DUBLIN–(BUSINESS WIRE)–The “Nigeria Data Center Market Outlook 2021-2027” report has been added to ResearchAndMarkets.com’s offering.
Nigeria Data Center Market size is projected to grow at a CAGR of 17.9% during 2021-2027
Nigeria data center market is likely to experience a rapid growth in the forecast period on account of multiple initiative launched by the government such as National Digital Economy Policy and Strategy (2020-2030), Cloud Computing Policy (2019), National Broadband Plan (2020-2025), Smart city initiative combined with upcoming rollout of 5G technology and growing tech ecosystem in the country.
Nigeria’s tech start-ups received $701.5 million in funding in 2020, one of the highest in Africa, of which fintech start-ups accounted of 44% of the start-up investments. Number of fintech start-ups in Nigeria also grew from 74 in 2017 to 144 in 2021. Government initiatives coupled with growing tech ecosystem would create opportunities for data center market in the coming years.
Nigeria Data Center Market report thoroughly covers the market by types, verticals, and regions. The report provides an unbiased and detailed analysis of the on-going market trends, opportunities/high growth areas and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.
Nigeria Data Center Market Synopsis
Nigeria data center market witnessed decent growth in 2017-2019 owing to owing to several government initiatives such as Nigeria vision 2020 and Nigeria ICT Roadmap 2017-2020 which aimed at improving ICT infrastructure in the country along with promoting e-governance, e-commerce, digital banking, and others which significantly contributed towards the market of data center.
Social distancing norms implemented in the region due to Covid-19 pandemic in 2020 acted as a catalyst in the growth of tele healthcare, remote working, e-learning and other digital platforms, which resulted in increased data traffic. According to the data from the Nigerian Communications Commission, number of internet subscribers rose by 2.5 million in April and with similar number in May, overall internet subscriber figures went up by ~5 million. The role of data centers got widened by the surge in data traffic, data storage and processing requirements.
Market by Application Analysis
In Nigeria Data Center Market, telecom & IT vertical have led the overall market revenues accounting more than 45% of the market revenues in 2020. Telecom & IT application captured key share of the market pie, led by growing internet penetration, adoption of modern technologies and digitization initiatives taken by the government.
Key Highlights of the Report
- Nigeria Data Center Market Overview
- Nigeria Data Center Market Outlook
- Nigeria Data Center Market Forecast
- Historical Data and Forecast of Nigeria Data Center Market Revenues for the Period 2017-2027F
- Historical Data and Forecast of Revenues, By Types, Verticals, and Regions for the Period 2017-2027F
- Market Drivers and Restraints
- Nigeria Data Center Market Trends and Industry Life Cycle
- Porter’s Five Force Analysis
- Market Opportunity Assessment
- Nigeria Data Center Market Revenue Ranking, By Company
- Nigeria Data Center Market – Impact of Local Policies
- Nigeria Data Center Market – Analysis of Data Center Requirement of Tenants in Colocation Scenarios
- Nigeria Data Center Market – Analysis of User Engagement
- Nigeria Data Center Market – Existing Gap Analysis, Capacity Vs Requirement
- Competitive Benchmarking
- Company Profiles
- Key Strategic Recommendations
- 21st Century Technologies Ltd.
- Dreamlabs Nigeria Ltd.
- Excelsimo Networks Ltd.
- Galaxy Backbone Plc
- ipNX Nigeria Ltd.
- Liquid Intelligent Technologies
- Medallion Communications Inc.
- MTN Group
- Rack Centre Ltd.
Market Scope and Segmentation
- Colocation Data Center
- Cloud Data Center
- Managed Services Data Center
- Enterprise Data Center
- Telecom & IT
For more information about this report visit https://www.researchandmarkets.com/r/sojqk0
Laura Wood, Senior Press Manager
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