• Megawide Industries, owned by Filipino business magnate Edgar Saavedra, is making a foray into the AI and data center industry with a $300 million co-location center development in Cavite.
• The 70-megawatt data facility in the Philippines will offer sophisticated solutions to enterprises seeking to use the benefits of cloud computing, artificial intelligence, and data analytics.
• According to market research firm Grand View Research, the global AI market size was valued at $62.35 billion in 2020 and is projected to grow at a compound annual growth rate (CAGR) of 45.2% from 2021 to 2028.
Megawide’s $300 Million Data Center
Megawide Industries, owned by Filipino business magnate Edgar Saavedra, is making a foray into the AI and data center industry with a $300 million co-location center development in Cavite, just outside the country’s capital city of Manila, in cooperation with Singapore’s Evolution Data Centres. The 70-megawatt data facility in the Philippines is subject to regulatory approval as part of a transition to the digital domain. It will be erected in phases over a five-year period, with an anticipated launch in the first quarter, the companies indicated in a Wednesday statement.
Features Of The Data Center
Once completed, the data farm will offer sophisticated solutions to enterprises seeking to use the benefits of cloud computing, artificial intelligence, and data analytics. The AI market specifically is currently experiencing significant growth and is expected to continue to do so in coming years. A data center typically includes redundant or backup power supplies, data communications connections environmental controls (e.g., air conditioning fire suppression), and various security devices that are designed for continuous operations critical business functions such as hosting websites and applications; storing processing large amounts of data; running cloud based services; providing disaster recovery services etc..
Global Market For Artificial Intelligence
According to market research firm Grand View Research ,the global AI market size was valued at $62.35 billion in 2020 and is projected to grow at a compound annual growth rate (CAGR) of 45 .2 % from 2021to 2028 . This indicates that there has been continuous innovation within AI technologies , which has helped drive up demand for these services across different sectors .
Benefits For Enterprises
The new co-location center development can help businesses gain access advanced technologies , such as cloud computing ,AI ,data analytics etc .These technologies can provide numerous advantages such as cost savings , efficiency gains , improved customer experience etc . Moreover , this can also enable enterprises stay competitive amidst rapidly changing technological landscape .
Conclusion
The new co-location center development by Megawide Industries can be beneficial for businesses looking for accessing advanced technologies like cloud computing ,AI & Data Analytics . This will enable them stay competitive while gaining cost savings & efficiency gains amongst other benefits . Additionally , this could also help contribute towards boosting Philippines’ competitiveness within global AI marketspace