Artificial Intelligence
FortiGuard Labs Reports Disruptive Shift of Cyber Threats
SUNNYVALE, Calif., Feb. 24, 2021 (GLOBE NEWSWIRE) —
Derek Manky, Chief, Security Insights & Global Threat Alliances, FortiGuard Labs
“2020 witnessed a dramatic cyber threat landscape from beginning to end. Although the pandemic played a central role, as the year progressed cyber adversaries evolved attacks with increasingly disruptive outcomes. They maximized the expanded digital attack surface beyond the core network, to target remote work or learning, and the digital supply chain. Cybersecurity risk has never been greater as everything is interconnected in a larger digital environment. Integrated and AI-driven platform approaches, powered by actionable threat intelligence, are vital to defend across all edges and to identify and remediate threats organizations face today in real time.”
News Summary:
Fortinet® (NASDAQ: FTNT), a global leader in broad, integrated, and automated cybersecurity solutions, today announced the findings of the latest semiannual FortiGuard Labs Global Threat Landscape Report. Threat intelligence from the second half of 2020 demonstrates an unprecedented cyber threat landscape where cyber adversaries maximized the constantly expanding attack surface to scale threat efforts around the world. Adversaries proved to be highly adaptable, creating waves of disruptive and sophisticated attacks. They targeted the abundance of remote workers or learners outside the traditional network, but also showed renewed agility in attempts to target digital supply chains and even the core network. For a detailed view of the report, as well as some important takeaways, read the blog. Highlights of the 2H 2020 report follow:
- Onslaught of Ransomware Continues: FortiGuard Labs data shows a sevenfold increase in overall ransomware activity compared to 1H 2020, with multiple trends responsible for the increase in activity. The evolution of Ransomware-as-a-Service (RaaS), a focus on big ransoms for big targets, and the threat of disclosing stolen data if demands were not met combined to create conditions for this massive growth. In addition, with varying degrees of prevalence, the most active of the ransomware strains tracked were Egregor, Ryuk, Conti, Thanos, Ragnar, WastedLocker, Phobos/EKING and BazarLoader. Sectors that were heavily targeted in ransomware attacks included healthcare, professional services firms, consumer services companies, public sector organizations, and financial services firms. To effectively deal with the evolving risk of ransomware, organizations will need to ensure data backups are timely, complete, and secure off-site. Zero-trust access and segmentation strategies should also be investigated to minimize risk.
- Supply Chain Takes Center Stage: Supply chain attacks have a long history, but the SolarWinds breach raised the discussion to new heights. As the attack unfolded, a significant amount of information was shared by affected organizations. FortiGuard Labs monitored this emerging intelligence closely, using it to create IoCs to detect related activity. Detections of communications with internet infrastructure associated with SUNBURST during December 2020 demonstrates that the campaign was truly global in nature, with the “Five Eyes” exhibiting particularly high rates of traffic matching malicious IoCs. There is also evidence of possible spillover targets that emphasizes the interconnected scope of modern supply chain attacks and the importance of supply chain risk management.
- Adversaries Target Your Online Moves: Examining the most prevalent malware categories reveals the most popular techniques cybercriminals use to establish a foothold within organizations. The top attack target was Microsoft platforms, leveraging the documents most people use and consume during a typical workday. Web browsers continued to be another battlefront. This HTML category included malware-laden phishing sites and scripts that inject code or redirect users to malicious sites. These types of threats inevitably rise during times of global issues or periods of heavy online commerce. Employees who typically benefit from web-filtering services when browsing from the corporate network continue to find themselves more exposed when doing so outside that protective filter.
- The Home Branch Office Remains a Target: The barriers between home and office eroded significantly in 2020, meaning that targeting the home puts adversaries one step closer to the corporate network. In the second half of 2020, exploits targeting Internet of Things (IoT) devices, such as those existing in many homes, were at the top of the list. Each IoT device introduces a new network “edge” that needs to be defended and requires security monitoring and enforcement at every device.
- Cast of Actors Joins Global Stage: Advanced Persistent Threat (APT) groups continue to exploit the COVID-19 pandemic in a variety of ways. The most common among them included attacks focused on gathering personal information in bulk, stealing intellectual property, and nabbing intelligence aligned with the APT group’s national priorities. As the end of 2020 neared, there was an increase in APT activity targeting organizations involved in COVID-19-related work including vaccine research and development of domestic or international healthcare policies around the pandemic. Targeted organizations included government agencies, pharmaceutical firms, universities, and medical research firms.
