Data Center Colocation Market | Covid19 Impact Analysis | Business Outlook, Growth, Revenue, Trends and Forecasts 2030
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In addition, as numerous companies operate globally, they need to store data at multiple locations, for faster and more-flexible access to it for employees across geographically distant branch offices.Companies are using this data to analyze trends and make changes to their business strategies, maintain customer relations, improve their products or services, and increase profits. To achieve all this, the company must be ready to store and efficiently study the increasing data volume.
This is the primary factor which is expected to drive the global data center colocation market at a 14.8% CAGR between 2020 and 2030; the market reached $42.1 billion in 2019. The highest CAGR in the data center colocation market, of 16.4%, will be experienced by the healthcare industry during 2020–2030.
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This is because, by renting space for servers and data at colocation centers, healthcare providers, electronic health record (EHR) solution vendors, healthcare IT companies, and investment firms are able to dedicate more employees to their core areas, such as innovation, medical research, and crisis management. Moreover, data colocation centers comply with the guidelines implemented under the Health Information Technology for Economic and Clinical Health (HITECH) Act and Health Insurance Portability and Accountability Act (HIPAA), guard the data against environmental hazards and physical intrusions, and make it available to all concerned authorities round the clock.
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