Equinix Invests US$51 Million Expanding Its Data Center in Hong Kongby Fintech News Hong Kong July 22, 2020
Equinix, the global interconnection and data center company, has completed the third phase expansion of HK4, one of its five International Business Exchange™ (IBX®) data centers in Hong Kong with an investment of US$51 million (approximately HK$364 million).
HK4 provides increased capacity for customers in Hong Kong with this expansion phase. With an additional 1,000 cabinets added to the facility, HK4 now has a total capacity of 1,500 cabinets and will further add 3,000 cabinets in future phases.
The acceleration in digital transformation continues to drive the demand for data centers and interconnection in Hong Kong. According to a recent market study published by Equinix that analyses traffic exchange globally, Hong Kong is expected to see the second fastest interconnection bandwidth growth in the region, increasing at 55% CAGR from 2018 to 2022.
In addition, a separate survey shows that 46% of IT decision-makers in Hong Kong believe interconnection is a key facilitator of digital transformation, with 45% of local IT decision-makers believing interconnection can help their business gain competitive advantage within the marketplace.
These data centers are business hubs for more than 550 companies. Customers can interconnect directly with other customers and partners in their digital supply chain and leverage direct connectivity to more than 80 networks, more than 145 cloud and IT service providers, and over 140 financial services companies.
Larry Tam, Managing Director, Equinix Hong Kong
“With more and more companies embracing digital transformation, we have seen demand for interconnection continue to grow. This is a trend that we expect to become more predominant with the rollout of 5G already started in the city. With our continued investment in growing our interconnected platform and robust ecosystems both locally and globally, we are here to support and speed up the digital growth of our customers.”