- Flattening the Curve of Vulnerability Exploits: Patching and remediation are ongoing priorities for organizations as cyber adversaries continue to attempt to exploit vulnerabilities for their benefit. By tracking the progression of 1,500 exploits in the wild over the last two years, data demonstrates how fast and how far exploits propagate. Even though it is not always the case, it seems that most exploits do not seem to spread far very fast. Among all exploits tracked over the last two years, only 5% were detected by more than 10% of organizations. With all things being equal, if a vulnerability is picked at random, data shows there is about a 1-in-1,000 chance that an organization will be attacked. About 6% of exploits hit more than 1% of firms within the first month, and even after one year, 91% of exploits have not crossed that 1% threshold. Regardless, it remains prudent to focus remediation efforts on vulnerabilities with known exploits, and among those, prioritize the ones propagating most quickly in the wild.
Fighting Cyber Adversaries Requires an Integrated Strategy and Broad Awareness
Organizations face a threat landscape with attacks on all fronts. Threat intelligence remains central to understanding these threats and how to defend against evolving threat vectors. Visibility is also critical, particularly when a significant amount of users are outside the typical network scenario. Every device creates a new network edge that must be monitored and secured. The use of artificial intelligence (AI) and automated threat detection can enable organizations to address attacks immediately, not later, and are necessary to mitigate attacks at speed and scale across all edges. Cybersecurity user awareness training should also remain a priority as cyber hygiene is not just the domain of IT and security teams. Everyone needs regular training and instruction on best practices to keep individual employees and the organization secure.
Report Overview
This latest Global Threat Landscape Report is a view representing the collective intelligence of FortiGuard Labs, drawn from Fortinet’s vast array of sensors collecting billions of threat events observed around the world during the second half of 2020. Similar to how the MITRE ATT&CK framework classifies adversary tactics and techniques, with the first three groupings spanning reconnaissance, resource development, and initial access, the FortiGuard Labs Global Threat Landscape Report leverages this model to describe how threat actors find vulnerabilities, build malicious infrastructure, and exploit their targets. The report also covers global and regional perspectives as well.
Additional Resources
About FortiGuard Labs
FortiGuard Labs is the threat intelligence and research organization at Fortinet. Its mission is to provide Fortinet customers with the industry’s best threat intelligence designed to protect them from malicious activity and sophisticated cyberattacks. It is comprised of some of the industry’s most knowledgeable threat hunters, researchers, analysts, engineers and data scientists in the industry, working in dedicated threat research labs all around the world. FortiGuard Labs continuously monitors the worldwide attack surface using millions of network sensors and hundreds of intelligence-sharing partners. It analyzes and processes this information using artificial intelligence (AI) and other innovative technology to mine that data for new threats. These efforts result in timely, actionable threat intelligence in the form of Fortinet security product updates, proactive threat research to help our customers better understand the threats and threat actors they face, and by providing threat intelligence consulting services to help our customers better understand and defend their threat landscape. Learn more at http://www.fortinet.com, the Fortinet Blog, or FortiGuard Labs.
About Fortinet
Fortinet (NASDAQ: FTNT) secures the largest enterprise, service provider, and government organizations around the world. Fortinet empowers our customers with complete visibility and control across the expanding attack surface and the power to take on ever-increasing performance requirements today and into the future. Only the Fortinet Security Fabric platform can address the most critical security challenges and protect data across the entire digital infrastructure, whether in networked, application, multi-cloud or edge environments. Fortinet ranks #1 in the most security appliances shipped worldwide and more than 500,000 customers trust Fortinet to protect their businesses. Both a technology company and a learning organization, Fortinet’s (NSE) Training Institute has one of the largest and broadest cybersecurity training programs in the industry. Learn more at http://www.fortinet.com, the Fortinet Blog, or FortiGuard Labs.
