NEW YORK, May 25, 2020 (GLOBE NEWSWIRE) -- Currently, 2.5 quintillion bytes of data is produced every day, which is expected to rise by 10 times by 2050, as a result of the adoption of social media platforms and internet of things (IoT). Much of this data is being created by machine-to-machine, embedded, IoT devices. The other reason for the growing data volume is the creation and consumption of video and image content for entertainment, advertising, business, and security purposes.
Companies are using this data to analyze trends and make changes to their business strategies, maintain customer relations, improve their products or services, and increase profits. To achieve all this, the company must be ready to store and efficiently study the increasing data volume. This is the primary factor which is expected to drive the global data center colocation market at a 14.8% CAGR between 2020 and 2030; the market reached $42.1 billion in 2019.
Get the Sample Copy of this Report at: https://www.psmarketresearch.com/market-analysis/data-center-colocation-market/report-sample
Retail Colocation To Hold Larger Share in Market till 2030
In the near future, the retail colocation bifurcation is predicted to continue dominating the market, as such facilities can provide cloud and carrier connectivity, managed services, and on-site staff to a large number of customers at once. Such solutions are ideal for companies which do not have to work with huge volumes of data, require less storage space for a limited period of time, and do not plan data expansion. Moreover, businesses with low budgets, such as small and medium enterprises (SME), generally adopt retail data center colocation solutions. In addition, these services let companies store their data in various places around the world, which is preferred by companies with more than one operational base.
Large enterprises are currently the larger users of colocation services, on account of their desire to decrease their operational expenses and increase focus on their more-critical areas. This is being done by giving the responsibility to house their expensive information technology (IT) hardware, such as routers, modems, and servers, to data centers, which also let them store huge amounts of data. In addition, as numerous companies operate globally, they need to store data at multiple locations, for faster and more-flexible access to it for employees across geographically distant branch offices.
The highest CAGR in the data center colocation market, of 16.4%, will be experienced by the healthcare industry during 2020–2030. This is because, by renting space for servers and data at colocation centers, healthcare providers, electronic health record (EHR) solution vendors, healthcare IT companies, and investment firms are able to dedicate more employees to their core areas, such as innovation, medical research, and crisis management. Moreover, data colocation centers comply with the guidelines implemented under the Health Information Technology for Economic and Clinical Health (HITECH) Act and Health Insurance Portability and Accountability Act (HIPAA), guard the data against environmental hazards and physical intrusions, and make it available to all concerned authorities round the clock.
Browse report overview with 100 tables and 59 figures spread through 172 pages and detailed TOC on “Data Center Colocation Market - Global Industry Size, Share and Growth Forecast to 2030” at: https://www.psmarketresearch.com/market-analysis/data-center-colocation-market
North America has been the largest revenue contributor to the market up till now, on account of the abundance of colocation service providers and data centers in the region. Additionally, with global tech giants, such as Facebook Inc., Google LLC, and Amazon.com Inc., expanding their presence here, the amount of data being generated and requiring efficient storage is also rising. In the near future, the fastest industry growth would be witnessed in Asia-Pacific (APAC), as the telecom, healthcare, and IT industries in the emerging economies of the region are advancing at a good pace. In addition, most companies here cannot afford on-site data centers, owing to high power, space, and internet protocol (IP) transit costs.
Partnerships Enabling Players to Strengthen their Hold on Industry
In a bid to strengthen their position in the market for data center colocation services, companies are engaging in partnerships, as such moves are enabling them to:
- Enter the market in more countries and regions than before
- Establish data center colocation facilities within the campuses of their partners
- Enhance their portfolio of services
- Maintain their own proprietary indices for equities, interest rates, energy, foreign exchange, and equipment
- Reach a wider customer base
Make Enquiry Before Purchase at: https://www.psmarketresearch.com/send-enquiry?enquiry-url=data-center-colocation-market
The major global data center colocation market players include Equinix Inc., NTT Communications Corporation Ltd., Digital Realty Inc., China Unicom (Hong Kong) Limited, KDDI Corporation, China Telecom Corporation Limited, CyrusOne Inc., Global Switch Holdings Limited, Cyxtera Technologies Inc., Internap Corporation, InterXion Holding N.V., CoreSite Realty Corporation, Cogent Communications Holdings Inc., Verizon Enterprise Solutions Inc., Keppel Data Centres Pte Ltd., and Rackspace US Inc.
More Reports of ICT And Media By P&S Intelligence
Human Enhancement Market
Till 2030, Asia-Pacific (APAC) is projected to witness the most rapid human enhancement market growth, on account of the burgeoning sales of connected wearable devices, which is itself a result of a reduction in their prices and rise in the number of people with internet access.
https://www.psmarketresearch.com/market-analysis/human-enhancement-market
Digital Twin Market
Geographically, North America held the largest share in the digital twin market throughout the historical period (2014–2019). This is because the investments in the IT infrastructure in the region are higher than others, and the technology continues to witness rapid improvements.
https://www.psmarketresearch.com/market-analysis/digital-twin-market
About P&S Intelligence
P&S Intelligence is a provider of market research and consulting services catering to the market information needs of burgeoning industries across the world. Providing the plinth of market intelligence, P&S as an enterprising research and consulting company, believes in providing thorough landscape analyses on the ever-changing market scenario, to empower companies to make informed decisions and base their business strategies with astuteness.
Contact:
P&S Intelligence
International: +1-347-960-6455
Email: enquiry@psmarketresearch.com