote working models. This shift is further fueled by the surge in online shopping and e-commerce, leading to a need for robust and secure data storage and processing capabilities.

Trends in the market:
In Greece, the Data Center Market is experiencing a surge in demand for cloud-based services, as businesses increasingly rely on digital solutions for their operations. This trend is expected to continue in the coming years, as more companies adopt remote work and digital transformation strategies. This shift towards cloud-based services is significant for the industry, as it offers cost-effective and scalable solutions for businesses. However, it also poses challenges for data center providers in terms of ensuring reliable connectivity and security measures. To keep up with this trend, industry stakeholders must invest in upgrading their infrastructure and implementing robust data security protocols.

Local special circumstances:
In Greece, the Data Center Market is influenced by the country's geographical location as a gateway between Europe, Asia, and Africa. This strategic position has attracted multinational companies to establish data centers in Greece, providing a competitive edge in the region. Furthermore, the culture of innovation and entrepreneurship in Greece has fostered a thriving tech industry, driving demand for data center solutions. Additionally, the government's initiatives to attract foreign investments and improve the country's digital infrastructure have created a favorable environment for the growth of the data center market in Greece.

Underlying macroeconomic factors:
The Data Center Market in Greece is heavily impacted by macroeconomic factors such as economic stability, government policies, and investment in technology infrastructure. As a member of the European Union, Greece's economy is influenced by the broader economic trends and policies of the EU. The government's efforts to modernize and digitize the country's infrastructure, coupled with investments in emerging technologies, have created a favorable environment for the growth of the data center market. Additionally, the increasing demand for data storage and processing, driven by the rise of digitalization and the adoption of cloud computing, has also contributed to the growth of the market in Greece. These factors make Greece an attractive market for data center investments and suggest a positive outlook for its future growth.

Methodology

Data coverage:

The data encompasses B2B enterprises. Figures are based on hardware-related expenses of businesses for setting up and maintaining an IT infrastructure.

Modeling approach / Market size:

Market sizes are determined through a top-down approach, building on a specific rationale for each market segment. As a basis for evaluating markets, we use annual financial reports and national statistical offices. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP and level of digitization. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques, such as exponential trend smoothing and the S-curve function, is based on the behavior of the relevant market.

Additional notes:

The data is modeled using current exchange rates. The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic and the Russia-Ukraine war is considered at a country-specific level.

Overview

  • Revenue
  • Key Players
  • Analyst Opinion
  • Global Comparison
  • Methodology
  • Key Market Indicators
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