Brexit concerns have not ‘deterred IT investment’
Written by Hannah McGrath
Nearly half (49 per cent) of IT decision makers in the UK believe that uncertainty surrounding the outcome of Brexit has not impacted their company’s decision to invest in IT infrastructure.
A survey of more than 2,450 global senior IT professionals for connectivity firm Equinix found that political uncertainty was not deterring companies from making longer-term decisions on digital transformation.
Almost of half (48 per cent) of respondents said that interconnection, or the ability to share data and information between global partners, is a key facilitator in their digital transformation process, a sentiment echoed by 40 per cent of decision-makers in EMEA and a third of IT decision makers in the UK, who cited interconnection as being ‘key to the survival of their business.’
Furthermore, strong data compliance regulations across Europe such as the General Data Protection Regulation (GDPR) are unlocking data exchange and the growth of interconnection bandwidth in sectors including healthcare and life sciences, government and education, business and professional services.
Such a move towards data protection is leading Europe (51 per cent) to overtake North America (46 per cent) in the race to digital growth.
In response to rapidly growing volumes of data, enterprise consumption of interconnection bandwidth will grow at a 64 per cent compound annual growth rate (CAGR) globally, the report forecasted, outpacing other forms of business data exchange.
By 2022, London alone will account for over a third (34 per cent) of European traffic, with leading European cities - Frankfurt, London, Amsterdam and Paris - together accounting for almost 78 per cent of European traffic.
According to the survey, a quarter of IT decision-makers in the UK are using interconnection to increase speed of connectivity. This compares to almost a third (31 per cent) in EMEA and over a third (34 per cent) globally.
Russell Poole, managing director for the UK at Equinix, said: “With Brexit looming, businesses in the UK are continuing to forge ahead with plans to invest in IT infrastructure, as new technologies - such as AI, IoT and the soon-to-be launched 5G network - promise a rapid increase in data being created, consumed and shared.”
He added that with 45 per cent of businesses in the UK prioritising moving their infrastructure to the digital edge as part of their organisation’s technology strategy, this would “facilitate interconnection between new and existing partners, and customers around the world”.