Australia Data Center Colocation Market Forecast to 2028 - COVID-19 Impact and Country Analysis By Type (Retail and Wholesale), Enterprise Size (Small and Medium Sized Enterprises and Large Enterprises), and Industry (IT and Telecom, BFSI, Healthcare, Ret

Australia Data Center Colocation Market Forecast to 2028 - COVID-19 Impact and Country Analysis By Type (Retail and Wholesale), Enterprise Size (Small and Medium Sized Enterprises and Large Enterprises), and Industry (IT and Telecom, BFSI, Healthcare, Retail, and Others)

The Australia data center colocation market is projected to grow from US$ 3,094.62 million in 2022 to US$ 7,885.00 million by 2028; it is expected to record a CAGR of 17.2% from 2023 to 2028.

Growing need to reduce overall IT costs and increasing adoption of technologies such as IoT and Cloud are driving the Australia data center colocation market growth. Further, the advent of 5G is expected to provide lucrative opportunities for Australia data center colocation market growth during the forecast period. Hybrid clouds in colocation data centers and rise in inclination toward green data centers are expected to be significant trends in the Australia data center colocation market during 2022–2028.

Based on industry, the Australia data center colocation market is segmented into IT & telecom, BFSI, healthcare, retail, and others. The IT & telecom segment dominated the Australia data center colocation market in 2022. The increasing amount of data is catalyzing the demand for data center colocation in the IT & telecom industry. The IT industry constantly develops new software to enable businesses to adopt digital solutions for seamless operations. Similarly, telecommunication service providers are experiencing a huge amount of data generation due to the rise in mobile phone internet access, which is fueling the need to adopt third-party services for the rising data management and storage. In addition, the increasing adoption of smartphones, laptops, tablets, and other gadgets for transferring data has created a need for additional data storage capacity. According to Australian Communications and Media Authority (ACMA), during the COVID-19 pandemic, communication via communication apps gained popularity in Australia, resulting in increased data volume. Thus, all the above factors influenced the demand for data center colocation solutions in the IT & Telecom industry.

Shift toward digitalization, rise in adoption of cloud-related services, and increase in adoption of analytics in the BFSI industry are contributing to the need to store and manage a large amount of data, thereby driving the adoption of data center colocation in the BFSI industry. With consumers moving online, retail banks are increasing their investments in digitizing their operations to adapt to the online environment. The trend has already started from filling out online forms to delivering statements in a digital format. This will require the banks to process and store a large amount of data, making them prone to seek data center services. Cloud service providers are also catering to finance firms' needs, particularly in the area of security. SEC and investors are aggressively pushing for a secure environment while ensuring 24*7 access to data to employers. By leveraging the power of advanced analytical tools and capabilities, banks are gaining significant returns, enhancing productivity, and lowering risk-associated costs. Storing and processing a large amount of consumer data requires banks to seek the service of reliable data center service providers, which is contributing to the demand for data center colocation.

The Australia data center colocation market is segmented based on type, enterprise size, and industry. Based on type, the Australia data center colocation market is segmented into retail and wholesale. Based on enterprise size, the Australia data center colocation market is bifurcated into SMEs and large enterprises. Based on industry, the Australia data center colocation market is segmented into IT & telecom, BFSI, healthcare, retail, and others.

Equinix, Inc.; Macquarie Telecom Group Ltd; Digital Realty Trust Inc; Keppel Data Centres Pte Ltd; Servers Australia Pty Ltd; Zenlayer Inc; Global Switch Ltd; Rackspace Technology Inc; NEXTDC Ltd; and Fujitsu Australia Ltd are key market players operating in the Australia data center colocation market and profiled in this market study.

The overall Australia data center colocation market size has been derived using both primary and secondary sources. Exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the Australia data center colocation market. The process also helps obtain an overview and forecast of the market with respect to all the market segments. Also, multiple primary interviews have been conducted with industry participants to validate the data and gain analytical insights. This process includes industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the Australia data center colocation market.

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