Data Center Colocation Market Forecast 2024-2033: Projected CAGR, Key Drivers, And Trends

Overview and Scope
Data center colocation refers to a physical location that provides room with sufficient power, cooling, and security to house servers and computer hardware for enterprises. Anything from cabinets to cages to private apartments are included in this capacity. Data center colocation is a method of renting actual office space, network or internet bandwidth, and other services from an existing data center to third parties to set up their own data center.

Sizing and Forecast
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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Segmentation & Regional Insights
The data center colocation market covered in this report is segmented –
1) By Type: Retail Colocation, Wholesale Colocation
2) By Enterprise Size: Large Enterprise, Small Scale Enterprise
3) By End-User: BFSI, IT And Telecom, Government And Defense, Healthcare, Other End Users

North America was the largest region in the data center colocation market in 2023. The regions covered in the data center colocation market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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Major Driver Impacting Market Growth
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.

Key Industry Players
Major companies operating in the data center colocation market report are 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.

The data center colocation market report table of contents includes:
1. Executive Summary
2. Data Center Colocation Market Characteristics
3. Data Center Colocation Market Trends And Strategies
4. Data Center Colocation Market - Macro Economic Scenario
5. Global Data Center Colocation Market Size and Growth
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32. Global Data Center Colocation Market Competitive Benchmarking
33. Global Data Center Colocation Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Data Center Colocation Market
35. Data Center Colocation Market Future Outlook and Potential Analysis
36. Appendix