Global Data Center Construction Market to Surpass 354.30 Billion by 2030 Driven by Ever-Expanding Demand for Data Storage
SkyQuest projects that the global data center construction market will attain a value of USD 354.30 billion by 2030, with a CAGR of 7.5% during the forecast period (2023-2030). The global data center construction market is poised for sustained growth due to the ever-expanding demand for data storage and processing capabilities. This growth is fueled by several key factors such as the rapid adoption of edge computing, the rollout of 5G technology, and the rising emphasis on data privacy and security.
Westford, USA, Jan. 12, 2024 (GLOBE NEWSWIRE) — According to SkyQuest, additionally, technological advancements in modular data center construction and the utilization of prefabricated components are expected to revolutionize the construction process, enhancing efficiency and reducing deployment times. The imperative for robust and scalable data center infrastructure remains paramount in the global data center construction market as digital transformation initiatives gain momentum across diverse industries.
Browse in-depth TOC on the “Data Center Construction Market”
- Pages – 157
- Tables – 62
- Figures – 75
The global data center construction market is on a trajectory of sustained growth, primarily driven by the continually increasing need for expanded data storage and processing capabilities.
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Prominent Players in Global Data Center Construction Market
- Turner Construction Company
- DPR Construction
- AECOM
- Skanska AB
- Jacobs Engineering Group Inc.
- Clark Construction Group, LLC
- Hensel Phelps Construction Co.
- Structure Tone
- Fluor Corporation
- Mortenson
- ISG plc
- Balfour Beatty plc
- M. A. Mortenson Company
- Corgan
- NCC AB
- Holder Construction Company
- Gilbane Building Company
- HITT Contracting Inc.
- The Whiting-Turner Contracting Company
- PCL Construction
Tier III Data Centers Segment to Dominate Market due to their High Availability
The prevailing and dominant segment within the global data center construction market is Tier III data centers. These facilities balance cost-effectiveness and high availability, making them desirable among small to medium-sized enterprises (SMEs).
The market in North America has established its dominance in the global data center construction market, primarily driven by the strong presence of leading cloud service providers, including industry giants such as Amazon Web Services (AWS), Microsoft, and Google.
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Tier IV Data Centers Segment to Witness Significant Growth due to Unparalleled Level of Redundancy
The most rapidly expanding segment within the global data center construction market is undoubtedly the Tier IV data centers, renowned for their unparalleled redundancy and availability.
Regional market in Asia-Pacific is poised to emerge as the fastest-growing global data center construction market. Several key factors, such as the surging adoption of cloud computing services and the exponential increase in the number of internet users across the region fuel this growth.
A comprehensive analysis of the major players in the global data center construction market has been recently conducted in this report. The report encompasses various aspects, including collaborations, mergers, innovative business policies, and strategies, providing valuable insights into key trends and breakthroughs in the market. Furthermore, the report scrutinizes the market share of the top segments and presents a detailed geographic analysis. Lastly, the report highlights the major players in the industry and their endeavours to develop innovative solutions to cater to the growing demand.
Key Developments in Global Data Center Construction Market
- In 2023, Iron Mountain, a prominent data center provider, made a significant announcement regarding its foray into the world of edge computing and Internet of Things (IoT) applications with the introduction of its Iron Cloud Edge service. This strategic move underscores the growing importance of edge computing solutions in catering to the evolving needs of businesses and industries seeking low-latency, high-performance computing resources at the network edge.
- In 2023, EdgeConnex, a renowned developer and operator of data centers, unveiled ambitious plans to invest a substantial $1 billion in the construction of data centers across the Asia-Pacific region within the next five years. This considerable commitment demonstrates the company’s commitment to expanding its data center infrastructure footprint in one of the world’s most dynamic and rapidly growing markets.
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Key Questions Answered in the Global Data Center Construction Market Report
- What specific growth drivers are projected to impact the market during the forecast period?
- List the top companies in the market and explain how they have achieved their positions of influence.
- In what ways do regional trends and patterns differ within the global market, and how these differences shape the market’s future growth?
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