What's Ahead for Data Processing, Hosting Industry?

Artificial intelligence (AI) may have popularized big data but applications like the internet of things (IoT) are taking it to the next level. The need to analyze large datasets to come up with insights and the increasing internet traffic is increasing the demand for data and digital storage services. The global data center market should expand by $304.87 billion between 2020 and 2024, according to a Technavio report. This puts the current global data center market size to more than $300 billion. According to Internet World Stats, in mid-2019 there were more than 4.5 billion Internet users worldwide, That's 58.8% of the global population with Internet access and the numbers are growing as internet penetration improves.