The market is estimated to grow at a CAGR of over 26.06% during the forecast period, with the growth driver attributed to increased focus on energy management and green initiatives

According to the report, there is a trend towards high adoption of IOT, in-built sensors, and edge computing, however, investments in initial infrastructure and related requirements poses a challenge.

The Internet of Things (IoT) is driving a significant increase in data traffic, particularly mobile data, leading to a high demand for cloud applications, the report says.

"IoT deployments involve connecting and integrating vast volumes of data from remote assets into existing infrastructure systems," Technavio said in its report announcement.

"DCIM solutions play a crucial role in managing thermal, power, and cooling, as well as network management for these large data sets.

"With the growing adoption of IoT and sensors, data centres and DCIM software are evolving to accommodate the changing IT infrastructure requirements of enterprises.

"Vendors must upgrade their DCIM offerings to meet these needs by enhancing monitoring capabilities."

Technavio says Data Center Infrastructure Management (DCIM) solutions have become essential for organisations looking to optimise their data centre infrastructure.

Trends such as energy efficiency and next-generation DCIM offerings are driving the market forward, according to Technavio.

"Disparate applications and IT assets require accurate configuration and real-time monitoring for successful implementation," Technavio said.

"Operators seek holistic visibility into critical data centers, including power consumption, temperature, and humidity.

"Modernisation initiatives involve integrating sensors, meters, and environmental sensors for power efficiency and cooling statistics.

"DCIM providers offer asset management solutions for IT and facility operators, addressing challenges like data accuracy, manual data entry, and typographical mistakes.

"Functional domains include equipment management, cooling systems, and power management."