Data centers are the hidden infrastructure underpinning all digital activities. Internet usage is almost universal, reaching 91% in North America, 87% in Europe and 73% in Asia Pacific, and mobile phone subscription and use rates are even higher at above 90% in most markets. The demand from smartphone-based applications has driven an appetite for more digital infrastructure from cloud service providers, hyperscalers and over-the-top media companies in all regions. The global colocation data center market size is forecast to grow with a five-year CAGR of 11.3% from 2021 to 2026, and the hyperscale market is expected to grow even faster, at approximately a 20% CAGR. 1