Cracking the Code: South Korea's Digital Locks Market growing rapidly - Who are the Key Growth Drivers? : Ken Research

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From smart homes to commercial establishments, digital locks have become an integral part of South Korea's security landscape. With a strong emphasis on enhanced security, South Korea has implemented various policies and strategies to promote the widespread adoption of digital locks. These measures ensure a seamless transition towards advanced security solutions and drive the market's growth. To delve deeper into the growth enablers propelling this dynamic industry, read on. Discover the key factors behind South Korea's success in embracing digital locks and revolutionizing security practices.

1. China, Japan, and South Korea are the countries with the highest revenue whereas Japan, Thailand, and Malaysia are the countries with the highest growth rate in the Security Devices Market

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2. South Korea is the 3rd largest exporter of digital locks in the world and is backed by several government policies and strategies that ensure the use of Digital Locks for enhanced security

3. South Korean Digital Lock manufacturers are putting emphasis on sustainability, product aesthetics, using advanced technologies, providing customization, and even expanding to new markets

4. Increasing Adoption of Digital Locks for Commercial Use, Biometric recognition for enhanced security, and Integration with smart homes devices are the major trends in the Digital Locks Market in South Korea

5. Government initiatives in terms of promoting smart home technology, growing tourism because of Korean pop culture, and growing e-commerce industry in South Korea is driving the market of digital locks

Some of the Intelligence Curated by Ken Research in Digital Locks Market Space:

• China Cyber Security Market Outlook to 2027F Segmented by Component (Hardware, Software and Services), By Security (Network, Endpoint, Application and Cloud Security), By Deployment Type (On-Premise and Cloud), By Organization Size (Medium, Small and Large Enterprise) and by Industry (BFSI, Government Sector, IT, Telecom, E-Commerce, Healthcare and Retail)
• Australia Cyber Security Market Outlook to 2027F Segmented by Component (Hardware, Software and Services), By Security (Network, Endpoint, Application and Cloud Security), By Deployment Type (On-Premise and Cloud), By Organization Size (Medium, Small and Large Enterprise) and by Industry
• Indonesia Cyber Security Market Outlook to 2027F Segmented by Component (Hardware, Software and Services), By Security (Network, Endpoint, Application and Cloud Security), By Deployment Type (On-Premise and Cloud), By Organization Size (Medium, Small and Large Enterprise) and by Industry
• Global Door Entry Systems Market Size, Segments, Outlook, and Revenue Forecast 2022-2028 by Product (Card-Based, Video/Audio Systems, Biometric Systems), Application (Residential, Commercial), and Region (North America, Europe, Asia Pacific, Latin America Middle East and Africa (LAMEA))
• KSA Cybersecurity Market Outlook to 2026E- Gauging the opportunities for foreign investment in the cybersecurity market

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 South Korea Digital Locks Market

Karnataka Bricks & Blocks Market has been driven by rapid industrialization and urbanization, government support and technological advancement: Ken Research

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Focus on escalating construction activities, growing emphasis on green buildings and government support are major factor contributing towards development of Bricks and Blocks Market in Karnataka

Entry of AAC Manufacturers and Rapid Urbanization: AAC Blocks market have been witnessing entry of multiple manufacturing players in the last 3-4 years as the government has taken initiative to use AAC Blocks to reduce environmental impacts and improve energy efficient materials in brick manufacturing process. On the other hand, construction activity is rising as a result of rapid urbanization, with the current population of 66.2 Mn which is projected to grow to 74.2 Mn by FY 2027 pressurizing the cities for development and improving the infrastructure of the state for better quality of life.

High-rise Residential Building Demand and Government Support: The demand for high-rise structures is the present trend; ~1,500 high-rise structures have been built in Bengaluru, and more are being built there right now, including Adarsh Tropica, Engrace, and others. Additionally, the Karnataka government has ordered operators of thermal power plants to give fly ash to brick producers at no charge. To encourage manufacturers' interest in creating fly ash bricks, numerous incentives are being offered to reduce carbon emissions.

