When it comes to enterprise data, Europe is now the world’s leading superpower, according to a new report from Digital Reality.
The company’s Data Gravity Index DGx - which measures the creation, aggregation and private exchange of enterprise data across 21 metros - shows that Europe’s pre-eminence in a wide range of knowledge economy industries generates “vast amounts of enterprise data”.
Fueled by the emergence of data-led industries in Europe, the Old Continent has become a true “superpower”, with the volume of data created, aggregated and exchanged by European cities exceeding even that of North America.
Digital Reality also states that the trend isn’t going to reverse any time soon - the company expects Europe to extend its lead even further by 2024.
London is currently the world’s most powerful center for enterprise data - way ahead of New York and Tokyo. This success is driven mostly by its “prominent and highly connected” financial services industry.
Four other European cities also currently rank in the top centers of enterprise data: Amsterdam, Dublin, Frankfurt and Paris.
The report also states that data creation is only one side of the story; the flow of data between cities is also a significant metric.
According to the Data Gravity Index DGx, London and Amsterdam are the two most interconnected cities, followed by Paris and London, Frankfurt and Paris, London and Frankfurt, and Dublin and London.
“We’ve seen that Data Gravity not only attracts data but makes both data and the services that rely on it exponentially more difficult to move. This gives cities with a particular weight in one industry, like London’s financial services sector or Frankfurt’s complex manufacturing sector, a huge advantage as they naturally attract more of the same kind of data and services – and with them businesses – while it becomes ever harder to attract opportunities away from them,” explained Dave McCrory of Digital Reality.
“For businesses, it’s less advantageous – data has become a key strategic resource, but Data Gravity means too much of it can be difficult to use and impossible to move while constantly creating and attracting more."