SELBYVILLE, Delaware, Oct. 24, 2019 /PRNewswire/ -- The Data Center Colocation Market revenue is expected to cross USD 100 billion by 2025; according to a new research report by Global Market Insights, Inc. The rapid increase in the IT budget of enterprises for storing and managing their organizational data is driving the industry growth.
Global expansion has led to the generation of massive organizational data that requires large-scale facilities and modern technologies for effective management and security of the information. The global companies are either establishing new data center facilities or transforming their traditional infrastructure facilities to large-scale data centers with the integration of modern technologies, increasing IT investments & expenses. Such factors are driving the data center colocation industry growth.
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Some major findings of the data center colocation market report include:
- Rapid increase in the IT budget of enterprises for storing and managing their organizational data is being witnessed.
- The overall IT spending grew by 3.9% in 2018, accounting for USD 3.65 trillion due to the increased spending by major hyperscale cloud providers.
- Companies are outsourcing their IT management operations to save their space and additional costs encountered in establishing large facilities.
- Players are introducing differentiated and advanced solutions to remain competitive in the market.
- The growing demand for these solutions in various industrial sectors is encouraging organizations to expand globally and focus on product developments and digital advancements.
- Key players operating in the industry include Rackspace, Inc., Interxion Holding NV, Digital Realty Trust, Inc., CyrusOne. Inc., Global Switch Corporation, Verizon Communication Ltd., China Telecom Corporation Limited, Cyxtera Technologies, Inc., NTT Data Corporation, China Unicom, Equinix, Inc., Centurylink Technology Solutions, and KDDI Corporation.
The data center colocation market is anticipated to witness substantial growth with the rise in demand for these services from small enterprises. Scalability is a major concern for small & medium enterprises where colocation hosting enables these companies to scale their resources. In addition, most of the colocation service providers offer managed services, such as OS updating, monitoring, replacement of disk drives, and hosting services, to their clients. Other major benefits of colocation data centers for SMEs include security, all-round customer support, reliability uptime, and compliance management.
Browse key industry insights spread across 210 pages with 196 market data tables and 31 figures & charts from the report, "Data Center Colocation Market Size By Type (Retail Colocation, Wholesale Colocation), By End-Use (SMEs, Large Enterprises), By Application (BFSI, Energy, Government & Defense, Healthcare, Manufacturing, IT & Telecom, Retail), Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2019 – 2025" in detail along with the table of contents:
Retail colocation accounted for majority of the data center colocation industry share as these services offer high security in a multi-tenant environment. Colocation is gaining popularity for organizations aiming to reduce the expenses associated with maintaining and building data centers. Constructing & maintaining a data center is not a feasible option for businesses that have budgetary constraints. Also, small & medium-sized enterprises have limited data storage requirements, encouraging them to shift to data center colocation services.
Data Center Colocation Market Statistics, By Application
1.1 Key trends by application
1.2.1 Market estimates and forecast, 2014 - 2025
1.3.1 Market estimates and forecast, 2014 - 2025
1.4.1 Market estimates and forecast, 2014 - 2025
1.5.1 Market estimates and forecast, 2014 - 2025
1.6.1 Market estimates and forecast, 2014 - 2025
1.7 IT & telecom
1.7.1 Market estimates and forecast, 2014 - 2025
1.8.1 Market estimates and forecast, 2014 - 2025
1.9.1 Market estimates and forecast, 2014 - 2025
The increasing usage of data centers across various IT & telecom industry sectors to store the increasing amount of data generated will drive the colocation data center market growth. The growing demand for the storage of huge volumes of data coupled with improving efficiency across business operations provides growth opportunities to market participants. Several service providers in the market are offering their services specifically to these industry sectors. For instance, China Telecom Americas Corporation is offering disaster recovery and website hosting services for managing the massive amount of data generation.
The Europe data center colocation market is expected to experience substantial growth over the forecast timespan owing to the high density of colocation data centers in Germany, the UK, France, and the Netherlands. There are over 1,160 colocation data centers spread over 20 countries in the region. Several European countries including Italy, Spain, and Russia are recovering from their economic crisis, which is proving to be a decent opportunity for business organizations to grow and has led to the demand for efficient data storage techniques, fueling market growth. Companies, such as FR5, Telehouse North, Paris Voltaire, PA2, and Telehouse East, are some of the prominent data centers with a maximum number of service providers in the region.
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