Technological Obsolescence: Since its inception, the brick industry in Karnataka has relied on conventional techniques for producing bricks and has not undergone a significant technological development. Due to a lack of technical know-how and government funding, manual brickmaking is primarily used. Additionally, small to mid-scale players are hesitant to adopt modern technology because doing so takes significant investment, and they prefer labor-intensive processes over switching to completely automated ones.

Environmental Constraints: The Karnataka brick industry is currently based on decentralized production activity using energy intensive, resource depleting and highly polluting technologies and production methods. The industry faces considerable constraints leading to depletion of natural resources.

Analysts at Ken Research in their latest publication “Karnataka Bricks & Blocks Market Outlook to 2027- Driven by Rising Urbanization and Escalating Construction Activities to Develop the Existing Infrastructure” observed that bricks and blocks market in Karnataka is at growing stage. The formulation of supportive government policies and rapid urbanization, technological advancement and growing emphasis on green buildings are expected to contribute to the market growth over the forecast period. The market is expected to grow at a 7.4% CAGR during 2022-2027.

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Major Players Mentioned in the Report

• Birla Aerocon (CK Birla Group)
• Durgamba Building Solutions Co.
• Ultratech AAC Blocks
• Neolite Buildcon
• Sri Balaji Enterprises
• Fusion Building Materials
• Renaatus Procon Pvt. Ltd.
• Aswani Industries Pvt. Ltd. (Ascolite AAC)
• Masuvic Indsup Pvt. Ltd. (Nexrise AAC)
• Conecc Industries Pvt. Ltd.
• Falcon (Building Solutions)
• Arugonda Infratech
• VP Enterprises
• Maxlite AAC Blocks
• Meghalite AAC Blocks

Key Target Audience – Organizations and Entities Who Can Benefit by Subscribing This Report

• Infrastructure Industry Investors
• Green Building Material Market
• Future Prospect of India AAC Blocks
• AAC Blocks Manufacturers in India
• AAC Block Association of India
• Fly Ash Association of India
• India Construction Material Market
• High Rise AAC Block Building
• Fly Ash Bricks Manufacturers
• Clay Brick Kilns in India
• Hollow Block Market in India
• Investment Model for AAC Block Plant

Time Period Captured in the Report

• Historical Period: 2017-2022
• Base Year: 2022
• Forecast Period: 2022-2027

For more insights on the market intelligence, refer to the link below: -

Karnataka Bricks & Blocks Market

Related Report By Ken Research:-

India Bricks and Blocks Market Outlook to 2024

Nigeria data center market is in the growing stage, driven by internet penetration and launch of 5G network: Ken Research

 COVID-19 accelerated data consumption, resulting in increased demand for bandwidth and storage capacity. The focus has shifted from large mainframe computers occupying more real estate to complex DCs with energy efficiency, cooling technology and facilities management.

Launch of 5G & electricity generation: The country is Africa's largest ICT market, accounting for nearly ~30% of internet usage. Commercial 5G was rolled out in the country by MTN Nigeria in September 2022, further contributing to internet penetration in the country. Currently, 80% of the electricity generated in Nigeria is generated by natural gas, while much of the rest is generated by coal. Nigeria is currently the largest user of oil-fueled backup gensets in Africa.

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Technological Advancements: The country's technological prowess was abysmally low few year back. However, new tech innovations have been happening in Nigeria which thereby accelerate demand for data center companies in Nigeria. The Information, Communication and Technology Sector has been currently one of the fastest growing sectors in Nigeria. Despite the COVID-19 pandemic, the sector contributed nearly ~15% of his country's gross domestic product (GDP).

Covid-19 Impact: Covid-19 had positive influence in Nigeria data center market. It acted as a catalyst for growth of data related /digital fields like remote working, remote learning, e- commerce, digital payments, healthcare etc. There was a major increase in data traffic thus leading to a consequent increase in demand for racks and data centers.

