As a financial, international trade and logistics hub in the Asia-Pacific region, Hong Kong’s major multinational companies have set up about 4,000 regional headquarters and offices in Hong Kong. This opens up , bringing huge international data streams.
“Big data has opened a major era of transformation. Just like telescopes allow us to feel the universe and microscopes allow us to observe microorganisms, big data is changing our lives and the way we understand the world.” Victor Meyer Schönber Ge wrote in the “Big Data Era”.
Smart phones and the Internet have spawned massive amounts of data, which are not only ubiquitous, but also increasing in value. In the face of the severe global pandemic of the new crown epidemic, the role and value of data centers have become more prominent.
Hong Kong’s Surge in tech adoption
As a financial, international trade and logistics hub in the Asia-Pacific region, Hong Kong, China, and major multinational corporations around the world have set up about 4,000 regional headquarters and offices in Hong Kong, bringing huge international data streams. According to a report released by DTZ in June this year, Hong Kong has risen to the third place among the most attractive data center locations in the Asia-Pacific region this year, closely following Sydney and Singapore.
As of the first quarter of 2021, the total stock of data centers in Hong Kong reached 8.38 million square feet. In terms of area, nearly 80 per cent of them are owned by ten data center operators. It is understood that the current Hong Kong data center users are mainly financial institutions, banks, insurance companies, and telecommunications companies.
However, with the increasing popularity of Internet of Things (IoT), 5G networks, and cloud computing applications, and working from home during the COVID-19 period has become the new normal , the market demand for cloud computing and storage services is rising rapidly, and future data center demand will be dominated by large cloud service operators.
In recent years, the Hong Kong government has spared no effort to promote the development of innovation and technology, and several unicorn companies have emerged. The atmosphere for technological entrepreneurship in Hong Kong has been significantly improved.
Want to know more about current hot topics in the industry? The 2nd edition of SEA Digital Week is back next month! This time, with a huge focus on Cloud and Datacenters key trends and technology in Singapore, Indonesia, Malaysia, Vietnam, Thailand and the Philippines.