The data center colocation market is predicted to witness a substantial growth over the coming years with the rise in the adoption of these services in SMEs
Sellbyville, DE -- (SBWIRE) -- 06/17/2019 -- North America data center colocation market is growing at a rapid pace with the rising urbanization and industrialization in several economies of the region. Countries such as the U.S. and Canada are the fastest growing economies, where the global companies have established their business base. Several global companies that are generating massive volumes of business data due to their rapidly expanding operations are Facebook, Google, and Amazon. These companies are engaged in partnerships with the players in data center colocation market for the effective management of their IT facilities. For instance, Google partnered with Equinix, Inc. for the supply of colocation services.
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Over the recent years, the global data center colocation market has been witnessing remarkable pace of growth owing to the increasing complexity of managing humongous data centers and the shortcomings with regards to power and space. In addition to this, the emergence of the Internet of Things along with the rapid proliferation of big data and cloud technologies has compelled several business verticals to focus on planning the physical infrastructure of IT-based services. Moreover, large enterprises and SMEs are increasingly shifting to colocation hosting as building a new facility requires a large amount of initial investment, thereby boosting the revenue scale of data center colocation market.
The data center colocation market is predicted to witness a substantial growth over the coming years with the rise in the adoption of these services in SMEs. High initial costs associated with setting up the infrastructure facilities and the integration of several advanced solutions such as Automated Infrastructure Management (AIM) solutions are driving business expenses. These factors are compelling enterprises to focus on leasing facilities that will help in lowering the mounting expenses. Several advantages offered by these services to the SMEs include increased scalability & flexibility, predictable installation & integration costs, 24x7 support, and improved security of the business data. With increasing data center traffic, SMEs are increasingly adopting hosting services, thereby fueling the market growth.
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The wholesale data center colocation market is anticipated to showcase a growth of nearly 17% CAGR over the forecast timespan. These providers rent the entire constructed facility to customers. They usually serve large-scale enterprises and rent out the data center space that ranges between 10,000 – 20,000 sq. feet or larger along with the cooling & power infrastructure. Several multinational enterprises that need to store a massive amount of data are dependent on these providers. The enterprises are responsible for bearing the costs that are associated with the power, capacity, network connectivity, and internal staff. Wholesale users benefit from economies of scale as the services provide reduced cooling and power costs in comparison with retail colocation.
Driven by a widespread application segment which includes retail, IT & telecom, manufacturing, healthcare, government & defense, energy, and BFSI, the data center colocation market is set to garner commendable proceeds from various geographies in the upcoming years. Additionally, the drastically changing technology trends and the favorable impact of big data, IoT, and AI on cloud infrastructure would further open up new opportunities for the companies partaking in the data center colocation industry, which is slated to surpass USD 90 billion by 2024.
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Major players operating in the data center colocation market are Verizon Communication Ltd., Centurylink Technology Solutions, Equinix, Inc., NTT Data Corporation, Interxion Holding NV, Internap Corporation Global Switch Corporation, Cyxtera Technologies, Inc., KDDI Corporation, China Unicom, China Telecom Corporation Limited, Digital Realty Trust, Inc., CyrusOne, Inc., and Rackspace, Inc., among others.
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