Analysts at Ken Research in their latest publication “Nigeria Data Center Market Outlook to 2027 - Driven by launch of 5G, internet penetration, increase in investment and government initiatives.” observed that the Nigeria data center market is expected to showcase considerable growth in the coming five years. In the upcoming years, it is predicted to expand more rapidly due to increased internet penetration and the launch of 5G. The Nigeria Data Center Market is expected to grow at robust CAGR over the forecasted period 2022-2027.

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Key Segments Covered in the report

Nigeria Data Center Market

By Vertical

• Hyper Scale DC
• Co-location DC
• Managed DC

By Type of Co-location

• Wholesale Co-location
• Retail Co-location

By End User

• Telecom and IT
• BFSI
• Government
• E-Commerce
• Others

Key Target Audience

• Data Center companies
• Cloud providers (Domestic and Global)
• Managed data center companies
• Co-location data center companies
• Private Equity and Venture Capitalist
• Industry Associations
• Data Center Constructors
• Technology providers

Time Period Captured in the Report:

• Historical Period: 2017-2022
• Base Year: 2022
• Forecast Period: 2022-2027

For More Insights On Market Intelligence, Refer To The Link Below: –

Nigeria Data Centre Market Outlook to 2027

Related Reports By Ken Research: –

US Data Center Market Outlook to 2027
Africa Data Center & Cloud Services Market Outlook to 2027
Thailand Data Center and Cloud Services Market Outlook to 2027

The Global Hair Serum Market is poised to become a USD 1500 Mn Market by 2027. Will the projections justify growth? : Ken Research

 The market will be growing at the rate of 7% owing to fast fashion trends, increasing cases of hair loss & demand for organic hair care products, says a report by Ken Research

Global Hair Serum Market Ecosystem

The Global Hair Serum Market is highly fragmented in nature, with the presence of many international players as well as local players. Some of the major players in the industry, L’Oreal, Proctor & Gamble, Unilever are amongst others.

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1. “Hair loss being a growth factor?”: With rising cases of hairloss problems, companies are now realizing the huge potential it holds for the hair care market.

The rising application of hair serum in hair loss treatment and hair damage repairing is driving the market as consumers are becoming conscious about hair health and prefer advanced hair care products such as serums. Further, modern consumers are increasingly preferring organic products featuring herbal or natural ingredients like argan oil, onion, tea tree, Aloe Vera, and green tea, among others. As a result, the market is witnessing high penetration of herbal hair serum brands across key geographical markets that facilitate retail sales expansion in the worldwide market. For instance, in September 2022, Herbal Farm, a Singapore-based nutraceutical brand announced the business expansion into the personal care segment with the launch of a new hair care range featuring serum, shampoo, and conditioners.

2. "Fast Fashion providing a boost:” With an increasing trend towards hair coloring & frequent hairstyle changes, hair serums have become a need rather than a want.

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 Hair serums are widely used in hair styling to rejuvenate hair texture after hair coloring. With the rising popularity of hair coloring among millennial consumers, the demand for hair styling serum has been increasing across emerging economies along with developed countries. In hair styling, the serum is primarily used to enhance the hair curls and straightness while hair straightening or smoothing treatment. In addition, hair styling serums tend to reduce fizziness, improve detangling and impart shiny texture which is often lost due to bleaching and hair coloring.

