JERSEY CITY, N.J., Jan. 12, 2022
The growing requirement for scalable data centers, reduced overall IT expenditure, and the growing data center complexities are the major growth drivers of the Data Center Colocation Market.
JERSEY CITY, N.J., Jan. 12, 2022 /PRNewswire/ -- Verified Market Research recently published a report, "Data Center Colocation Market" By Type (Retail Colocation, Wholesale Colocation), By End-User (Small and Medium-Sized Enterprises, Large Enterprises ), By Industry (Banking, Financial Services, and Insurance, IT and Telecom), and By Geography. According to Verified Market Research, the Global Data Center Colocation Market size was valued at USD 44.46 Billion in 2020 and is projected to reach USD 127.93 Billion by 2028, growing at a CAGR of 14.02% from 2021 to 2028.
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Global Data Center Colocation Market Overview
Rapid digitization throughout industries, together with the growing usage of hybrid cloud computing and virtualization systems, is one of the key elements driving the growth of the data center colocation marketplace. Datacenter colocation facilities are located away from the consumer premises and may be managed remotely in case of failures to secure the records. In addition, the huge adoption of reliable, scalable, and secure infrastructure for efficient data recovery and enterprise continuity requirements, is providing a thrust to the marketplace growth.
In addition, the increasing amount of information from social media and over the top platforms has increased the demand for data centers and colocation services. The quantity of lively customers on social media is growing exponentially and, thus, contributing to the growing data from those platforms. Furthermore, the Covid-19 pandemic has resulted in the increasing utilization of OTT and streaming services leading to accelerated data volumes that are predicted to fuel the marketplace growth.
Moreover, with the growing number of small- and medium-sized enterprises (SMEs), specifically in the growing economies, there's a tremendous rise in the deployment of modular data centers to keep up with the growing network complexities. In addition, SMEs have monetary limitations, because of which, cost reduction will become a primary thing for the organization's growth. In addition, colocation data center implementation helps small businesses save operating fees and overheads. As a result, small and medium-sized businesses feel it is appropriate to colocation data center facilities rather than owning and operating them in order to drive market growth.
The major players in the market are CyrusOne Inc., NTT Communication Corporation, Equinix, Inc., Digital Realty Trust, Inc., Global Switch, Cyxtera Technologies, Inc., AT&T, Inc., Coresite Realty Corporation, China Telecom Corporation Limited, and Interxion Holding NV.
Verified Market Research has segmented the Global Data Center Colocation Market On the basis of Type, End-User, Industry, and Geography.
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