ResearchAndMarkets Releases Global Data Center Construction Market Outlook for 2019-2027
DUBLIN, IRELAND — The “Data Center Construction Market to 2027 – Global Analysis and Forecasts by Types of Construction; By Tier Standards; and By Industry Verticals” report has been added to ResearchAndMarkets.com’s offering. The global Data Center construction market accounted for $45.1 Billion USD in 2018 and is expected to grow at a CAGR of 8.4% over the forecast period 2019-2027, to account for $89.9 Billion USD in 2027.
The demand of Data Center construction market is largely influenced by rise in the demand of green/energy efficient data center, which is designed to achieve maximum energy efficiency and decreasing the environmental impact. For this purpose, strategies to reduce carbon footprint are used within the data centers including low-emissions building materials usage, minimizing building footprints, water and waste recycling as well as making use of alternative energy technologies.
These alternative technologies include heat pumps, photovoltaic, evaporative cooling etc. For achieving energy efficiency and controlling the costs of operations, several companies are already implementing measures to reduce electricity and water usage in the data centers.
The Data Center construction market is fragmented with the presence of several industries, and the competitive dynamics in the data center construction market is expected to change in the upcoming years. In addition to this, various initiatives are undertaken by the governmental bodies as well as private data center construction market player to further accelerate the global Data Center construction market.
For instance, Amazon is planning to build a $1.08 Billion USD data center in Dublin; IBM plans to open three data centers in UK; also, after two data centers in Ireland and Denmark, Facebook is announced to construct its third data center in Denmark. Furthermore, Interxion has plans to invest $87.8 Million USD to construct new data center facilities in London, Frankfurt, and Stockholm.
On the basis of type of construction, the electrical design segment is leading the Data Center construction market and is anticipated to grow at a highest CAGR. Growth of this segment is primarily driven by technological advancement in modern data processing servers and storage systems. Utilization of advanced analytical techniques across enterprises is demanding the deployment of high speed processing equipment in data center facilities. Further, development in cloud computing is encouraging the companies to replace old IT infrastructure equipment in order to keep pace with innovation.