FTNT-O
Copyright © 2021 Fortinet, Inc. All rights reserved. The symbols ® and ™ denote respectively federally registered trademarks and common law trademarks of Fortinet, Inc., its subsidiaries and affiliates. Fortinet’s trademarks include, but are not limited to, the following: Fortinet, FortiGate, FortiGuard, FortiCare, FortiManager, FortiAnalyzer, FortiOS, FortiADC, FortiAP, FortiAppMonitor, FortiASIC, FortiAuthenticator, FortiBridge, FortiCache, FortiCamera, FortiCASB, FortiClient, FortiCloud, FortiConnect, FortiController, FortiConverter, FortiDB, FortiDDoS, FortiExplorer, FortiExtender, FortiFone, FortiCarrier, FortiHypervisor, FortiIsolator, FortiMail, FortiMonitor, FortiNAC, FortiPlanner, FortiPortal, FortiPresence , FortiProxy, FortiRecorder, FortiSandbox, FortiSIEM, FortiSwitch, FortiTester, FortiToken, FortiVoice, FortiWAN, FortiWeb, FortiWiFi, FortiWLC, FortiWLCOS and FortiWLM.
Other trademarks belong to their respective owners. Fortinet has not independently verified statements or certifications herein attributed to third parties and Fortinet does not independently endorse such statements. Notwithstanding anything to the contrary herein, nothing herein constitutes a warranty, guarantee, contract, binding specification or other binding commitment by Fortinet or any indication of intent related to a binding commitment, and performance and other specification information herein may be unique to certain environments. This news release may contain forward-looking statements that involve uncertainties and assumptions, such as statements regarding technology releases among others. Changes of circumstances, product release delays, or other risks as stated in our filings with the Securities and Exchange Commission, located at www.sec.gov, may cause results to differ materially from those expressed or implied in this press release. If the uncertainties materialize or the assumptions prove incorrect, results may differ materially from those expressed or implied by such forward-looking statements and assumptions. All statements other than statements of historical fact are statements that could be deemed forward-looking statements. Fortinet assumes no obligation to update any forward-looking statements, and expressly disclaims any obligation to update these forward-looking statements.
Artificial Intelligence
Cayman Enterprise City Publishes Socio-Economic Impact Assessment by Economist and Leading Advisor on the Caribbean, Marla Dukharan
The Impact of Cayman Enterprise City’s Socio-Economic Development Project Nears USD $1 Billion
GRAND CAYMAN, Cayman Islands, May 16, 2024 /PRNewswire/ — Cayman Enterprise City (CEC) has released a Socio-Economic Impact Assessment by Marla Dukharan. The report illustrates that CEC is increasing its impact by supporting higher earnings for Caymanians and is driving a shift towards a knowledge-based economy by focusing on high productivity sectors. The release by Dukharan reads, “Caymanian resourcefulness and private sector-led innovation have been the driving force behind the islands’ outstanding socio-economic success. Cayman Enterprise City underpins the next generation of Cayman innovation and dynamism.”
With an economic impact of USD $130 million in 2023, contributing just under USD $1 billion to the local economic activity in 12 years since inception, “CEC is helping the nation to diversify economically, in terms of sectors and jobs, ensuring locals have economic and employment opportunities that match the nation’s progress,” the report reads.
The CEC socio-economic development project is now home to 352 Special Economic Zones Companies (SEZCos), many of which are globally recognised institutions led by top executives and industry experts. “CEC member companies are providing high-value employment with salaries exceeding those typically found outside of the special economic zone,” said Charlie Kirkconnell, Chief Executive Officer at CEC. “The CEC community is fully invested in Cayman and the report illustrates that the CEC socio-economic development project is making a very significant impact on Cayman’s economy and community.”
“As CEC continues to grow, it continues to create significant employment and entrepreneurial opportunities for Caymanians and we encourage anyone that might be interested in finding out how they might get involved, whether as a member of the community and/or as a volunteer in our Enterprise Cayman non-profit organisation (NPO).”
77% of Caymanian-held jobs at CEC member companies, are in sectors with high social returns and increasing global demand. “By putting skills first and prioritizing learning, CEC is enabling new industries to take root,” the release by Dukharan reads.
CEC, through its Enterprise Cayman NPO, is a first-mover in private sector-facilitated education and training in the Caribbean, making it a leading force to boost youth participation in the economy. By offering training in specialised skills, Enterprise Cayman is helping to close the gap in higher education and earnings for Caymanians. “Through Enterprise Cayman we’ve set out to strategically support meaningful employment and entrepreneurial opportunities for Caymanians, by providing internship and mentorship opportunities, by hosting skill-building and career focused training, and by providing invaluable networking and community engagement opportunities,” said Kirkconnell.
