Beginning in the early 2000s, companies began to realize the crucial need for reliable data storage. The daily amount of data needed increased to the point it could no longer be stored on just personal computers. Colocation emerged as a secure outsourcing solution for businesses to keep their information.
Utilizing colocation centers saves businesses from the hefty cost of building their own data center space, which was previously thought to be unavoidable. Colocation also allows for a quicker data retrieval process, cutting costs and allowing businesses to operate efficiently on a day-to-day basis.
As the amount of data and the demand for reliable storage continuously increases, the colocation market is expected to almost double in the coming years, to a value of more than $30 billion by 2020. So, what does the future of colocation look like?
Stepping up the Competition
In any industry, when more people demand a service, there becomes an important need for businesses to set themselves apart from the competition. As more companies search for secure places to store large amounts of data, the colocation market will see an increase in competition for outside business. This competition will spark innovative ideas as centers strive to diversify themselves to attract new business, developing higher security measures or advantages in quicker data retrieval.
The U.S. leads the world in available colocation space, but countries in Europe and Asia are quickly catching on to the advantages of colocation to solve their data storage needs as well. Not only is colocation spreading geographically, it is spreading industrially as well. As the world becomes increasingly more digital, many sectors, like the healthcare industry for example, recognize the need for appropriate data storage and will seek out the benefits of colocation.
For more information on colocation and how it can be utilized best for the future of your business, please contact our team today.