Data Center Colocation Market to Reach USD 195.09 Billion by 2031 | SkyQuest Technology
Westford, USA, Aug. 28, 2024 (GLOBE NEWSWIRE) — SkyQuest projects that the Global Data Center Colocation Market will reach a value of USD 195.09 Billion by 2031, with a CAGR of 15.3% during the forecast period (2024-2031). The growing demand for IT infrastructure required by businesses has surged over the past few years. Today, companies are highly dependent on data, leading to increased implementation of cloud services. Colocation data centers have allowed fast scaling of IT needs of companies. In addition, growing prices of keeping and maintenance of data centers for businesses to produce varying data quantities are significantly impacting the market growth.
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Browse in-depth TOC on the “Data Center Colocation Market”
- Pages – 157
- Tables – 40
- Figures – 75
Data Center Colocation Market Overview:
| Report Coverage | Details |
| Market Revenue in 2023 | USD 62.46 Billion |
| Estimated Value by 2031 | USD 195.09 Billion |
| Growth Rate | Poised to grow at a CAGR of 15.3% |
| Forecast Period | 2024–2031 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Type, End User, and Industry |
| Geographies Covered | North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa |
| Report Highlights | Growing number of patent filings by major market players |
| Key Market Opportunities | Increasing Investments in the Emerging Economies |
| Key Market Drivers | Mounting Demand for High-Speed Connections |
Customized Services Offered by Wholesale Colocation to Drive Growth
By type, the wholesale colocation segment led the market in the past years and is expected to lead the market in the coming years. Several providers of could services are shifting towards colocation to target big enterprises due to their large number of consumers, which produce huge data quantities. Moreover, it offers customized services to its tenants in comparison to the retail colocation. The retail segment is expected to be the fastest growing since it allows businesses to handle small data volumes and needs restricted infrastructure. This is markedly impacting the demand for retail colocation in small and medium enterprises. Moreover, low-budget needs are also attracting these enterprises for retail colocation.
Developments in Software and Rising Penetration of Smartphone Users to Drive IT and Telecom Sector
By end user, the IT and telecom segment registered for maximum share of the market and is expected to continue dominance over the forecast period as well owing to the rising number of mobile internet users and current developments of novel software. Mounting use of smartphones with improved features will substantially rise in the future, thereby driving the segment growth. Conversely, the BFSI segment is anticipated to be the fastest-growing segment over the estimated period. Rising use of digital banking services comprising online payment systems, mobile banking, and more that need higher reliability and security levels is propelling the segment growth.
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Expansion of Cloud Computing and E-Commerce to Propel Market in North America
Region-wise, North America held the maximum market share due to several colocation providers. The region is also classified by the increasing number of improvements in colocation facilities, with the United States leading the market among others. Also, the expansion of e-commerce, cloud computing, and social media is driving the market in the region. Asia-Pacific is observed to be the fastest-growing region in the data center colocation market owing to heavy adoption of big data, cloud computing, and Internet of Things. Moreover, the rising use of data centers in nations like Japan, China, Singapore, and India is projected to fuel the demand for data center colocation services in the region.
Data Center Colocation Market Insight
Drivers:
- Growing Amount of Data Traffic
- Rising Need for Extended Network Capacity
- Growing Utilization of Modular Data Center in Middle East & Africa
Restraints:
- Shortage of Proficient Labor
- High Start-Up and Maintenance Costs
- Strict Government Policies and Regulations
Prominent Players in Data Center Colocation Market
The following are the Top Data Center Colocation Companies
- Equinix Inc.
- Digital Realty Trust Inc.
- NTT Communications Corporation
- China Telecom Corporation Limited
- CyrusOne Inc.
- Global Switch
- Interxion Holding NV
- Level 3 Communications LLC
- Verizon Communications Inc.
- CoreSite Realty Corporation
Key Questions Answered in Global Data Center Colocation Market Report
- What is the expected size of the Data Center Colocation Market, according to SkyQuest Technology?
- Which region will lead the Data Center Colocation Market over the forecast period?
- Which Type segment registered maximum share of the Data Center Colocation Market?
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This report provides the following insights:
Analysis of key drivers (rising demand for hybrid cloud infrastructure, rising need for virtualization technologies, heavy adoption of green data center solutions), restraints (location restraints for colocation services, services associated with extra cost for customers, high complexity and cost for initial deployment), opportunities (growing businesses continuity needs, growing disaster recovery, growing investments for better data center colocation facilities), and challenges (changing data center’ nature, sustainability regulations, shortage of staffs) influencing the growth of data center colocation market
Market Penetration: Comprehensive information on the product portfolios offered by the top players in the data center colocation market
Product Development/Innovation: Detailed insights on the upcoming trends, R&D activities, and product launches in the data center colocation market
Market Development: Comprehensive information on lucrative emerging regions
Market Diversification: Exhaustive information about new products, growing geographies, and recent developments in the market
Competitive Assessment: In-depth assessment of market segments, growth strategies, revenue analysis, and products of the leading market players.
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