(MENAFN- GlobeNewsWire - Nasdaq) Dublin, Feb. 09, 2024 (GLOBE NEWSWIRE) -- The "Canada Data Center Market Size & Share Analysis - Growth Trends & Forecasts Up To 2029" report has been added to ResearchAndMarkets's offering.
The Canadian data center market is experiencing a significant upturn, with industry analysis forecasting a Compound Annual Growth Rate (CAGR) of 8.94% leading up to 2029. Key factors contributing to this growth include the increasing demand for IT infrastructure, IoT integration, and government incentives for data center expansions.
This positive trend is reflected in the substantial increase in IT load capacity, anticipated to attain 1,159.6 MW by 2029. Further, data center raised floor space is projected to expand to an impressive 5.3 million sq. ft within the same timeframe, accommodating the rapid technological advancements and data needs of the industry.
The burgeoning IoT market stands as a substantial growth driver for the data center market in Canada. Sectors such as agriculture, with a current 27% utilization of autosteer equipment among farms, and manufacturing's forthcoming supply chain improvements through IoT are critical in feeding data consumption needs. IoT deployment across various segments necessitates substantial server processing power, propelling the demand for sophisticated data center solutions.
In a detailed market segment analysis, Tier 3 data centers continue to dominate the landscape. Yet, it is Tier 4 data centers, known for their high bandwidth speed, low latency, and robust disaster recovery capabilities, that are anticipated to soar at a notable CAGR of 22.68%. This impressive growth rate eclipses that of Tier 3 data centers and speaks volumes about the market's dynamic shift towards high-efficiency, high-availability data infrastructure solutions.
Canada Data Center Competitive Landscape
The market concentration in Canada is relatively high, with the top five industry players holding an 87.02% market share. These leading providers are at the forefront of delivering sophisticated data center services, catering to the ever-increasing IT infrastructure needs brought about by digital transformation and the upsurge in data consumption.
A Look Ahead
As Canada continues to chart a course through its digital evolution, the reliance on robust data center infrastructures becomes ever more apparent. The expanding IT load capacity, installed racks, and raised floor space all point to a market in full throttle towards 2029 and beyond. Businesses and service providers aim to leverage this momentum to meet the rising demand for data storage, processing, and connectivity solutions.
The extensive market insights explored within this recently added research publication offer valuable foresight into the Canada Data Center market's trajectory and key trends shaping its future. This encompassing analysis is a guiding tool for stakeholders and industry observers seeking to grasp the full sweep of the market's potential.
Growth in IT load capacity, raised floor space, and installed racks forecasted for Canada's Data Center market IoT-driven demand across various sectors fuels the expansion of data center services Future-forward trends indicate a surge in Tier 4 data center capabilities, outpacing other tier types Consolidated market poised for ongoing development with key industry players leading the charge
A selection of companies mentioned in this report includes:
Beanfield Technologies, Inc. (Beanfield Metroconnect) CentriLogic, Inc. Cologix, Inc. Core Data Centres, Inc. Cyxtera Technologies Digital Realty Trust, Inc. Equinix, Inc. eStruxture Data Centers Inc. Fibre Centre Rack and Data Sungard Availability Services L.P. Vantage Data Centers, LLC
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Canada Data Center Market Canada Data Center Market C A G R By Tier Type
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