DENVER--(BUSINESS WIRE)--CoreSite Realty Corporation (NYSE:COR) (“CoreSite,” or the “Company”), a premier provider of secure, high-uptime data center campuses with high-performance cloud access and interconnection solutions across the U.S., today released its 2021 State of the Data Center Report in partnership with IDG Communications. This annual report examines the latest data center trends, strategies, requirements, and other findings from an annual quantitative survey and in-depth interviews with senior IT decision makers.
“As businesses continue to empower remote workers and fortify their digital footprints in response to pandemic-induced changes, colocation has emerged as an essential pillar in a successful hybrid IT strategy,” said John Gallant, Enterprise Consulting Director at IDG Communications, Inc. “The 2021 survey findings demonstrate that a diverse multi-cloud hybrid IT architecture can fuel transformation, foster resiliency and achieve important business outcomes.”
Findings within the report include:
- Increased security and flexibility/scalability were reported as top two primary reasons to migrate workloads to colocation solution
- Thirty-five percent surveyed say that colocation lowers operational costs and improves TCO
- Almost half (46%) of respondents say their companies are gravitating to an operating expense model for IT spending
- Ninety-three out of 100 IT leaders say they are confident their colocation partners can enable future transformation initiatives
- Ninety percent of respondents say interconnection to cloud providers is critical or important
One survey respondent, a senior director of a SaaS provider, stated “I don’t want to build my own data center – our competency is designing, engineering and maintaining software. I don’t want to get into the business of peering with carriers. Those are things that a colocation business provides.”
“The findings in this year’s State of the Data Center Report reflect what we are hearing from our customers and prospects,” said Steven Smith, Chief Revenue Officer at CoreSite. “Colocation enables enterprises to save up to 60% on cloud connectivity, compared to telecommunications or software-defined network offerings, and roughly 70% for data replication expenses. Eliminating egress charges when restoring data from certain cloud availability zones is an example of how colocation can improve TCO for the enterprise.”
Download The State of the Data Center Report to learn the best practices needed to form a successful IT strategy and key considerations for evaluating a colocation partner.
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About CoreSite
CoreSite Realty Corporation (NYSE:COR) delivers secure, high-uptime data center campuses with high-performance cloud access and interconnection solutions to a growing customer ecosystem across eight key North American markets. More than 1,375 of the world’s leading enterprises, network operators, cloud providers, and supporting service providers choose CoreSite to connect, protect and optimize their performance-sensitive data, applications and computing workloads. Our scalable, flexible solutions and 475+ dedicated employees consistently deliver unmatched data center options — all of which leads to a best-in-class customer experience and lasting relationships. For more information, visit www.CoreSite.com.
Forward Looking Statements
This press release may contain forward-looking statements within the meaning of the federal securities laws. Forward-looking statements relate to expectations, beliefs, projections, future plans and strategies, anticipated events or trends and similar expressions concerning matters that are not historical facts. In some cases, you can identify forward-looking statements by the use of forward-looking terminology such as “believes,” “expects,” “may,” “will,” “should,” “seeks,” “approximately,” “intends,” “plans,” “pro forma,” “estimates” or “anticipates” or the negative of these words and phrases or similar words or phrases that are predictions of or indicate future events or trends and that do not relate solely to historical matters. Forward-looking statements involve known and unknown risks, uncertainties, assumptions and contingencies, many of which are beyond CoreSite’s control that may cause actual results to differ significantly from those expressed in any forward-looking statement. These risks include, without limitation: the geographic concentration of the Company’s data centers in certain markets and any adverse developments in local economic conditions or the level of supply of or demand for data center space in these markets; fluctuations in interest rates and increased operating costs; difficulties in identifying properties to acquire and completing acquisitions; significant industry competition, including indirect competition from cloud service providers; failure to obtain necessary outside financing; the ability to service existing debt; the failure to qualify or maintain its status as a REIT; financial market fluctuations; changes in real estate and zoning laws and increases in real property tax rates; the effects on our business operations, demand for our services and general economic conditions resulting from the spread of the Novel Coronavirus (“COVID-19”) in our markets, as well as orders, directives and legislative action by local, state and federal governments in response to such spread of COVID-19; and other factors affecting the real estate industry generally. All forward-looking statements reflect the Company’s good faith beliefs, assumptions and expectations, but they are not guarantees of future performance. Furthermore, the Company disclaims any obligation to publicly update or revise any forward-looking statement to reflect changes in underlying assumptions or factors, of new information, data or methods, future events or other changes. For a further discussion of these and other factors that could cause the Company’s future results to differ materially from any forward-looking statements, see the section entitled “Risk Factors” in its most recent annual report on Form 10-K, and other risks described in documents subsequently filed by the Company from time to time with the Securities and Exchange Commission.
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