You may have noticed a large figure circulating round the UK’s data centre industry grape vine, if not, you’ll now quickly learn than the industry has been and is set to be on the rise. At current, the UK’s data centre economy is estimated to be worth a staggering £73bn, with projections set for it to reach up to £100bn by 2025.
But what elements are behind this expected increase? To cut it short, we are consuming way more data, we need more storage for it... and better ways to understand it.
As we’ve already touched upon several times before, the volume of data has increased tenfold and is set to continue to rise with the constant developments in technology. The UK has set itself some high standards to become the lead of innovative business practice, which fully encompasses the data centre economy.
Investment, Investment, Investment –
The UK is never behind in making sure they are up to date with the latest trends, especially within the realm of technology. As a result, the UK over time has become more attuned in their understanding in the need to adapt to the times, and according to Data Economy, is set to see between a 5-11% increase in investment into data infrastructure and tools to capitalise on the growth of industry, identify new markets and create new revenue streams.
With this large increase in investment, the UK can expect to see new and significant pathways to explore within the realm of data, with intent to unlock a new door that will lead to innovation within data – a goal in which the UK has set quite openly for itself.
Employment Opportunities –
As the industry grows, employment opportunities are set to grow with them. With the masses of funding into new infrastructure, technology and market spend, unprecedented space for employment is likely to follow. Computer Weekly suggest that the government should look to quickly incentivise the industry as a “career destination for young people”, with suggestions to “enhance the quality” of teaching in mathematics, statistics and computer science to make sure the future generation is prepared for change.
However, they also suggest that the current generation of industry should be no stranger to professional development, further suggesting that industry leaders should look to invest their time into providing their workforce with regular training that is in sync with the future of industry.
The Unknowing –
As the industry is set to grow at an unparalleled rate, it becomes hard to accurately depict the long-term outcomes. However, there is a strong certainty within industry that there are no signs of slowing down. Because of unpredictability, the industry is bound to invest, regardless of predictions. Although it is difficult to accurately measure the industry’s predicted growth, there is undying confidence that it will grow as data is set to grows, ultimately resulting in preparing… to be prepared.
Ultimately, the UK is a promising prospect for the future of data. As funding is poured into the ever-growing data economy, we should expect to see some significant developments and innovations within industry as time progresses.
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