Cloud tech used extensively in banking department in Switzerland

Cloud tech used extensively in banking department in Switzerland

If there is a place where it is possible to touch the clouds in the sky and use the digital cloud on Earth it is Switzerland. The 728-year-old Swiss Confederation has as many natural wonders as interesting use-cases of cloud adoption and data center expansions. From colocation providers, to hyperscalers, IT services providers, crossing a whole range of other market players and new technologies like blockchain and artificial intelligence, Switzerland is booming. And no one noticed. João Marques Lima reports.

The Alps are the highest and most extensive mountain range system that lies entirely in Europe and reach its peak at nearly 15,800 sqf high or 4,808 meters. Despite touching the sky and romping through the clouds across eight European countries, across the land, a new cloud is being touched and that is cloud computing.

All states are currently undergoing a transformative cloud journey with data centres being built. However, it is in some ‘hidden markets’ that interest is growing considerably.

While most eyes have been, for instance, on the Nordic region and Dublin in recent years, Switzerland has quietly added up to its data centre footprint, counting with facilities from some of the world’s largest colocation and wholesale players, as well as hyperscalers.

Although not the largest or most populated country in Europe at 8.5 million citizens and 41,285 skm of land, Switzerland, which has remained independent from Europe, has over the centuries proven to be a beacon of stability and has transformed itself into one of the most important financial clusters in the world.

It’s GPD has grown from ‘just’ $197bn in 1980 to more than $660bn by 2017 and is estimated to have nearly topped $710bn in 2018, making it the world’s 20th largest economy, according to the International Monetary Fund. However, Switzerland ranks second in terms of per capital nominal GDP at $82,950, only behind Luxembourg’s $114,234.

The number of internet users has boomed in the last decade, from around 2.1 million in 2000 and a 28.8% penetration rate, to anywhere between 90% and 94% at the end of 2018, according to different reports.

 

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