Dublin, Jan. 26, 2024 (GLOBE NEWSWIRE) -- The "Hong Kong Data Center Market Size & Share Analysis - Growth Trends & Forecasts (2023 - 2028)" report has been added to ResearchAndMarkets.com's offering.
The latest analysis of the Hong Kong Data Center Market has revealed an anticipated surge in market size, expecting a growth from USD 2.67 billion in 2023 to USD 5.28 billion by the end of 2028. With a projected CAGR of 14.60% during the forecast period, this notable expansion underscores the region as a key player in the Asia-Pacific data center landscape.
Recent investments have bolstered the provision for data centers in Hong Kong, attracting global investors thanks to the area's competitive tax policies, energy costs, robust connectivity, and favorable climatic conditions. The market's dynamism is characterized by the presence of top-tier cloud and hosting service providers establishing their operations, showcasing a dense infrastructure with 42 colocation facilities, 29 cloud nodes, 13 Internet exchanges (IX), and ten DRBC sites.
As a crucial international finance and trading hub, Hong Kong's demand for high-quality data storage and management services continues to witness significant growth. This is particularly influenced by the presence of numerous multinational corporations in the city and its strategic proximity to Mainland China. Furthermore, Hong Kong's ambitious adoption of 5G technology is poised to further stimulate demand for next-generation data center services and infrastructure upgrades.
In the wake of the challenging global atmosphere marked by the COVID-19 pandemic and geopolitical tensions, the Hong Kong data center market has demonstrated resilience with continuous activities and major transactions. This includes a notable lease by Digital Realty for a high computational data center facility, reflecting the sustained interest and confidence in the country's data center market.
The report delves into the various tiers of data centers, highlighting Tier 4 data centers' dominance in Hong Kong, with their capacity slated for significant growth. The report also sheds light on the growing demand for Tier 3 data centers, which is expected to rise alongside smart city developments.
Hong Kong's Data Center Ecosystem: Competitive and Evolving
The competitive landscape of Hong Kong's data center market shows a somewhat fragmented arena with several key players. While the market is led by a few major entities, the collective market share suggests a diverse competitive environment that supports innovation and growth across the industry.
- Comprehensive review of current market trends and growth drivers
- Insightful analysis of the market structure and competitive landscape
- Detailed examination of market segments, including Tier 3 and Tier 4 data centers
- Assessment of the market's resilience in light of external challenges
This analysis, equipped with a detailed market estimate sheet, provides stakeholders, industry leaders, and investors with critical insights necessary for strategic decision-making. It's worth noting that the market is expected to grow substantially, reinforcing Hong Kong's eminence in the data center domain regionally and globally.
The expansive growth forecasted for Hong Kong's data center market reveals not only its current significance but also its potential to shape the future of digital infrastructure in the Asia-Pacific region. The findings of this research highlight the strategic investments and robust development the local market is poised to harness over the coming years.
A selection of companies mentioned in this report includes
- AirTrunk Operating Pty Ltd.
- BDx Data Center Pte. Ltd.
- China Mobile International Ltd.
- Digital Realty Trust, Inc.
- Equinix, Inc.
- Global Switch Holdings Limited
- Hostdime
- NTT Ltd.
- Rackspace Technology Inc.
- SuneVision Holdings Ltd
- Vantage Data Centers, LLC
- Zenlayer Inc
For more information about this report visit https://www.researchandmarkets.com/r/haj3xz
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