LONDON--(BUSINESS WIRE)--Technavio analysts forecast the colocation and managed hosting services market in North America to post a CAGR of over 14% during the period 2018-2022, according to their latest market research report. However, the growth momentum of the market is expected to decelerate due to the decrease in the year-over-year growth.
The increasing focus on data center consolidation is one of the major trends being witnessed in the colocation and managed hosting services market in North America. Data center consolidation is driven by the need for companies to reduce the size of a facility or even merge several facilities. The major reason for this is the reduction of operating costs. Various software companies are moving toward the adoption of a common cloud platform, which will reduce the need for individual data centers. These companies have announced plants to utilize a public cloud for software deployment.
This report is available at a USD 1,000 discount for a limited time only: View market snapshot before purchasing
In this report, Technavio analysts highlight the increase in adoption of cloud-based storage services as a key factor contributing to the growth of the colocation and managed hosting services market in North America:
Colocation and managed hosting services market in North America: Increase in adoption of cloud-based storage services
The use of cloud-based storage services is growing rapidly across enterprises, where data can be stored in a cloud-based system and be used to derive optimal insights. Several computing resources are offered to users without the need for hardware; users can save text, files, or images on a cloud-based platform. These cloud computing services charge a nominal subscription fee, and allow users to access computing resources anytime, and at any location, without the need for supporting hardware.
According to a senior analyst at Technavio for research on cloud computing, “Cloud computing operates through the infrastructure provided by a data center. The major cloud service providers in North America allow users to upload and store content, and provide 1TB and up to 30TB storage capacity, respectively.”
Looking for more information on this market? Request a free sample report
Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market sizing
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
If you are interested in more information, please contact our media team at email@example.com.