Market Taxomony:-

Global Hair Serum Market Segmentation

By Type of Product

• Hair treatment Serum
• Hair Styling Serum

By Gender

• Men
• Women

By Nature

• Organic
• Conventional

By Distribution Channel

• Online
• Offline

By Geography

• Asia Pacific
• Middle East
• North America
• Australia
• South America
• Europe

Key Target Audience:

• Females
• Millennials
• Younger Generation
• Individuals with Sensitive Skin

Time Period Captured in the Report:

• Historical Period:2017- 2022
• Base Year: 2022
• Forecast Period: 2022-2027

Companies Covered:

• L’Oreal Paris
• Revlon
• Elizabeth Arden
• Unilever Plc.
• Proctor & Gamble
• Pattern
• John Paul Mitchell Systems
• Henkel
• Veolia

For more insights on market intelligence, refer to the link below: –

Global Hair Serum Market Outlook to 2027

UAE Debt Collection Market is in the Growing Stage, Driven by Changing IT Policies and Documentation and Rise in Awareness Due to the COVID-19 Pandemic among the Population: Ken Research

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The Collection Industry in UAE peaked right before and during the pandemic. Increased amount of lending along with rising defaults presents great opportunities for debt collection.

Covid Led Growth: COVID-19 pandemic bough certain challenges for debt collection agencies in terms of worsening the financial situation of debtors leading them to refuse paying their debts. However, it made the public more aware about the existence of debt collection services which motivated them to fulfil their debt obligations. Pandemic also increased the number of default accounts bringing more business for collection agencies and inducing growth.

Rise in Digital Collections: Debt Collection companies used to rely on phone-calls to make recoveries which led to terrible customer experience and wastage of time. Digital collections are being extensively used which leverages analytics to make the process more efficient and act as catalysts for the industry.

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Growing focus on Regulatory Compliance: Debt Collection companies have started to place more focus on complying with all regulations for a better customer service. They are maintaining proper documents, getting cheques as proof for future payment and amending the penalty terms.

Changes in UAE Legal System: The new legal system at UAE makes it possible to recover debts via court in merely within 7 days if all the documents are readily available. The new Bankruptcy law also provided safety for debtors and changed the shape of debt collection industry.

Analysts at Ken Research in their latest publication- “UAE Debt Collection Market Outlook to 2027- Characterized by fierce competition and high growth prospects” by Ken Research provides a comprehensive analysis of the potential of the debt collection market in UAE. Rise in digital collection techniques and increasing use of AI and ML for recovery predictions are expected to contribute to the market growth over the forecast period.

UAE debt collection market is expected to grow at a robust CAGR over the forecasted period 2022-2027.

Key Segments Covered

Segmentation by Segment

• Non-Finance
• Finance
• Insurance

Segmentation by Type of Firm

• Debt Collection Agency
• Law Firm

Segmentation by Age of Firm:

• 0 to 10 yrs
• 10 to 20 yrs
• 20 to 30 yrs

Segmentation by Geographical Presence

• Abu Dhabi
• Dubai
• Fujairah
• Sharjah
• Ajman
• Umm Al-Quwain
• Ras Al-Khaimah

Sub-segmentation of insurance segment & financing segment

Sub-segmentation of insurance segment:

• Motor & Transportation
• Property/Fire
• Liability & Others

Sub-segmentation of financing segment:

• Real State
• Personal
• Financial institution
• Services
• Manufacturing
• Trade
• Others

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Key Target Audience

• Existing Debt Collection Companies
• Law Firms
• Financing Companies
• Non-Financing Companies
• Insurance Companies
• Debt Collection & Management software providers
• Government Agencies
• Finance Consultants
• Others

Time Period Captured in the Report:

• Historical Period: 2017-2022
• Base Year: 2022
• Forecast Period: 2022–2027

Companies Covered:

SUPPLY SIDE:

Debt Collection Companies

• Tahseel
• CMS
• Aman Debt Collection
• First Solution
• Credit Recovery
• AW Holding
• Bilkish
• Derby Group of Companies
• Alpha Debt Collection
• Fort Equity
• Quick Action
• ATDC
• com
• ALQADA

Law firms/Debt Collection

• Taswiyeh
• ASKTHELAW
• HHS LAWYERS
• DUBAI DEBT RECOVERY
• STA
• AE
• AL ROWAAD
• AL SAFAR
• BIN EID

Regulatory Bodies and Judiciary

• Central Bank of the UAE
• Judicial Department

DEMAND SIDE:

