The global data center construction market is experiencing growth due to surge in the expenditure on data center technology and the rise in adoption of multi-cloud and network upgrade to support 5G technology.
NEW CASTLE, Del., Aug. 5, 2024 /PRNewswire/ — Allied Market Research published a report, titled, “Global Data Center Construction Market by Construction Type (General Construction, Electrical Design, and Mechanical Design), Tier (Tier 1, Tier 2, Tier 3, and Tier 4), Data Center Size (Small Data Center, Medium Data Center, and Large Data Center), and Industry Vertical (BFSI, IT and Telecommunications, Healthcare, Government, Manufacturing, and Others): Global Opportunity Analysis and Industry Forecast, 2024-2032″. According to the report, the data center construction market was valued at $212.6 billion in 2023, and is estimated to reach $416.4 billion by 2032, growing at a CAGR of 7.4% from 2024 to 2032.
Prime determinants of growth
As digital transformation accelerates across industries across the globe, fueled by the proliferation of mobile devices, rise in internet penetration, and adoption of cloud-based applications, there is a huge demand for robust infrastructure capable of handling vast amounts of data. Hyperscale data centers, characterized by their immense scale and efficiency, are uniquely positioned to meet this escalating demand. These facilities offer unparalleled computing power, storage capacity, and networking capabilities, enabling organizations to leverage advanced technologies such as AI, IoT, and big data analytics to drive innovation and gain competitive advantage. These factors are contributing to the growth of the data center construction market globally.
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Report coverage & details:
Report Coverage
Details
Forecast Period
2024–2032
Base Year
2023
Market Size in 2023
$212.6 Billion
Market Size in 2032
$416.4 Billion
CAGR
7.4 %
No. of Pages in Report
250
Segments Covered
Construction Type, Tier, Data Center Size, Industry Vertical, and Region.
Drivers
Increase in investment in advanced data center technology Rise in adoption of cloud computing and edge computing
Opportunities
Expansion of data center for digital economy growth Rise in adoption of multi-cloud for advanced technology adoption
Restraint
• Growing data privacy concerns
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Segment Highlights
Businesses are increasingly turning to colocation facilities rather than maintaining their own data centers. Colocation providers provide shared data center space with secure infrastructure, allowing businesses to scale their IT requirements without the need to build and operate their own facilities. Additionally, the volume of data generated globally is rapidly increasing, thanks to technologies such as the Internet of Things (IoT) , artificial intelligence (AI) , and big data analytics. This ever-increasing data requires greater storage and processing capacity, necessitating the construction of additional data centers thereby propelling the growth of the market.
Similarly, hyperscalers and colocation providers are expanding into new locations to serve increasing local markets. This regional diversity necessitates the establishment of data centers in important places around the world. Moreover, businesses globally are undergoing digital transformation, resulting in a greater reliance on cloud-based services and data-driven applications. This digital revolution demands a strong data center infrastructure to accommodate the new technologies. These factors are further contributing to the growth of the global data center construction market.
Regional Outlook
Based on region, the data center construction market is segmented into North America, Europe, Asia-Pacific, and LAMEA. North America accounted for the highest share in 2023. North America has appropriate infrastructure due to the presence of prime vendors in nations such as the United States and Canada, leading in an increase in demand for smart artificial intelligence-powered equipment in this region.
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Major Industry Players: –
Cisco Systems Inc IBM Corporation Oracle Corporation ABB Hitachi Ltd Equinix, Inc. Schneider Electric Huawei Technologies Co., Ltd. Fujitsu Hewlett Packard Enterprise Development LP.
The report provides a detailed analysis of these key players in the global data center construction market. These players have adopted different strategies such as new development, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, portfolio, and strategic moves of market players to showcase the competitive scenario.
Recent Development:
On April 29, 2024, AdaniConneX, announced its plans to construct a sustainability-linked financing data center. Adani Enterprises and EdgeConnex entered into a joint venture with an investment of US$ 1.44 billion for the construction of the data center. On April 24, 2024, BSNL, an Indian telecommunication provider, and Tata Communications partnered for building multiple data centers across India. The partnership is aimed to expand the data centers capacity across the country. On April 10, 2024, an investment of US$ 1 billion was announced by Google for constructing a data center in Kansas City. The investment was made by Google to expand its data center presence in the Midwest. On March 4, 2024, Zoho Corporation, announced the opening of the first two Middle East data centers in Saudi Arabia to ensure local data is stored within the geographical boundaries of the Kingdom, in line with Personal Data Protection Laws (PDPL)
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