Product ID: SQMIG45C2036
Global Data Center Colocation Market Size, Share, Growth Analysis, By Type(Wholesale Colocation and Retail Colocation), By End-User(IT and Telecom, and BFSI) - Industry Forecast 2024-2031
Report ID:
SQMIG45C2036 |
Region:
Global |
Published Date: March, 2024
Pages:
157
|
Tables:
60 |
Figures:
75
Global Data Center Colocation Market Insights
Global Data Center Colocation Market size was valued at USD 46.10 billion in 2022 and is poised to grow from USD 53.15 billion in 2023 to USD 166.02 billion by 2031, growing at a CAGR of 15.3% during the forecast period (2024-2031).
High cost associated with owning and maintaining a data center, especially for companies that generate inconsistent data volumes, is driving market growth. Research shows that owning or constructing a data center facility can cost over USD 300 per square foot, in addition to the cost of laying the required fiber cabling. In-house handling of an entire data center facility is a high-cost component for SMEs, while larger organizations can easily absorb this cost. Data center colocation offers a viable and affordable alternative to renting data center space, which is expected to drive market growth over the forecast period. The growing volume of data from social media and Over-The-Top (OTT) platforms has increased the demand for data centers and colocation services. The emergence of technologies like IoT, cloud computing, autonomous vehicles, and advanced robotics has resulted in the increased demand for higher bandwidths and faster data processing. Colocation data centers are suitable to fulfill such requirements, as the operators can locate their data center facilities in proximity to the users, offering enhanced storage and networking services. However, the rising adoption of cloud data centers, owing to their lower costs, is expected to act as an inhibitor to market growth. Smaller organizations increasingly adopt cloud services as they offer scalable low costs, eliminate the need for IT staff, and have lesser overheads. Colocation centers offer cost benefits in the long run along with flexibility in terms of total server control, making them an attractive option for enterprises.
Global Data Center Colocation Market Report Snapshots
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