Insurance companies

• Etihad Credit Insuranc
• Atradiuse
• CIGNA
• COFACE
• PACIFIC PRIME
• MetLIFE
• ACE
• Emirates RE

Financing companies

• Emirates NBD
• ADCB
• DUBAI FIRST
• Mashreq
• Commercial Bank of Dubai
• Dubai Islamic Bank
• HSBC
• RAKBANK
• ADIB
• FAB
• CITYBANK

Non-Finance companies

• Etisalat
• Emircom
• Etihad Water and Electricity
• Abu Dhabi Distribution Companies
• Emaar
• Nakheel
• Lufthansa
• Choithrams
• Asian Paints
• Majid UL Futaim
• Naseej

Key Topics Covered in the Report                            

• Global Debt Collection Market Overview
• Ecosystem of UAE Debt Collection Market – Demand and Supply Side
• Value Chain Analysis – Amicable Settlement and Litigation Settlement
• Market Size and Segmentation of Debt Collection Industry in UAE, 2017-2022
• UAE Debt Collection Market Industry Analysis
• Software used in UAE Debt Collection Market
• Market Shares of Major Debt Collection Companies in UAE on the basis of Debt Collected, 2022
• Competitive Analysis
• Future Outlook and Projections, 2022-2027

For More Insights On Market Intelligence, Refer to the Link Below: –

UAE Debt Collection Market Outlook to 2027

Related Reports by Ken Research

KSA Debt Collection Market Outlook to FY'2026

Philippines Auto Finance Market Is Expected To Reach Over PHP 1,100 Bn By 2027. Will The Philippines Auto Finance Market Stand On This Expected Figure? : Ken Research

 All major banks in the Philippines finance all passenger vehicles to cater to the diverse needs of borrowers and to remain competitive in the market. The Market is moderately fragmented. BDO, PNB, RCBC, Maybank and Metrobank can be positioned as leaders in Philippines Auto Finance Market owing to their large customer base, demand for auto loans and higher digital penetration.

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1. Online Auto Finance Aggregator Platforms are emerging in the country to simplify the auto loan acquisition process in Philippines.

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New Aggregator platforms are ­direct-to-consumer channels that allow buyers to obtain loans online and get them approved before going to the dealers.

These platforms collaborate with Banks, Captives, NBFCs, Fintech lenders and other peer-to-peer lending platforms to provide multiple financing options.

Services range from personalized ­interest rates and variable terms, shared leasing and car subscriptions.

This leads to more transparent and streamlined car-buying process that eliminates obstacles such as asymmetric information and delays in credit approvals.

2. Financial Institutes can further improve on its performance by targeting the used vehicle market and focusing on Electric Vehicles.

Flexible Payment Plan

Flexible payment plan adoption makes auto loans segment more consumer friendly & affordable and is a promotional technique used by other banks & captive to attract customers.

Promotional offers for Electric Vehicles

An annual growth rate of 8-12% is expected that will produce P1.68 B revenue from services and sales of 200,000 units by 2024.

Strong dealership connection:

Incentivize dealers with the number of leads they generate with position and commission.

For more insights on market intelligence, refer to the link below: –

Philippines Auto Finance Market

Exploring New Trade and Development Avenues: India's Construction Chemical Market Ventures into Emerging Regions and Domains: Ken Research

 1. India's Construction Chemicals Market: Emerging Powerhouse in Southeast Asia Driven by Growth, M&A, and Government Aid.

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With a rich legacy dating back to 1892, when Bengal Chemicals and Pharmaceutical Works was established, the Indian chemical industry has experienced impressive progress. Initially dominated by organized players like Pidilite, MBCC, Sika, and Fosroc, the market has now opened up to new possibilities.

