The global data center colocation market is forecasted to develop with a CAGR of 15.87% over the estimated years of 2021 to 2028. The market growth is attributable to the increasing demand for cloud and hybrid services, the need for scalability, government support, and new data storage regulations.
Data center colocation is a service provided by organizations offering enterprise businesses with a shared, secure space to store data and numerous other equipment hardware. The enterprise customer interacts with the colocation company in a manner like a rental relationship with a property manager, in which the customer rents storage space within the facility. Typically, the equipment, such as servers in addition to other hardware, is provided by the customer.
The emergence of the industrial 4.0 revolution, the Internet of Things (IoT), and big data analytics necessitates reliable and flexible IT resources. Furthermore, the rise in penetration of cloud computing, as well as rapid digitalization, have resulted in the steady growth of the data center industry. Moreover, the switch to remote working and work-from-home increases the need for security concerns in data centers has significantly augmented the demand for data center colocation services.
The global data center colocation market growth assessment includes the analysis of the Asia-Pacific, Europe, North America, and the Rest of World. The Asia-Pacific is set to be the fastest-growing region during the forecast period, driven by key factors such as the rapid surge in digitization and modernization, the shift towards extensive cloud technology usage, and the emergence of high-end technologies such as artificial intelligence.
Regardless of operational location, the competitive rivalry within the global data center colocation market is also determined by the service reliability, cost of services offered, as well as scalability parameters. Moreover, the competition in infrastructure is heavily reliant on customer retention, cost, warranty, product innovation, aftermarket services, and reseller base.
Some of the top companies operating in the market include Equinix, Digital Reality, China Telecommunications Corporation, etc.
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