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Data Center Colocation Market in Wholesale Segment is Projected to Grow at CAGR of 17% by 2024

Author : Ronak Bora | Published Date : 2019-04-05 

The wholesale data center colocation market is anticipated to showcase a growth of nearly 17% CAGR over the forecast timespan. These providers rent the entire constructed facility to customers. They usually serve large-scale enterprises and rent out the data center space that ranges between 10,000 – 20,000 sq. feet or larger along with the cooling & power infrastructure. Several multinational enterprises that need to store a massive amount of data are dependent on these providers.

The enterprises are responsible for bearing the costs that are associated with the power, capacity, network connectivity, and internal staff. Wholesale users benefit from economies of scale as the services provide reduced cooling and power costs in comparison with retail colocation. Such factors are encouraging several large-scale industries to establish their facilities in the space offered by these players, thereby accelerating the data center colocation market growth.

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Over the recent years, the global data center colocation market has been witnessing remarkable pace of growth owing to the increasing complexity of managing humongous data centers and the shortcomings with regards to power and space. In addition to this, the emergence of the Internet of Things along with the rapid proliferation of big data and cloud technologies has compelled several business verticals to focus on planning the physical infrastructure of IT-based services. Moreover, large enterprises and SMEs are increasingly shifting to colocation hosting as building a new facility requires a large amount of initial investment, thereby boosting the revenue scale of data center colocation market.

The energy sector is expected to witness a high adoption of these services due to the increasing requirements for effective storage facilities for high-performance computing, data transfer & processing, and back-up. The companies operating in this sector are partnering with data center colocation market players for improving the efficiency in these data management tasks.

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The Asia Pacific data center colocation market is expected to accumulate exponential returns in the years to come, specifically on account of the fact that multinational enterprises like Microsoft, Google, Equinix and Amazon have been making the region the preferred destination for setting up their respective data centers. Some of the regions projected to record distinguished growth in the APAC include Hong Kong, Singapore as well as Australia.

It is prudent to mention that the demand for data centers across Hong Kong and Singapore is being driven by cloud service providers as well as other Chinese technology and financial companies. The anticipated demand has enabled IT services & solutions firm, One Asia, to open a six-story 128,000 s.f. data center in Kowloon Bay, Hong Kong. Meanwhile, the primary factor driving growth in the Australia data center colocation market in Australia is the rising number of cloud service providers.

Driven by a widespread application segment which includes retail, IT & telecom, manufacturing, healthcare, government & defense, energy, and BFSI, the data center colocation market is set to garner commendable proceeds from various geographies in the upcoming years. Additionally, the drastically changing technology trends and the favorable impact of big data, IoT, and AI on cloud infrastructure would further open up new opportunities for the companies partaking in the data center colocation market, which is slated to surpass USD 90 billion by 2024.

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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Fractovia.org and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. He can be contacted at- [email protected] | https://twitter.com/RonakBora26

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