SynerTech Cloud Expand to Meet Cloud Adoption Demand in Europe
$2.3 trillion IDC predicts that worldwide spend on all the technologies and services that enable digital transformation, including cloud, is projected to reach $2.3 trillion by 2023.
We’ve all read about the exponential growth in cloud computing in recent years, and nowhere is that more evident than Europe today. In an independent study commissioned by Equinix of over 1,200 senior IT professionals across Europe, Middle East and Africa (EMEA), more than seven in ten (71%) said they were likely to move more of their business functions to the cloud in the coming years.[i] And IDC predicts that European enterprise spends on hybrid cloud data services will reach nearly $65 billion through 2022 as a result of digital transformation.[ii]
Given this bright outlook, Equinix is delighted to be sponsoring Google Next ’19 London this week for our third consecutive year. We will be showcasing developments in our partnership since Next San Francisco in April, including the integration of our Key Management as a Service (KMS) with Google Cloud, as well as Network Edge, our new virtual network services platform.
European enterprise interconnection to Cloud & IT Providers is expected to grow by 116% annually between 2018 and 2022 according to the Global Interconnection Index (GXI) Volume 3, a study published by Equinix.
Digital transformation spurring cloud expansion in Europe
Cloud is a key enabling technology for digital transformation and European spend on digital transformation is expected to remain healthy. IDC predicts that worldwide spend on all the technologies and services that enable digital transformation, including cloud, is projected to reach $2.3 trillion by 2023. Western Europe will be the second-largest market, after the United States in 2019, followed closely by China, which is expected to move into the number two spot by the end of the forecast.[iii] Even more, telling is the current state of cloud adoption – in 2018, over half (56%) of large enterprises in the European Union (EU) used cloud computing according to Eurostat. And a significant number of European enterprises used advanced cloud services to run financial, customer relationship and business applications.[iv] So it’s no surprise that European enterprise interconnection to Cloud & IT Providers is expected to grow by 116% annually between 2018 and 2022.
These expansions underscore our commitment to the European region as a thriving hub for digital business. Since we first invested in Europe in 2007, we have continued to add new reach and capabilities to Platform Equinix® across Europe. In June we announced the launch of Network Edge, which is currently available in Europe in our London, Amsterdam, and Frankfurt locations with more to come next year. Network Edge is a set of virtualized network services sitting inside Equinix you can turn up in minutes without any deployment of physical assets. This is ideal for businesses looking to access the Equinix ecosystem of service providers, carriers and enterprises with faster time to market or for those who want to enter new markets quickly without needing to manage physical infrastructure.