27.01.2021 Консалтинг

Data Center Colocation Market Competitive Landscape, Insights by Geography, and Growth Opportunity

The vertical segment of the data center colocation market is divided into banking, financial services, and insurance (BFSI), healthcare, IT and telecom, government and defense, retail, energy, manufacturing, research and academics, and others. During the historical period (2014–2019), the highest revenue to the industry was contributed by the IT and telecom division, as rising volumes of data are being generated due to the increasing usage of cloud computing, IoT, and artificial intelligence (AI).

Entities using such advanced technologies require secure, flexible, cost-effective, and scalable data storage. Apart from the usage of the above-mentioned technologies, environmental concerns are also surging, which is why such data centers are going green. Such eco-friendly settings offer the same quality of colocation services as conventional variants, but they require less space and power. The latter is achieved with the help of ENERGY STAR-rated electrical and electronic systems and by creating in-house electricity from solar panels.

Numerous countries are bound by the targets set by the Paris Agreement and Kyoto Protocol, which is propelling the setting up of green data centers offering colocation services. Till 2030, North America is projected to hold the largest value share in the data center colocation market, as some of the world’s highest-data-generating companies, such as Google LLC, Facebook Inc., and Amazon.com Inc., are headquartered here.

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With such tech giants partnering with IT service providers, data center space leasing activities are rising in the continent. The highest CAGR during the forecast period will be witnessed in Asia-Pacific (APAC) due to the advancing IT and telecom and healthcare sectors. In addition, hordes of North American and European firms outsource their IT-based processes to APAC nations, which is driving the need for data storage space here.

Therefore, with the rapid digitization and high costs associated with in-house data centers, more companies around the world will lease storage space.