PUNE, India, January 13, 2016 /PRNewswire/ --
According to a new market research report, "Data Center Colocation Market by Service Types (Retail, Wholesale), Industry Verticals (Banking & Insurance, IT & Telecom, Healthcare, Government & Public, Energy), End Users (SMEs, Large Enterprises) & by Regions - Global Forecast to 2020", published by MarketsandMarkets, the Market is estimated to grow from USD 25.70 Billion in 2015 to USD 54.13 Billion by 2020, at a compound annual growth rate (CAGR) of 16.1%.
Browse 74 market Tables and 42 Figures spread through 143 Pages and in-depth TOC on "Data Center Colocation Market"
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Organizations are facing a major challenge of non-availability of strategic location for the data centers. This highlights the robust need for cloud hosting and virtualization to manage requirements of the organization for their data storage. With the increase in IT investment in the developing regions, such as Asia-Pacific (APAC) and Middle East and Africa (MEA), the market is expected to witness an upsurge.
Increasing adoption of cloud computing will drive the Data Center Colocation Market
The major forces driving the Data Center Colocation Market are increasing adoption of cloud computing, reduction in capital expenditure, and improvement of disaster recovery capabilities. Increasing penetration of cloud has introduced the concept of hybrid platform, including cloud and traditional colocation that eases the storage and management of organizations' data. Moreover, colocation services help organizations in cost optimization and in effectively managing their processes, such as disaster recovery and safe backup system.
Wholesale colocation market is expected to increase during the forecast period
Benefits of reduced power, cooling cost, and reduced total cost of ownership of large data facility are some of the benefits provided by the wholesale colocation, thereby, increasing its market growth during the forecast period. It also manages additional responsibilities for the management in terms of power needs, services, and support, which are increasing its popularity in the Data Center Colocation Market.
North America dominates the Data Center Colocation Market during the forecast period
The Data Center Colocation Market segments the global market on the basis of regions, which includes North America, APAC, Europe, MEA, and Latin America. North America is expected to hold the largest share of the Data Center Colocation Market during the forecast period due to technological advancements and increase in IT capacity requirement. APAC market is expected to grow at the highest CAGR between 2015 and 2020. The primary driving forces for this growth are organizations' migration toward cloud and overall increase in the data production.
The report also encompasses different strategies such as business expansion, contracts and agreements, acquisition, partnerships and collaborations, and product developments adopted by major players to increase their share in the market. Some of the major technology vendors include CenturyLink, Digital Reality, Equinix, NTT Communications, Verizon, AT&T, Level 3, Telecity Group, and Coresite.
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The scope of the report covers detailed information regarding the major factors influencing the growth of the Data Center Colocation Market, such as drivers, restraints, challenges, and opportunities. A detailed analysis of key industry players has been done to provide insights into their business overview, products and services, key strategies, business expansion, contracts and agreements, acquisition, partnerships & collaborations, and product developments, recent developments associated with the Data Center Colocation Market.
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