Data Center Colocation Market Showing Footprints for Strong Growth by 2027
The latest trends in the data center colocation market are impelled by the rising demand for reducing IT expenditure on the commissioning of mission-critical data center infrastructure.
The rising popularity of data center colocation services is on account of multiple benefits such as cost-effectiveness and agility which are essential for handling the ongoing data requirements. Impelled by this, major data center colocation companies are also focusing on the adoption of innovative strategies such as acquisitions, mergers, partnerships, and product developments for consolidating their position in the market.
Propelled by similar advancements, the global data center colocation market share is anticipated to exceed USD 145 billion through 2027, cites the latest study conducted by Global Market Insights, Inc.
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Some major trends that are likely to bolster data center colocation industry expansion are as follows:
Rising penetration across the automotive industry
The automotive sector is undergoing significant transformation in all areas including servicing, leasing, distribution, and manufacturing owing to new norms by latest IT breakthroughs. The global car industry is already in a phase of transformation and this entails the incorporation of smart vehicles.
Furthermore, autonomous vehicles require real time information for proper operation, which necessitates the usage of data center colocation services. The automobile industry is undergoing considerable changes owing to the advent of edge computing as it boosts vehicle economy via technological improvements.
Due to these factors, data centers are set to become the cornerstone of the manufacturing sector. The demand for data center colocation market is expected to rise with the increasing penetration of digital technologies across the manufacturing sector.
Increasing use of colocation services by large enterprises
Colocation services are extensively used by large enterprises as this allows them to lease large premises while fulfilling their processing and power requirements. These services also help them in establishing complete control over their data center infrastructure.
The services assist in securing business continuity owing to their capabilities of catastrophe recovery. Also, large enterprises from various industries create huge amounts of data, necessitating infrastructure with high scale and better storage capacity.
On this note, data center colocation enables big organizations to lease extensive floor space close to customers, building up infrastructure on the basis of demand from that particular region. Tech giants, like Facebook and Google make vast use of data center colocation services.
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Growing product requirement across e-commerce industry
Recent years have recorded the expansion of e-commerce sector, which is contributing to escalating amounts of data in Canada and the U.S. As per the U.S. Census Bureau, the overall retail sales in the U.S. for the first quarter of 2021 reached USD 215.3 billion, a change of 39.3% in comparison to the first quarter of 2020.
Added to it, retailers are making considerable investments in their IT infrastructures for the protection of consumer data that can be utilized for determining product needs and customer buying behavior. The adoption of data center colocation services is expected to rise on account of the surging amounts of data with the expanding online retailing industry.
On the whole, the rising prevalence of cloud service providers and the expanding usage of cloud computing is set to boost data center colocation market share over the forecast period.
Table of Contents (ToC) of the report:
Chapter 1 Methodology & Scope
1.1 Scope & definitions
1.2 Methodology and forecast parameters
1.3 Impact of COVID-19
1.3.1 North America
1.3.2 Europe
1.3.3 Asia Pacific
1.3.4 Latin America
1.3.5 MEA
1.4 Data sources
1.4.1 Secondary
1.4.2 Primary
Chapter 2 Executive Summary
2.1 Data center colocation market 3600 synopsis, 2017 - 2027
2.1.1 Business trends
2.1.2 Regional trends
2.1.3 Type trends
2.1.4 End-use trends
2.1.5 Application trends
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