Emerging from the pandemic, it’s clear the world of work is adapting to this digital environment, especially as hybrid becomes the new norm for most office workers. Roughly 55% of office workers globally are now working in a hybrid model. Moreover, there is unforeseen growth in personal usage of social media, online gaming and streaming applications. All these changes in the internet ecosystem demand more power capacities, innovative data storage solutions, and internet connectivity, adding to the ever-growing scale of data creation, mobility, and storage needs.
Enterprise organizations continue to invest in cloud infrastructure services, driving momentum within the data center development pipeline. Operators are forecasting their biggest year this year and at least for the next three years as demonstrated through preleasing activities on campuses that are not built yet. Macroeconomic challenges are likely to drive continued operational optimization at the enterprise level which will in turn drive cloud demand, further fueling data center growth