Investments in commercial and residential infrastructure, along with government collaborations, are driving the growth of the India construction chemicals market. Mergers and acquisitions have been instrumental in securing a competitive advantage across industry segments.

The sector is witnessing the entry of prominent companies such as Nippon Paint and JSW Cement, signaling the market's potential. Embracing sustainability, manufacturers are prioritizing technical products that reduce carbon footprint, challenging traditional concrete and cementitious chemicals.

India's construction chemicals Industry continues to evolve, propelled by its legacy, growth opportunities, and commitment to innovation.

2. Dynamic Ecosystem and Collaborative Efforts Drive India's Construction Chemicals Market with 200+ Players and Industry Bodies.

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The Indian construction chemicals market is marked by the presence of approximately 200 players, comprising both international and domestic companies. These players bring a diverse range of expertise and offerings to the market. Some international companies have established manufacturing units within the country or import raw materials and finished products from other countries. The concentration of major head offices in Mumbai, Thane, and Pune is attributed to the strategic proximity to the JNPT port, which plays a crucial role in facilitating imports for the industry. The dependence on imports underscores the significance of these locations as key hubs for the construction chemicals sector in India.

Global Electric Motor Market Size Worth USD 160 Bn by 2027. Will Global Electric Motor Market stand on this projected figure? Ken Research

The electric motor market is moderately fragmented. Some of the major companies are ABB Ltd. AMETEK Inc., Johnson Electric Holdings Limited, Siemens AG, Rockwell Automation, Toshiba Corp., Hitachi Ltd, and Toshiba Corp.

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1. Rising demand for energy-efficient systems:

Demand for energy-efficient solutions has increased across several industries as a result of rising worries about energy consumption and environmental sustainability. Electric motors are an appealing option for a variety of applications due to their excellent energy efficiency when compared to conventional combustion engines. Particularly strong demand exists for electric motors in the automotive, industrial machinery, and HVAC (heating, ventilation, and air conditioning) industries.

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2. Stringent Government policies

To minimize greenhouse gas emissions and encourage the use of renewable energy technology, governments throughout the globe have put strict laws into place. Many nations have implemented regulations to promote the use of electric motors and other electric vehicle components, including subsidies, tax breaks, and refunds. The global electric motor market has grown significantly as a result of these encouraging policies.

Key Target Audience – Organizations and Entities Who Can Benefit by Subscribing This Report: 

• Electricity Supplier
• EV Manufacturers
• EV Charging Equipment Manufacturers
• EV Charging System Operator
• Demand side Transport Operators
• Government Bodies

Time Period Captured in the Report:

• Historical Year: 2017-2022
• Base Year: 2022
• Forecast Period: 2022– 2027

For more information on the research reports, refer to below link:

Global Electric Motor Market Outlook to 2027

Related Reports By Ken Research: -

Netherland Lubricants Market Outlook to 2027

UK Lubricant Market Outlook to 2027

3 trends driving the Global Labeling Machine Market- Revenues to exceed USD 4 Mn by 2027

 Global labeling machine market is at a growing stage. It is a fragmented market with the presence of many labeling companies. The labeling machine market has seen emergence of abundant players in the past 5 years and the industry will further boost owing to the needs and wants of consumers for a more personalized platform. Few major global labeling machine players are Sacmi Imola S.C., Accutek Packaging Equipment Companies, Inc, Krones AG., SIDEL, Barry-Wehmiller Group, Inc etc.

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1. Growing Adoption of Automatic Labeling Machine.

Use Case of Label Printing Machine Market

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Labeling done manually is time-consuming, and it is not a professional way of packing the product, especially during bulk production. Using a labeling machine to package products is time-saving and more professional. Labeling machines are commonly used in pharmaceutical industries, durable consumer industries, FMCG, and many other packaging industries. Fully automatic with advanced labeling features, these machines make the packaging job easy, clean, and hygienic. The work is done within a predetermined time frame and with high precision. Versatility, precision, and speed are key parameters for modern labeling machines, for example, with respect to the print module employed. Innovative rotary discs, electronic digital displays, readily changeable format sets, and smooth functioning of the machine are essential elements of the system.

