New York, Oct. 06, 2021 (GLOBE NEWSWIRE) -- Data Center Colocation Market: Key Insights
According to our latest market study on "Data Center Colocation Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Type, Enterprise Size, and Application," the Data Center Colocation Market Size was valued at US$ 50,579.1 million in 2021 and is projected to reach US$ 136,647.9 million by 2028; it is expected to grow at a CAGR of 15.3% from 2021 to 2028.
Data Center Colocation Market: Competitive Landscape and Key Developments
Equinix Inc.; IBM Corporation; AT&T Inc.; Cyxtera Technologies, Inc.; Digital Realty Trust LP; CoreSite Realty Corporation; CyrusOne, Inc.; QTS Realty Trust, Inc.; 365 Data Centers; and UnitedLayer are among the key players that were profiled during this market study. In addition to these players, several other important market players were studied and analyzed during the course of this market research study to get a holistic view of the global data center colocation market and its ecosystem.
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In June 2021, CoreSite Realty Corporation—a leading provider of secure, high-uptime data center campuses with high-performance cloud access and interconnection solutions across the US—recently released its 2021 State of the Data Center Report in collaboration with IDG Communications. The newest data center trends, strategies, requirements, and other results from an annual quantitative survey and in-depth interviews with top IT decision-makers are examined in this yearly study.
A colocation facility, often referred to as a colo, is a data center where an enterprise can rent space for servers and other equipment; however, a data center colocation provider manages these servers and equipment. The colocation firms offer the building, power, cooling, bandwidth, and physical security. Enterprises can lease space by the cabinet, rack, cage, or room. Being one of the popular alternatives to traditional hosting, data center colocation facilities house multiple businesses (multitenant) that may only need one or two server racks. Moreover, unlike the data centers connected to the big-name cloud vendors such as Google, Amazon, and Microsoft, most colocation data centers are often located in big metropolitan areas.
Beneficial features offered by data center colocation—such as lower costs compared to building one's own facility, reduction in the number of technical processes, easy scalability, highest specification backup power generators, excellent physical security, and multiple network connections—are significantly bolstering the growth of the market. Versatile colocation facilities accommodate a wide range of customer needs by incorporating older legacy equipment and the latest in high-density server technology. It ensures 24x7x365 remote services to keep systems up and running regularly. Colocation data centers build hybrid and multi-cloud architectures to enhance data security and cloud flexibility, boosting the market growth.
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In Europe, there has been a significant percentage growth in the businesses migrating to the cloud. EU enterprises are using cloud computing for e-mail and file storage. Finland, Sweden, Denmark, and the Netherlands are among the major countries using cloud computing services. An increase in the adoption of cloud computing in the UK and Germany, along with several investments from the cloud and hyperscale providers such as Facebook, Google, and Apple, is anticipated to boost the growth of the data center colocation market in Europe. Further, the growth of edge computing, 5G, and the industrial internet of things (IIoT) has increased the demand for data security. This has increased European data compliance rules, thereby acting as a driver for the market. Rising adoption of big data and IoT for innovative initiatives and increasing projects such as Smart Cities are driving the data center colocation market in the region.
Artificial Intelligence is anticipated to bring about lucrative growth opportunities for the data center colocation market. AI in data centers protects networks, filters alerts, and moves workloads. The rise of AI compute as a service is anticipated to affect the data center colocation market positively. The increase in automation and robotics to install servers and manage disk storage and interconnection is also bolstering the market's growth. Data center colocation providers are focusing on innovation and energy-efficient solutions to address both customers and regulatory requirements. The shift toward sustainable energy consumption is bolstering the growth of edge computing. The global rise in data use, the advent of 5G, and a long-term remote workforce are projected to drive the demand for edge computing. Enterprises are adopting AI to meet business challenges, including increasing efficiency, in-depth predictive analysis, and improving customer experience. AI-ready data center colocation facilities are utilizing graphics processing units (GPUs) to accelerate applications' processing opportunities. Thus, companies such as NVIDIA are offering DGX-1 servers with GPUs with Deep Learning and increased performance levels that provide increased opportunities for enterprises to cater to their business objectives.
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Data Center Colocation Market: Industry Overview
Based on industry, the market is segmented into IT & telecom, BFSI, healthcare, retail, and others. In 2020, the IT & telecom segment accounted for the largest share in the market.
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