Data Center Colocation Market
WILMINGTON, DE, UNITED STATES, October 4, 2024 /
EINPresswire.com/ -- According to the report published by Allied Market Research, the
global data center colocation market size generated $46.08 billion in 2020, and is expected to garner $202.71 billion by 2030, witnessing a CAGR of 15.7% from 2021 to 2030.
Demand for cost-effective IT operations, the requirement of security, reliability, and scalability of data center infrastructure, and rise in demand for eco-friendly data center colocation service drive the growth of the global data center colocation market. However, high initial and long-term leasing costs and network bandwidth issues hinder the market growth. On the other hand, increase in adoption of the hybrid cloud and virtualization and rise in investments to develop advanced data centers present new opportunities in the coming years.
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The global data center colocation market size was valued at $46.08 billion in 2020, and is projected to reach at $ 202.71 billion by 2030, growing at a CAGR of 15.7% from 2021 to 2030. The concept of data center colocation has gained attraction nowadays due to the increasing need for additional data storage capacity to meet the requirements of internal and external IT services. In order to increase the existing data center capacity, the colocation data center has emerged as a lucrative option to enhance the business continuity. Many enterprises, especially small- and medium-sized enterprises, prefer using data center colocation services rather than investing huge capital in developing their own data centers. Colocation data center mainly requires operating expenses, thus, avoiding the upfront costs. Enterprises with local presence, in particular, have been following the trend of leasing space from colocation providers.
Covid-19 Scenario:
Many organizations adopted the “work from home” culture due to the shutdown of offices and manufacturing factories. This led to increase in usage of data center colocation facilities for accessibility and security of data.
In addition, education institutions began conducting online classes and examinations. This led to surge in utilization of data center colocation.
Service providers have been carrying out considerable investments in data center colocation facilities due to various factors such as the growth of over the top (OTT) market and increased traffic demand across the world.
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The report offers detailed segmentation of the global data center colocation market based on type, enterprise size, industry vertical, and region.
Based on region, North America accounted for the highest share in terms of revenue in 2020, contributing to nearly half of the total share, and is expected to maintain its dominance in terms of revenue by 2030. However, Asia-Pacific is projected to portray the highest CAGR of 19.3% during the forecast period.
Leading players of the global data center colocation market analyzed in the research include China Telecom Corporation Limited, CoreSite Realty Corporation, Cyrusone Inc., Cyxtera Technologies, Inc., Digital Realty Trust, Inc., Equinix, Inc., Global Switch, KDDI Corporation, and NTT Communications Corporation.
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