Data centers are facilities that house computer systems and associated components, such as telecommunications and storage systems. They are vital infrastructure for businesses, as they store, process, and organize Companies’ digital assets and information technology operations. Adoption of advanced cooling systems, rack density optimization and implementation of renewable energy sources help operators achieve higher profit margins.
The global data center construction market is estimated to be valued at US$ 72099.62 Mn in 2024 and is expected to exhibit a CAGR of 6.4% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Adoption of modular and pre-engineered facility designs has been a key trend boosting growth of the data center construction market. These designs facilitate swift deployment of data center capacity with reduced construction timelines. For example, modular data centers consist of re-usable modules or containers that can be shipped to customer sites and assembled. They prove highly beneficial for organizations requiring additional capacity in the short-term. Prefabricated designs also enable optimized layouts with proprietary fittings. This makes infrastructure installation, maintenance and capacity expansion more seamless. Their cost advantages over conventionally designed centers have accelerated their adoption to meet the surge in demand for data storage and cloud computing services globally.
Segment Analysis
The global data center construction market is dominated by electrical infrastructure segment. This is because electrical infrastructure are necessity for data centers which houses servers and networking equipment to run. Electrical infrastructure comprise of uninterruptible power supply systems, power distribution units, power generators, transfer switches and switches & others which are crucial for powering the servers and related IT infrastructure 24/7. Data centers also require precision air conditioning systems to maintain the temperature and humidity as server rooms generate a lot of heat. Thus, mechanical segment is also an important segment in this market.
Key Takeaways
The Global Data Center Construction Market Demand is expected to witness high growth during the forecast period of 2024 to 2031. Growing reliance on digital technologies and internet amid Covid-19 pandemic has increased the demand for data centers globally. The global data center construction market is estimated to be valued at US$ 72099.62 Mn in 2024 and is expected to exhibit a CAGR of 6.4% over the forecast period 2024 to 2031.
Regional analysis
North America region currently dominates the data center construction market owing to high adoption of advanced cloud computing services. Also, presence of major cloud service providers such as Amazon Web Services, Microsoft Azure, Google cloud in the US is driving significant data center construction activities. Asia Pacific region is expected to grow at the fastest pace during the forecast period with China and India emerging as hotspots. This is due to rising industrialization and digitalization in various end use industries across developing nations of Asia Pacific.
Key players
Key players operating in the data center construction market are Regeneron Pharmaceuticals, Inc., Alimera Sciences, Oxurion NV., Abbvie Inc. and F. Hoffmann-La Roche Ltd. Regeneron Pharmaceuticals dominates the market with its portfolio of late stage pipeline drugs for treating diabetic retinopathy. Alimera Sciences holds strong position in the global market owing to its FDA approved intravitreal implant for treating diabetic eye disease.
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