(MENAFN- IMARC Group)
IMARC Group's report titled“ Data Center Construction Market Report by Construction Type (Electrical Construction, Mechanical Construction), Data Center Type (Mid-Size Data Centers, Enterprise Data Centers, Large Data Centers), Tier Standards (Tier I & II, Tier III, Tier IV), Vertical (Public Sector, Oil and Energy, Media and Entertainment, IT and Telecommunication, Banking, Financial Services and Insurance (BFSI), Healthcare, Retail, and Others), and Region 2024-2032 “. The global data center construction market size reached US$ 55.8 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 103.6 Billion by 2032, exhibiting a growth rate (CAGR) of 7.03% during 2024-2032.
Factors Affecting the Growth of the Data Center Construction Industry:
Increasing Demand for Cloud Services:
The exponential growth in cloud computing is a significant driver for data center construction. Businesses are increasingly reliant on cloud services for scalable, flexible, and efficient computing resources, leading to a surge in demand for data centers to host these services. This trend is fueled by the shift towards remote work, the proliferation of streaming services, online gaming, and the growing use of AI and IoT technologies, which require robust data storage and processing capabilities. Companies are investing in building new data centers or expanding existing facilities to accommodate the increasing data load and ensure high availability, security, and compliance with regulations, thereby propelling the data center construction market.
The growing emphasis on sustainability and energy efficiency is profoundly influencing the data center construction market. Data centers are high-energy consumers, and there is a pressing need to minimize their carbon footprint and operate more sustainably. This environmental consideration is driving the adoption of green data center practices, such as using renewable energy sources, enhancing cooling efficiencies, and deploying energy-efficient infrastructure. Companies are also motivated by potential cost savings, regulatory compliance, and the desire to enhance their corporate social responsibility (CSR) profile. The construction of new data centers is increasingly incorporating sustainable design, energy-efficient technologies, and innovative cooling systems to meet these green imperatives, significantly impacting market dynamics.
Technological Advancements:
The rapid pace of technological advancements, such as 5G, AI, machine learning, and IoT, necessitates state-of-the-art data center facilities that can handle high-density computing and large-scale data storage. These technologies require advanced infrastructure to process and store vast amounts of data efficiently and with minimal latency. As a result, there is a significant push to construct data centers that can support the increased power, cooling, and connectivity demands of modern computing, driving the market forward. Additionally, the need for data centers to be future-proofed to accommodate next-generation technologies is prompting businesses to invest in flexible, scalable, and sustainable data center solutions.
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Leading Companies Operating in the Global Data Center Construction Market:
AECOM DPR construction Inc. Eaton Corporation Inc. Fujitsu Limited Holder Construction Company Legrand SA Rittal GmbH & Co. KG Schneider Electric SE Tripp Lite Turner Construction Vertiv Group Corporation
Data Center Construction Market Report Segmentation:
Breakup by Construction Type:
Electrical Construction Mechanical Construction
Electrical construction represents the largest segment as it ensures an uninterrupted power supply to always keep the data center operational.
Breakup by Data Center Type:
Mid-Size Data Centers Enterprise Data Centers Large Data Centers
Large data centers holds the largest market share as they are often operated by cloud service providers or colocation companies.
Breakup by Tier Standards:
Tier I & II Tier III Tier IV
Tier III dominates the market as they have multiple backup systems for critical components.
Breakup by Vertical:
Public Sector Oil & Energy Media & Entertainment IT & Telecommunication Banking, Financial Services and Insurance (BFSI) Healthcare Retail Others
IT and telecommunication accounts for the largest market share due to their increasing reliance on data center facilities.
Regional Insights:
North America (United States, Canada) Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others) Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others) Latin America (Brazil, Mexico, Others) Middle East and Africa
North America's dominance in the data center construction market is attributed to the increasing adoption of cloud-based services, especially among startups and SMEs.
Global Data Center Construction Market Trends:
At present, with the rise of IoT devices and the need for low-latency processing, there's a growing demand for edge computing infrastructure. Besides, environmental concerns and regulatory pressures are pushing data center operators to adopt more sustainable practices. This includes the construction of energy-efficient facilities, utilization of renewable energy sources, and implementation of innovative cooling technologies to reduce carbon footprints. Moreover, many organizations are transitioning toward hybrid cloud infrastructures, combining on-premises data centers with cloud services. This trend is likely to influence data center construction, with a focus on creating flexible, interconnected facilities capable of supporting hybrid IT environments.
Note: If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARCs information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.
Our offerings include comprehensive market intelligence in the form of research reports, production cost reports, feasibility studies, and consulting services. Our team, which includes experienced researchers and analysts from various industries, is dedicated to providing high-quality data and insights to our clientele, ranging from small and medium businesses to Fortune 1000 corporations.
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