As per a report by P&S Intelligence, it was stated that the total size of the U.K. data center market was USD 7,711 million in 2022, and it will power at a rate of 3.06% in the years to come, to touch USD 13,270 million by 2040.
The rapid acceptance of cloud-based solutions, surge in the access to 5G network connectivity, and huge data volumes being generated will power the growth of the industry. These premises chiefly include a server network, wherein enormous digital info can be stored, managed, and conveyed
Cloud-based solutions and services bid numerous benefits to big as well as small companies, for example ample storage, data security, cost and energy savings, and access to numerous computing resources affordably.
As per a government agency, the U.K. is a major market for cloud solutions and services in Europe, with revenue from public cloud services of over USD 10 billion in 2022.
Furthermore, some industry experts are of the opinion that, companies that have accepted cloud solutions have reported a substantial increase in efficiency, along with the modernization of their IT infra.
The increasing volume of digital info is helping companies grow and make improved decisions, as they are leveraging it for the analysis of historical patterns and make future decisions consequently. Businesses stock, develop, and make use of data for improving their products and services, uphold customer relations, and surge profitability.
Industry experts are of the opinion that most of the companies with over 10 employees collect some digitized data, and the larger ones use it for refining their marketing; the digital info is transferred internationally also. Hence, the growth in generation of data will power the demand of companies for facilities for storing it safely in the U.K.
IT & telecom will dominate the U.K. data center market in the years to come.
The key reason for this is the incessant deployment of cutting-edge software and applications in the IT service sector and the establishment of more than a few startups in the country.
In the meantime, the telecom industry has observed a surge in the number of mobile internet users, which has formed an enormous demand for data storage in the recent past. The advent of 5G and IoT will power the growth in the IT & telecom sector, thus creating considerable data volumes and, in turn, propelling the industry in the future.
It has a lot to do with the acceptance of cloud-based solutions in the U.K., the demand for data center in the country will continue to grow in the years to come.
