(The Hosting News) – According to a new report published by Allied Market Research titled, “World Colocation – Market Opportunities and Forecasts, 2014 – 2020”, the global colocation market is expected to reach $51.8 billion by 2020, registering a CAGR of 12.4% during 2015 – 2020. Global colocation market for energy sector would exhibit highest CAGR of 14.3% during the forecast period.
North America has emerged as the most promising region, exhibiting a huge demand for colocation by adoption in the sectors of banking, telecom and IT sector in order to manage their dedicated data servers. In 2014, the market for colocation in North Americawas valued at $11,779.9 million and would continue to consolidate its market position during the period 2015-2020. Key factors such as shrinking IT budgets and the high cost associated with the development of dedicated data centers would largely drive the market by 2020.