Equinix study reveals businesses in Ireland expanding digital infrastructure 26% faster than EMEA average

The latest Global Interconnection Index (GXI Vol. 5), an annual market study published by Equinix, reveals that the pandemic has forced Irish enterprises into digital overdrive. Businesses in Ireland are now compacting the time required to deploy their digital infrastructure to multiple regions, expand to multiple edge locations and integrate multiple clouds—what might have taken two years is now achievable within six months.

This accelerated pace of digital transformation is predicted to continue to fuel the rapid growth in interconnection bandwidth. According to the GXI Vol. 5, overall interconnection bandwidth – the measure of private connectivity for the transfer of data between organisations – is forecast to reach 143+ terabits per second (Tbps) per year in Ireland by 2024, representing a five-year compound annual growth rate (CAGR) of 58%. This growth is 26% faster than the EMEA average of 46% CAGR and is aligned with the increasing demand for the digital infrastructure needed to bring more businesses online, facilitate electronic integration with partners and supply chains, and reach more people in distributed hybrid work environments. 

The study also uncovered the Irish industries that are experiencing exceptional growth in interconnection bandwidth. Ireland will see the third-highest growth rate in EMEA for interconnection bandwidth consumption by the health & life sciences sector. When it comes to EMEA’s manufacturing and cloud & IT industries, Ireland will see the fifth-highest growth rate. The GXI Vol.5 found that worldwide, the manufacturing industry will witness the second-highest deployment of interconnection bandwidth, behind the financial services sector which will deploy more than 50%. 

The Public Sector, Healthcare & Life Sciences, Industrial Services and Transportation industries are expected to experience the fastest digital infrastructure growth, which is forecast to drive a 48% or more CAGR in interconnection bandwidth from 2020 to 2024 globally. These industries that were previously lagging in interconnection adoption are now leading in interconnection growth rate as a result of the pandemic. 

Furthermore, the GXI Vol.5 found that digital leaders are interconnecting with 10 times as many partners, enabling them to ride the wave of digital transformation and enjoy best-of-breed services from a vast pool of service providers and partners.

“Irish enterprises understand the fundamental role that sophisticated digital infrastructure plays in their overall growth plans,” said Maurice Mortell, Managing Director for Ireland, Equinix. “The pandemic has been significant in catalysing a digital movement in Ireland and we are seeing how high-growth industries – such as healthcare, manufacturing and IT – are ramping up their digital mastery to out-pace competition and become leaders in their respective fields.”

Industry Perspective on the Global Interconnection Index

Joachim Goyvaerts, Director, Benelux and Ireland, PayPal commented

“A pioneer in the digital payment industry, PayPal has evolved to become a trusted strategic partner to more than 400 million global users. Financial services need to move faster than ever and leverage a robust digital infrastructure to support their clients. Our comprehensive platform powers global commerce and provides exceptional payment experiences in a quick and convenient way, helping customers build a solid foundation for their services and growth.”

Kashif Abbas, General Manager Online, Smartbox Group added:

“As Europe’s leading retailer in unique gift experiences, Smartbox is a digital innovator bringing exceptional gifting solutions to 40,000 partners across 11 countries in Europe. Our highly flexible and scalable digital infrastructure has helped us to drive the digital transformation required to facilitate the rapid growth of our retail and e-commerce business. In 2020, we delivered over 6.5 million individual gift experiences ensuring our customers and their loved ones were able to create long lasting memories. Digital infrastructure is core to everything that we do and is essential for any business competing on a global level.”

See more stories here.