Digital Realty opens new Docklands facility to support the
growth of London's technology
ecosystem
Artificial Intelligence, Internet of Things, 5G and
Blockchain currently on track to contribute £6.25 billion to
London economy in 2019 – expected
to increase to £24.29 billion by 2029
LONDON, Sept. 12, 2019 /PRNewswire/ -- Digital
Realty (NYSE: DLR), a leading global provider of data centre,
colocation and interconnection solutions, announced today the
official opening of Cloud House, the latest facility in its Digital
Docklands campus of highly-connected data centres in
London's Docklands area. The
investment will support the growth of London's technology ecosystem, with the city
set to experience a multibillion-pound technology boom, according
to a new study conducted by Development Economics.
The Digital Realty-commissioned study, "Digital Capitals Index:
London," examines the value that innovative technologies will
deliver to the city's economy over the next decade through new
jobs, businesses, industries and efficiencies in public services.
The report focuses on four of the most widely discussed
technology innovations: Artificial Intelligence (AI), the
Internet of Things (IoT), 5G and Blockchain.
Technology
|
Aggregate Annual
Value to London's Economy, 2019
|
IoT
|
£3.09
billion
|
AI
|
£1.99
billion
|
Blockchain
|
£1.04
billion
|
5G
|
£0.13
billion
|
Total
|
£6.25
billion
|
Table 1: London
– contribution of four digital technologies: 2019 (£GBP, 2019
prices), "Digital Capitals Index: London"
|
These four innovative technologies combined will add £6.25
billion to London's economy in
2019, with IoT contributing the most at £3.09 billion (49 percent
of the total) primarily through improvements in operational
efficiencies.
AI is the second most impactful with an expected contribution in
2019 of £1.99 billion (32 percent of the total) through
applications such as combating money laundering. Blockchain
will generate £1.04 billion of value (17 percent), and 5G, still in
its early stages, will add £130 million (2 percent).
By 2029, however, these new technologies are tipped to
contribute an estimated £24.29 billion to London's economy, £18.04 billion more than
2019.
Technology
|
Aggregate Annual
Value to London's Economy, 2029
|
AI
|
£10.46
billion
|
IoT
|
£6.44
billion
|
5G
|
£4.29
billion
|
Blockchain
|
£3.09
billion
|
Total
|
£24.29
billion
|
Table 2: London
– contribution of four digital technologies: 2029 (£GBP, 2019
prices), "Digital Capitals Index: London"
|
The most spectacular growth is expected to come from 5G, with
its economic contribution to London's economy set to increase 3,000 percent
over the next decade, from £130 million to £4.29 billion, as 5G
becomes the foundation for the deployment of many other innovative,
data-led technologies.
Digital Realty's investment in the Digital Docklands is designed
to underpin the growing importance of data-led technologies to
London's economy by ensuring the
city's businesses have the right digital infrastructure to adopt
and deliver on complex technology, wherever and whenever they need.
The Digital Docklands campus is highly connected, offering
the high-speed global connectivity required to deliver on the
promise of AI, IoT, 5G and Blockchain.
"Cities around the world are on the cusp of a technology
revolution that could drive substantial economic growth," says
Jeff Tapley, EMEA Managing Director,
Digital Realty. "The opening of our new facility in the
Digital Docklands underscores Digital Realty's commitment to
supporting the technology revolution in London. Businesses can rely on our
secure platform to connect to and deliver the critical technology
they need to succeed, from AI to IoT, from one city and
country to anywhere in the world in order to efficiently grow
and scale."
About Digital Realty
Digital Realty supports the data
centre, colocation and interconnection strategies of more than
2,000 firms across its secure, network-rich portfolio of data
centres located throughout North
America, Europe,
Latin America, Asia and Australia. Digital Realty's
clients include domestic and international companies of all sizes,
ranging from cloud and information technology services,
communications and social networking to financial services,
manufacturing, energy, healthcare and consumer products.
www.digitalrealty.com. Follow Digital Realty on social
media: LinkedIn, Twitter, Facebook, Instagram and
YouTube.
For Additional Information
Sue
Jones
Vice President, Marketing EMEA, Digital Realty
s.jones@digitalrealty.com
Media and Industry Analyst Relations
Marc Musgrove
Digital Realty
(415) 508-2812
mmusgrove@digitalrealty.com
Investor Relations
John J.
Stewart
Digital Realty
(415) 738-6500
investorrelations@digitalrealty.com
Forward-Looking Statements
This press release contains
forward-looking statements which are based on current expectations,
forecasts and assumptions that involve risks and uncertainties that
could cause actual outcomes and results to differ materially,
including statements related to Digital Docklands, the digital
economy as a whole, the Digital Capital: London" report and our expectations for
London technology. These
risks and uncertainties include, among others, the following:
reduced demand for data centres or decreases in information
technology spending; decreased rental rates, increased operating
costs or increased vacancy rates; increased competition or
available supply of data centre space; the suitability of our data
centres and data centre infrastructure, delays or disruptions in
connectivity or availability of power, or failures or breaches of
our physical and information security infrastructure or services;
our dependence upon significant customers; bankruptcy or insolvency
of a major customer or a significant number of smaller customers;
our inability to successfully develop and lease new properties and
development space; the impact of current global and local economic,
credit and market conditions; changes in foreign exchange rates;
our inability to retain data centre space that we lease or sublease
from third parties; difficulties managing an international
business; our failure to successfully integrate and operate
acquired or developed properties or businesses; risks related to
joint venture investments; risks associated with using debt to fund
our business activities; our failure to complete any financing
arrangements contemplated from time to time; and, risks related to
our taxation as a REIT. For a further list and description of
such risks and uncertainties, see the reports and other filings by
the company with the U.S. Securities and Exchange Commission,
including the company's Annual Report on Form 10-K for the year
ended December 31, 2018 and Quarterly
Reports on Form 10-Q for the quarters ended March 31, 2019 and June
30, 2019. The company disclaims any intention or
obligation to update or revise any forward-looking statements,
whether as a result of new information, future events or
otherwise.