In 2023 individuals took advantage of 4,226 opportunities to participate in education, training, and career development events and, since launching entrepreneurial programming in 2021, Enterprise Cayman has worked with 41 new Cayman-born business ventures. “We’re helping to develop a local talent pool that meets the demand of Cayman’s growing digital innovation and technology sectors while, in parallel, offering exciting opportunities for individuals to launch new business ventures within an innovative business environment,” said Kirkconnell.
With CEC’s new campus and state-of-the-art facilities, Signal House, the project “holds the promise of deep, continued economic impact,” the report concludes.
To access CEC’s economic impact assessments and Enterprise Cayman’s annual reports please visit https://www.enterprisecayman.ky/reports. For more information on how to get involved and for upcoming programmes and events visit www.enterprisecayman.ky.
Website: www.caymanenterprisecity.com LinkedIn: @CaymanEnterpriseCityTwitter: @CEC_CaymanInstagram: @CaymanEnterpriseCityFacebook: @CaymanEnterpriseCityYouTube: @ceccayman
About Cayman Enterprise City
Cayman Enterprise City (CEC) is an award-winning development project which consists of three special economic zones (SEZs) focused on attracting knowledge-based and specialised-services businesses to set up a genuine physical presence in the Cayman Islands. The zones included within CEC are Cayman Tech City, Cayman Commodities & Derivatives Centre, and Cayman Maritime & Aviation City. With a dedicated Government Authority, licensing fee concessions and guaranteed fast-track processes, CEC enables international companies to quickly and efficiently establish a Cayman Islands office, which in turn enables them to generate active business income within a tax neutral environment.
About Enterprise Cayman
Enterprise Cayman is a non-profit organisation (NPO) powered by Cayman Enterprise City in partnership with Cayman Islands’ special economic zone companies (SEZCos). The organisation, which applies the Theory of Change (TOC) methodology, provides Caymanians and residents with access to high-quality learning experiences and opportunities to develop and launch new business ventures, to pursue careers within the technology and innovation sectors, and to join a dynamic network of industry professionals. Let’s grow the next generation of Caymanian innovators and entrepreneurs with Enterprise Cayman!
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FOR MORE INFORMATION:Contact: Kaitlyn Elphinstone Email: [email protected]
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Artificial Intelligence
Strava Unveils New Chapter of Accelerated Product Development at Brand’s Flagship Event
The Company introduces increased product velocity, leveraging advancements in Artificial Intelligence, in service of its vision of a world connected through movement
LOS ANGELES, May 16, 2024 /PRNewswire/ — Strava, the leading digital community for active people with more than 125 million athletes, today showcased its latest initiatives and product developments at its annual event, Camp Strava. With the theme of Progress, Together company leaders announced how the platform will empower its global community to make progress in the way they explore, move, and connect on Strava.
“Strava is gaining momentum to realize our vision of a world connected through movement,” said Michael Martin, chief executive officer of Strava. “We are focused on two fundamental shifts to accelerate how we deliver value to 125 million people globally– building for women and leveraging Artificial Intelligence – which will unlock new community-and-partner-powered experiences across the platform.”
A New Era of Product VelocityStrava, with new leaders at the helm, is ushering in its next era of product velocity. The company listened closely to feedback from its global community and announced three of the most requested features coming to the platform by the end of the year.
The first of these updates, AI-enabled Leaderboard Integrity, will harness machine learning to automatically flag irregular, improbable, or impossible activities recorded to the platform. Trained by millions of activities, this feature allows all users on Strava to play fair and have more fun.
Additionally, the company announced a new Family Plan Subscription, the sister of the company’s Student Plan. With Family Plan, it’s easier to make a fitness commitment with your community by sharing an annual subscription with up to three other people – friends, family, or fitness family. Launching in select countries this summer, with plans to roll out globally by the end of the year, Strava’s newest annual subscription option offers the best value for groups (up to four), with a discount off the regular subscription price for each member.
Strava also implemented an updated design system, an initiative that is integral in driving a heightened pace of product innovation at the company. Through this work, Strava announced the launch of one of the company’s most requested features, Dark mode. Dark mode will improve the in-app experience for all users, reducing eye strain and improving accessibility while they record activity or scroll through the feed. Athletes can expect a rollout later this summer with options to keep their mobile settings always dark, always light, or match their device settings.