2. Increasing Demand for Automation in Food and Beverage Labelling will induce growth in labelling machine market.

Predictive Analytics Process in Food Labeling Market

Automation in the food packaging process involves using robotics for food material handling. Most food packaging facilities use complex machines throughout the assembly line of food packaging. Automation has been a part of food and beverage manufacturing for some time. However, the impact of COVID-19 on labor and operations has led several top industry players to accelerate efforts to implement the technology. Tyson Foods unveiled a new productivity program that aims to create USD 1 billion in savings using digital technology like AI and predictive analytics in operations, supply chain, planning, logistics, and warehousing, as well as the implementation of automation and robotics.

3. Labeling Machines Market Segmented By Technology Globally, 2022
   
   
   

Over the forecast period, pressure-sensitive labelers are anticipated to be the most used label technology. They have widespread applications in the food and beverage industry. Their applications are not limited to food and beverage but are also being used in the pharmaceutical industry, consumer durables, personal care, and other industries like construction. Owing to the versatility of PSLs, the demand for such labelers is increasing. This has propelled the players in the industry to expand their capacities, which enables them to cater to the rising market demand. The growing demand for pressure-sensitive labels has resulted in increased vendor activity leading to increased investment in the segment

Key Target Audience – Organizations and Entities Who Can Benefit by Subscribing This Report

• Labelling Machine Manufacturers
• Labelling Machine Investors
• Labelling Machine Providers
• Labelling Machine Suppliers
• Labelling Machine Components Suppliers
• Allied Industries of Labelling Machines
• Government Ministries and Departments of Engineering Industry
• Labelling Machine Research and Development Companies
• Potential Entrants into Labelling Machine Industry

Time Period Captured in the Report

• Historical Period:2017-2022
• Base Period:2022
• Forecast Period:2022-2027

For More Insights On Market Intelligence, Refer To The Link Below: –

Global Labelling Machine Market Outlook to 2027

Related Reports By Ken Research:-

Indonesia Plastic Pipes Market Outlook to 2027

Australia Plastic Pipe Market Outlook to 2027F

Increasing internet penetration along with launch of 5G and electricity generation will Nigeria data center market: Ken Research

 1. Data center industry in Nigeria is dominated by Africa Data Centers and Open Access Data Centre, and is expected to grow with a robust CAGR from 2022 to 2027F.

Nigeria Private Equity and Venture Capitalist

The growing demand for smart devices, the increasing demand for analytics, cloud adoption, and wireless networking technologies will increase the investment in big data and IoT technology. Solar Naija project, National Broadband Plan and national Digital Economy Policy and strategy (2020-2030) will significantly boost data centre market in Nigeria.

2. Co-Location captures nearly more than half of the market share in 2022 as it provides redundant power supply, better security and scalability at lower price to host businesses.

 

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The co-location accounted for the highest market share of over ~70%. Colocation services are a major revenue contributor in the data centre market in Nigeria. More and more businesses are opting for colocation because of the convenience, security of their IT infrastructure and less power cuts. They provide redundant power supply, better security, and scalability at a lower price.

3. Retail co-location service has more preference in Nigeria data center market as there aren’t many big players who are willing to buy more than 10-15 racks.

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Retail by type of co-location accounted for the highest market share. This is due to dominance of small and medium businesses in Nigeria looking forth to retail colocation spaces. Big players either go for hyperscale or decide to have their captive data centre spaces. There is a limited presence of wholesale colocation because only few big players are willing to buy more than 10-15 racks.

For More Information on the research report, refer to below link: –

Nigeria Data Centre Market Outlook to 2027

Related Reports by Ken Research: –

Indonesia Data Center and Cloud Services Market Outlook to 2024

Malaysia Data Center Market Outlook to 2022