Increasing data traffic and demand for efficient data management are among the significant factors influencing the market growth.
The global data center colocation market is expected to reach USD 120.54 Billion by 2028, according to a new report by Reports and Data. Datacenter colocation provides two major advantages, namely scalability and improved operational efficiency. It lets enterprises to better allot their budgets to activities that are crucial to the functioning of their core business, while still having the option for improvement when the need for upgradation arises. For instance, 365 Data Centers provides right-sized colocation facilities in 10 key cities all over the U.S. This offers small and medium-sized data colocation options that local presence, yet can be accessed nationally through all leading carriers.
Renting space in a data center colocation facility enables organizations to keep complete control over IT hardware without the concern associated with incurring high cost storing, powering, securing, and cooling the servers in house. The benefits provided by the colocation providers to scale up the storage capacity while cutting down on maintenance and security costs is offering businesses especially, small medium-sized enterprises substantial advantage enabling them to concentrate their efforts on achieving core business goals.
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Top 10 Companies Operating in the Global Keyword Market:
IBM Corporation, NTT Communications, Fujitsu Ltd., SoftBank Group Corporation, KT Corporation, British Telecommunications PLC, China Telecom Corporation Ltd., Tata communications, Terremark Worldwide Inc., and ATT Inc., among others.
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The global market is further segmented into type and application:
Type Outlook (Revenue, USD Million; 2018-2028)
- Retail Colocation
- Wholesale Colocation
Organization Size Outlook (Revenue, USD Million; 2018-2028)
- Small Medium-Sized Enterprises
- Large Enterprises
Industry Vertical Outlook (Revenue, USD Million; 2018-2028)
- BFSI
- Manufacturing
- IT Telecom
- Energy
- Government
- Healthcare
- Media Entertainment
- Others
Regional analysis provides insights into key trends and demands in each major country that can affect market growth in the region.
- North America (U.S., Canada, Mexico)
- Europe (Germany, U.K., Italy, France, BENELUX, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Rest of APAC)
- Latin America (Brazil, Rest of LATAM)
- Middle East Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Further key findings from the report suggest
- By type, retail colocation contributed to the largest market share in 2018 and is likely to grow at a rate of 12.7% in the forecast period. The market dominance of this segment is owing to the fact that retail colocation providers can accommodate enormous footprints while providing on-site staff, managed services, and carrier and cloud connectivity.
- By organization size, large enterprises dominated the market in 2018 and is expected to grow at a rate of 12.4% in the forecast period. Reductions in OPEX and the ability to emphasize IT capabilities on core business, by data center colocation allows large organizations to maximize the potential within their companies.
- By industry vertical, the healthcare sector is forecasted to witness the fastest CAGR of 13.7% in the forecast period. Increasing digital innovations and technological advancements are augmenting the growth of data in the healthcare industry. Several healthcare departments are gathering data from clinical trials and several outpatient records to analyze and derive meaningful insights from the collected data.
- The market in the North America region held the largest market share in 2018 and is estimated to grow at a rate of 12.6% in the forecast period. The increasing demand from the end-user industries, as well as rapid increase in data traffic, are the factors causative of the growth of the market in the region.
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