Colocation services market to triple by 2030
The global colocation services market is on track to grow nearly threefold to reach US$164.84 billion ($226.65bn) by 2030, according to Frost & Sullivan.
The market reached $51bn in 2020 and is expanding at a compound annual growth rate (CAGR) of 12.4%, the research firm said.
This strong growth is being driven by factors including the ongoing increase in data creation and consumption — as well as data traffic — fuelled by emerging technologies such as 5G and the IoT.
In the Asia–Pacific market, the majority of growth is expected to be driven by hyperscale cloud providers and content and digital media segments.
Frost & Sullivan Energy and Environment Research Director Gautham Gnanajothi added that the market is also changing due to the need for new infrastructure solutions due to the increased adoption of advanced processors and servers.
“Companies are moving toward these new technologies at a rapid pace. Several hyperscale providers are expected to adopt advanced processing technologies, necessitating advanced cooling and power solutions,” he said.
“Rapid adoption of hybrid cloud is increasingly becoming the key focus area in enterprise cloud strategies. Further, while hyperscale cloud providers lead the way in sustainability initiatives, colocation providers are following suit and focusing on sustainability.”
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