Company leaders highlighted several other features and updates to current products like Flyover, with its next iteration offering an overlay with activity stats and off-platform sharing capabilities. The overlay is available today for Strava subscribers and an off-platform sharing option will be released later this year.
Build for Her, Build for ManyStudies show that women of all ages participate in sports at a far lower rate than men, and overall, despite wanting to be active, find less time to dedicate to an active lifestyle. As the company continues on its mission to motivate people to live their best active lives, building for women on the platform will ultimately serve everyone in the Strava community. Several new features and initiatives were announced as a part of this strategic focus, which includes:
Night Heatmaps: Night Heatmaps show only activities between sundown and sunrise – so athletes can get an idea of which roads, trails, and paths are well-trafficked after hours. Since Night Heatmaps filter for after-hours routes, it can be a helpful tool for female athletes training before sunrise and after sunset.Quick Edit: For active women, having control over what is shared with the Strava community that cheers them on – like what time a run is logged – is important. Quick Edit makes it easier to make the most common edits – like activity name, and privacy settings so you can hide your start time, your map, or other workout stats.Strive for More®: The company announced a new phase of its Strive for More® initiative, created in 2022 to promote and support women in movement and sport. Today, Strava unveiled an official partnership with media company TOGETHXR to encourage more women to watch – and play – women’s sports. As part of the partnership, Strava will also donate $100,000 to the Alex Morgan Foundation, started by co-founder of TOGETHXR, Alex Morgan, to support their mission to help girls and women find confident paths forward in sports and life.Athlete IntelligenceToday, Strava announced the start of an accelerated product roadmap, outlining how Strava will implement the latest technological enhancements in AI and machine learning, to transform the athlete experience.
One key advancement to the platform includes the company’s latest development, Athlete Intelligence. Strava is introducing its beta AI-powered feature which turns each subscriber’s training data into an easily digestible summary that contextualizes their accomplishments and fitness goals. Unlike other AI-powered training services, Strava connects with thousands of devices, wearables, and fitness apps, so an athlete’s insights can consider their entire fitness story across multiple sports and modalities.
The features shared at Camp Strava will be released on a rolling basis through the end of the year. To view the full list of product releases and further details, visit www.press.strava.com.
For more information on Strava, to create a free account, or to start a free subscription trial visit www.strava.com.
About Strava Strava is the leading digital community for active people with more than 125 million athletes, in more than 190 countries. The platform offers a holistic view of your active lifestyle, no matter where you live, which sport you love and/or what device you use. Everyone belongs on Strava when they are pursuing an active life. Join the community, find motivation and discover new experiences with a Strava subscription.
Visit www.strava.com for more information and connect with Strava on Instagram, Twitter, Facebook, YouTube and LinkedIn.
Media Contact: [email protected]
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Artificial Intelligence
Japan Data Center Market Investment to Reach $14.48 Billion by 2028 – Watch Out Exclusive Insight on Japan & Hong Kong Data Center Market – Arizton
CHICAGO, May 16, 2024 /PRNewswire/ — Arizton publishes the latest research report on the Japan data center market and Hong Kong data center market.
The Japan Data Center Market to Witness Investments of $14.48 Billion by 2029.
Get Insights on 107 Existing Data Centers and 41 Upcoming Facilities across Japan.
The data center market in Japan is experiencing the emergence of self-built hyperscale data center facilities by major operators such as Google, Microsoft, and Amazon Web Services (AWS). This development is expected to impact the colocation market in Japan. Since these hyperscale operators store workloads in their own data center facilities, it may reduce the source of revenue generation for colocation operators.
Japan is a well-established data center market in the APAC region. The country supports investments with its macroeconomic policies and other incentives for investors. The market is witnessing several investments from local and global data center operators, further expanding its presence. Tokyo and Osaka are Japan’s major destinations for data center development, accounting for over 90% of the existing data center facilities. The government announced the offer of subsidies in Hokkaido and Kyushu for data center development and decentralize data centers from Tokyo and Osaka.
