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Data Center Colocation Global Market Report 2024 Market Size, Share, Analysis, Trends And Strategies 2024-2033
Data Center Colocation Global Market Report
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According to The Business Research Company's, The data center colocation market size has grown rapidly in recent years. It will grow from $62.46 billion in 2023 to $71.27 billion in 2024 at a compound annual growth rate (CAGR) of 14.1%. The growth in the historic period can be attributed to cost efficiency and scalability needs, focus on core business functions, disaster recovery and business continuity, globalization and data accessibility, regulatory compliance requirements.
The data center colocation market size is expected to see rapid growth in the next few years. It will grow to $124.15 billion in 2028 at a compound annual growth rate (CAGR) of 14.9%. The growth in the forecast period can be attributed to edge computing growth, rise in internet of things (IoT) deployments, sustainability and green data centers, increased demand for managed services. Major trends in the forecast period include modular and prefabricated data centers, integration of 5G technology, AI and machine learning for data center optimization, increased interconnectivity services, focus on disaster recovery and business continuity.
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Market Drivers and Trends:
The high cost of an in-house data center is encouraging companies to adopt data center colocation services which in turn is propelling the demand for the data center colocation market. Colocation services result in significant cost savings as compared to managing an in-house data center. For instance, the average annual cost of operating a large data center ranges from $10 million to $25 million. With data center colocation services, companies can reduce their spending on managing and maintaining an in-house server, which in turn reduces the overall IT expenditure of the companies. Therefore, the high cost of an in-house data center is increasing the demand for the data center colocation market growth.
The introduction of the underwater data center is shaping the data center colocation market. The underwater data center is designed to use renewable electricity from tides and waves. It occupies less land onshore and is capable of using the flowing seawater to efficiently cool the electronics. In January 2021, Beijing Highlander Digital Technology Co, a China-based marine electronic technology products firm, and Guangzhou Shipyard International Co, a China-based shipbuilding enterprise, together introduced an underwater data center that involves the installation of internet facilities such as servers in airtight pressure vessels with the required cooling performance under the surface of the ocean. This underwater data center helps in reducing the amount of energy that is consumed and acts as a sustainable data center solution.
Key Benefits for Stakeholders:
• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
• Informed Decision-Making: The reports provide crucial data that support strategic decisions, reducing risks and enhancing business planning.
• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
• Tailored Solutions: The Business Research Company offers customized reports that address specific needs, ensuring stakeholders receive relevant and actionable insights.
• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.
Major Key Players of the Market:
AT&T Inc., China Telecom Corporation Limited, NTT Ltd., Fidelity National Information Services Inc., DuPont Fabros Technology Inc., Element Critical, Global Switch Limited, Equinix Inc., Iron Mountain Incorporated, Digital Realty Trust Inc., Rackspace Technology Inc., Zayo Group Holdings Inc., CyrusOne Inc., CoreSite Realty Corporation, Sungard AS, Cyxtera Technologies Inc., Switch Ltd., QTS Realty Trust Inc., EdgeConneX Inc., Aligned Energy LLC, Netrality Data Centers Inc., Evoque Data Center Solutions, 365 Data Centers, Stream Data Centers, Compass Datacenters LLC, ServerFarm LLC, Digital Fortress Inc., RagingWire Data Centers Inc., DataBank Inc., Sabey Data Centers LLC, Telecity Group plc, Verizon Communications Inc.
Data Center Colocation Market 2024 Key Insights:
• The data center colocation market size is expected to see rapid growth in the next few years. It will grow to $124.15 billion in 2028 at a compound annual growth rate (CAGR) of 14.9%.
• The Cost Efficiency Surge In Data Center Colocation Services
• The Impact Of Underwater Data Centers On Colocation Markets
• North America was the largest region in the data center colocation market in 2023
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Learn More About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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