Global Data Center Interconnect Solutions Market 2019-2023 | 12% CAGR Projection over the Next Five Years | Technavio
LONDON--(BUSINESS WIRE)--May 22, 2019--
The global data center interconnect solutions market is expected to post a CAGR of more than 12% during the period 2019-2023, according to the latest market research report by Technavio.
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Technavio has published a new market research report on the global data center interconnect solutions market from 2019-2023. (Graphic: Business Wire)
A key factor driving the growth of the global data center interconnect solutions market is the increasing demand for connectivity. Urban population is growing at a significant rate, and urban areas have become major hubs for business activities, which is fueling rapid technological advancements and increased connectivity. This is resulting in increased demand for robust communication networks. As a result, several technology companies are focusing on expanding data centers to store and process heavy datasets. Moreover, communication service providers (CSPs) and colocation data center providers are increasing the number of data centers to meet the connectivity demands of their clients. Thus, the increasing demand for connectivity will fuel the need for data center interconnect solutions during the forecast period.
As per Technavio, the increasing number of metro data centers will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global data center interconnect solutions market 2019-2023 research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global data center interconnect solutions market: Increasing number of metro data centers
The number of data centers in metros has been increasing rapidly over the last few years to address high volumes of data traffic. This is resulting in the growing need for high-quality and low latency data transfers, which has led to an increase in the use of 5G networks. Further, machine-to-machine data transfer will also gain immense traction in the coming years. Also, with the advent of hybrid cloud solutions and multi-cloud environments, addressing the demand for bandwidth has become a key concern for enterprises. To address these challenges, vendors are offering various data center interconnect solutions that provide seamless connectivity between data centers in a metro. Thus, the growing number of metro data centers will significantly increase the demand for data center interconnect solutions during the forecast period.
“The increasing number of cyber-attacks across the world have pushed several governments to introduce new regulations on data protection. As data regulations include mandating enterprises to store sensitive information locally, enterprises are moving to private interconnections that allow them to directly connect with data centers without the use of the public Internet. Thus, the need for private interconnections will significantly impact market growth during the forecast period,” says a senior research analyst at Technavio.
Global data center interconnect solutions market: Segmentation analysis
This market research report segments the global data center interconnect solutions market by end-user (telecommunications; BFSI; cloud and IT services; content and digital media; and others) and geographic regions (North America, APAC, Europe, South America, and MEA)
The North American region led the market in 2018, followed by APAC, Europe, South America, and MEA, respectively. The data center interconnected solutions market in North America will continue to register stable growth during the forecast period, owing to factors such as the demand for high bandwidth from major industries and the significant investments being made in building data centers across North America.
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