Market Research Report
Data Center Colocation Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025
|Published by||IMARC Services Private Limited||Product code||967648|
|Published||Content info||142 Pages
Delivery time: 2-3 business days
|Data Center Colocation Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025|
|Published: October 16, 2020||Content info: 142 Pages||
The global data center colocation market grew at a CAGR of around 12% during 2014-2019. Data center colocation refers to a service that enables enterprises to rent physical space, network bandwidth and other computing resources within an existing data center. These data centers are equipped with in-built networking components, power backup facilities, information protocol (IP) system and cooling units and are usually available in retail and wholesale setups. In comparison to the traditionally used data centers, colocation data centers are more cost-effective, highly reliable, easily scalable, can be located near the users and require minimal technical staff. As a result, they find extensive applications across various industry sectors, such as banking, financial services and insurance (BFSI), healthcare, information technology (IT), manufacturing, energy, government and retail.
Rapid digitization across industries, along with the increasing utilization of hybrid cloud computing and virtualization systems, is one of the key factors driving the growth of the market. Data center colocation facilities are located away from the user premises and can be controlled remotely in case of disasters to secure the data. Furthermore, widespread adoption of reliable, scalable and secure infrastructure for efficient data recovery and business continuity requirements, is providing a thrust to the market growth. With the increasing number of small- and medium-sized enterprises (SMEs), especially in the developing economies, there is a substantial rise in the deployment of modular data centers to keep up with the rising network complexities. Other factors, including the growing demand for data storage facilities from the e-commerce industry, along with significant improvements in the IT infrastructure, are anticipated to drive the market further. Looking forward, IMARC Group expects the global data center colocation market to continue its strong growth during the next five years.