As one year ends and another begins, it is traditionally the time for research and data-oriented business predictions to be made.  As 2022 turned into 2023, it was no different, and certain consensuses emerged.  Financial markets and industry sectors will continue to see ups and downs, but one expectation is universal among analysts, with the way we live our lives application growth continues to fuel exponential data center and cloud growth. 

New forecasts from analysts differ on numbers but agree that our increasing use of applications and their generation of data will continue unabated for the foreseeable future. 

Analyst firm Market Research Future projects the cloud infrastructure services market size to expand at a compound annual growth rate (CAGR) of 17.63% and reach $447 billion by 2030.  The market segment they analyze include public, private, and hybrid infrastructure deployments. 

ResearchAndMarkets.com forecast the cloud computing market size will grow from $552 billion in 2021 to $1.119 trillion by 2026 at a CAGR of 15.2%.

All this growth portends further need for disaster recovery and business continuity services, and Technavio projects that the global cloud backup and recovery market will grow by $20.73 billion from 2022 to 2027 at a CAGR of 18.43%.

Interestingly, all three of these studies forecast that North America will continue to be the dominant market for these services.   

Of course, these public cloud, private cloud, and enterprise IT infrastructure deployments all take place in data centers, fueling the continuing need for secure, highly connected, redundant data center services.

We see similar projections in talking to the data center customers of Direct LTx.  Not all of their business applications are growing at the 15-18% rate in the above projections (though some are), but their business world continues to be more and more online.  The new services they offer are consumed online, or they are moving more of their existing services online.   Even manufacturing processes continue to be more dependent on software and online services.   

Economic growth now occurs online, and the online services required to meet business needs continue to evolve.   As 2023 begins, Direct LTx will continue to be here offering data center colocation, disaster recovery and business solutions, fiber rich connectivity access, hybrid cloud solutions, and public cloud onramps for Pennsylvania enterprises benefiting from and fueling the growth of the IT infrastructure services sector.