Investment Opportunities
In October 2023, SoftBank and its subsidiary, IDC Frontier, announced the plan to develop a new data center facility in Tomakomai City, Hokkaido. The company invested around $420 million toward the project, for which it received subsidies worth $190 million from the Ministry of Economy, Trade, and Industry. In July 2023, Internet Initiative Japan (IIJ) launched its second data center building at the Shiroi data center campus in Chiba Prefecture, Greater Tokyo. Once fully built, the campus will house four data center buildings. Furthermore, the company is involved in a third expansion initiative in its Matsue City campus (which will likely go live in 2025).In June 2023, Digital Edge, in partnership with Hulic, a real estate developer, announced the start of the construction of a new data center facility, TY07, in Tokyo. The facility is expected to go online by 2025.In April 2024, GDS Services partnered with Gaw Capital to develop a new data center campus in Fuchu City, Tokyo. Both companies will jointly invest toward developing a new data center facility, with the first phase slated to go online by 2026.To Buy this Research Now, Click: https://www.arizton.com/market-reports/japan-data-center-market-investment-analysis
Existing Vs. Upcoming Data Centers
Existing Facilities in the Region (Area and Power Capacity)TokyoOsakaOther CitiesList of Upcoming Facilities in the Region (Area and Power Capacity)TokyoOsakaOther CitiesVendor Analysis
IT Infrastructure Providers: Arista Networks, Atos, Broadcom, Cisco Systems, Dell Technologies, Fujitsu, Hewlett Packard Enterprise (HPE), Hitachi Vantara, Huawei Technologies, IBM, Inspur, Lenovo, NEC, NetApp, and Oracle.
Data Center Construction Contractors & Sub-Contractors: Arup, AECOM, Daiwa House Industry, Fuji Furukawa Engineering & Construction, Hibiya Engineering, ISG, Kajima Corporation, Keihanshin Building, Linesight, MARCAI DESIGN, Meiho Facility Works, Nikken Sekkei, NTT FACILITIES, Obayashi Corporation, SHINRYO Corporation, TAISEI Corporation.
Support Infrastructure Providers: 3M, ABB, Alfa Laval, Caterpillar, Cummins, Delta Electronics, Eaton, Fuji Electric, HITEC Power Protection, Johnson Controls, Kawasaki Heavy Industries, KOHLSER-SDMO, Legrand, Mitsubishi Electric, Rittal, Rolls-Royce, Schneider Electric, STULZ, Siemens, Vertiv.
Data Center Investors: AirTrunk, Alibaba Cloud, Amazon Web Services, AT TOKYO, Colt Data Centre Services, Digital Edge, Equinix, Fujitsu, Goodman, Google, IDC Frontier, Internet Initiative Japan (IIJ), MC Digital Realty, Microsoft, NTT Communications, SCSK Corporation (NETXDC), Telehouse, Tencent Cloud, TIS INTEC Group.
New Entrants: Ada Infrastructure, Edge Centres, CyrusOne, ESR, GDS Services, Keppel Data Centres, NEXTDC, Princeton Digital Group (PDG), SC Zeus Data Center, STACK Infrastructure, ST Telemedia Global Data Centres, Vantage Data Centers, Yondr.
The Hong Kong Data Center Market will Witness Investments of $4.80 Billion by 2029.
Get Insights on 54 Existing Data Centers and 12 Upcoming Facilities across Hong Kong.
The Hong Kong data center market is booming, driven by the increasing demand for digital services. The data center investments in Hong Kong over the next two to three years are expected to remain high due to the surge in demand and the significant boost due to the advancements in AI technologies. Investors are actively investing in this market.
Hong Kong is a mature and thriving market for data center development in the APAC region. Investors find it an attractive market owing to the high internet and social media usage levels, a robust business ecosystem, and excellent connectivity through both inland and submarine cables. Additionally, the deployment of 5G technology further enhances its appeal.
Hong Kong stands out globally for the incredibly high rates of cell phone and home broadband service usage. With around 300 licensed internet service providers, there is robust competition, providing data center operators with a wide range of choices.
Hong Kong is considered an attractive destination for businesses due to various reasons. Its proximity to mainland China and its import-export relations with major markets, such as China and the US, make it easier for businesses to operate. Additionally, the market has experienced significant growth in Foreign Direct Investment (FDI), ranking after countries like the UK, the US, and China.
