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Thursday , August 18 2022

Kuwait’s data market to achieve growth

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KUWAIT CITY, May 18: A report issued by Research and Markets Company reviewed Kuwait’s data center market and investment opportunities during the period between 2022-2027, and affirmed that the market will achieve a compound annual growth rate of ten percent from KD 166 million in 2022 to KD 295.1 million in 2027, reports Al-Anba daily.

The report was based on in-depth analysis of insights on the impact of the COVID- 19 pandemic on the data market and growth opportunities. It affirmed that Kuwait is an emerging center for information technology in the Middle East. The report explained that Kuwait, within the framework of the New Kuwait 2035 vision initiative, aims to be a financial and commercial center in the Middle East.

The government agencies and the private sector are turning to digital platforms, which enhances the development of cloud computing, shared sites, and managed facilities, thus promoting the growth of the data market centers. The rise in the number of Internet users will lead to increased data generation, enhanced data traffic, rapid development in networking, increased support from government agencies, heavy adoption of cloud services, which represent strong factors for the growth of the data center industry in Kuwait.

The adoption of VRLA battery-based UPS systems dominates the market with a share of more than 90 percent, as most data centers are equipped with UPS N1 systems that can be expanded up to N2 according to customer requirements. The establishment of new projects in Kuwait dominates the market in addition to the establishment of local standard data centers.