Data center workloads have been increasingly shifting in recent years to colocation facilities as an alternative to the privately-owned data center. In fact, industry experts predicted back in 2018, the global market for data center colocation services to grow at a CAGR of 13.7% by 2020.
IT equipment needs a secure and modern data center in which to operate, but building a facility and maintaining the staff and hardware can be extraordinarily expensive. This is where colocation (colo) comes in. Colo refers to the sharing of third-party space in a multi-tenant data center (MTDC) in which an organization manages their own IT equipment in a facility that is operated and managed by a colocation services provider.
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Studies report 80% of the entire IaaS market is served by AWS (Amazon Web Services), GCP (Google Cloud Platform), IBM Bluemix, and Microsoft Azure.