Investment Opportunities
In December 2023, the company completed the core and shell construction of phase-1 of the MEGA IDC data center campus. The facility has already signed lease agreements with cloud service providers and international banks for its available space. The company plans to expand the campus through phase-2 during the forecast period.In March 2023, the company launched its seventh data center facility, MEGA Gateway, in Tsuen Wan. The facility is part of its connected MEGA campus.Goodman is among the major investors in the Hong Kong market, and it is continuously expanding its data center presence. In March 2024, the company announced the construction of the new Texaco data center facility in Tsuen Wan. The facility is a brownfield construction that involved the conversion of an industrial building into a data center facility. The facility is likely to go online by 2026.Over 60% Of Future Demand to Come from Cloud Service Providers
The Hong Kong data center market has the presence of on-premises data centers operated by educational institutions, the government, and financial services such as HSBC Bank. A significant decline in on-premises data centers will occur in the next three to five years owing to the increase in digitalizing initiatives across sectors and the strong growth in demand for colocation and cloud services. In addition, most existing service providers offer managed solutions to enterprise customers, which will likely grow in the market from 2024-2029.
The market has the presence of all global cloud operators, such as Amazon Web Services (AWS), Google, Microsoft, Alibaba Cloud, Huawei Cloud, and Tencent Cloud. This will propel the demand for wholesale colocation services through these service providers’ continuous expansion initiatives. The cloud segments will likely dominate capacity take-up over the next five years. In addition, the market will witness the entry of multiple global organizations to service customers through a local presence.
To Buy this Research Now, Click: https://www.arizton.com/market-reports/hong-kong-data-center-market-size-analysis
Existing VS. Upcoming Data Centers
Existing Facilities in the Region (Area and Power Capacity)Tseung Kwan OKwai ChungTsuen WanFanlingFo TanChai WanTai PoOther LocationList of Upcoming Facilities in the Region (Area and Power Capacity)Tseung Kwan OKwai ChungTsuen WanFanlingFo TanChai WanTai PoOther LocationVendor Analysis
IT Infrastructure Providers: Arista Network, Atos, Cisco Systems, Dell Technologies, Fujitsu, Hewlett Packard Enterprise (HPE), Huawei Technologies, IBM, Inspur, Lenovo, NetApp.
Data Center Construction Contractors & Sub-Contractors: Arup, AtkinsRéalis, Aurecon, BYME Engineering, Chung Hing Engineers Group, Cundall, DSCO Group, Gammon Construction, ISG, Studio One Design.
Support Infrastructure Providers: ABB, Airedale, Caterpillar, Cummins, Delta Electronics, Eaton, Fuji Electric, KOHLER, Legrand, Mitsubishi Electric, Piller Power Systems, Rittal, Schneider Electric, Siemens, STULZ, Sumber, Vertiv.
Data Center Investors: AirTrunk, BDx, CITIC Telcom International, China Mobile International (CMI), China Unicom, Digital Realty, Equinix, ESR, GDS Services, Global Switch, Goodman, iTech Towers Data Centre Services, NTT DATA, SUNeVision Holdings (iAdvantage), Telehouse, Towngas Telecom (TGT), Vantage Data Centers.
New Entrants: Angelo Gordon and Mapletree Investments
Japan & Hong Kong Data Center Market Segmentation
IT Infrastructure
Servers
Storage Systems
Network Infrastructure
Electrical Infrastructure
UPS Systems
Generators
Transfer Switches & Switchgears
PDUs
Other Electrical Infrastructure
Mechanical Infrastructure
Cooling Systems
Rack Cabinets
Other Mechanical Infrastructure
Cooling Systems
CRAC & CRAH Units
Chiller Units
Cooling Towers, Condensers & Dry Coolers
Economizers & Evaporative Coolers
Other Cooling Units
General Construction
Core & Shell Development
Installation & Commissioning Services
Engineering & Building Design
Fire Detection & Suppression Systems
Physical Security
DCIM
Tier Standard
Tier I & Tier II
Tier III
Tier IV
Check Out Some of the Top Selling Research Reports:
Malaysia Data Center Market – Investment Analysis & Growth Opportunities 2024-2029https://www.arizton.com/market-reports/malaysia-data-center-market-size-analysis
Singapore Data Center Market – Investment Analysis & Growth Opportunities 2024-2029https://www.arizton.com/market-reports/singapore-data-center-market-size-analysis
Southeast Asia Data Center Construction Market – Industry Outlook & Forecast 2024-2029https://www.arizton.com/market-reports/southeast-asia-data-center-construction-market
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