Iceland Data Center Market Investment Analysis and Growth Opportunities 2023-2028 Featuring Major DC Investors - Borealis Data Center, atnorth, and Verne Global

Dublin, Feb. 06, 2024 (GLOBE NEWSWIRE) -- The "Iceland Data Center Market - Investment Analysis & Growth Opportunities 2023-2028" report has been added to's offering.

The Iceland data center market is expected to reach a value of $543 million by 2028 from $266 million in 2022, growing at a CAGR of 12.63%

This report analyses the Iceland data center market share. It elaboratively analyses the existing and upcoming facilities and investments in IT, electrical, mechanical infrastructure, general construction, and tier standards. It discusses market sizing and investment estimation for different segments.

Iceland secures 4th for digital innovation in the European Commission's eGovernment Benchmark 2022. In terms of 5G network deployment, Mila, Siminn, Vodafone, Ciena, Ericsson, and Nova are some of the telecom operators involved in deploying the 5G services across the region.

Reykjavik is the primary hub in the Iceland data center market, with most existing third-party data centers. Other cities such as Keflavik, Akureyri, and Blonduos are the emerging data center locations. Iceland has ambitious targets for its future energy, which aims to reduce the use of fossil fuels by 2050 and achieve carbon neutrality by 2040.

Iceland's membership in the European Free Trade Association (EFTA) and the European Economic Area (EEA) allows it to participate in the European Single Market, facilitating the free movement of capital, labor, goods, and services with the EU. Iceland also maintains regulatory stability by adopting EU legislation for matters related to the single market.

In the Iceland data center market, some key investors are atNorth, Borealis Data Centres, and Verne Global. In June 2023, atnorth announced the launch of their data center facility, ICE03, located in Akureyri in the north of Iceland. Due to the mergers & acquisitions, the operators are increasing their capacities. For instance, Ficolo, a data center firm and expert in hybrid cloud infrastructure based in Finland, merged with Verne Global to satisfy the data center demand in the country.


  • Market size available in the investment, area, power capacity, and Iceland colocation market revenue.
  • An assessment of the data center investment in Iceland by colocation, hyperscale, and enterprise operators.
  • Investments in the area (square feet) and power capacity (MW) across cities in the country.
  • A detailed study of the existing Iceland data center market landscape, an in-depth industry analysis, and insightful predictions about market size during the forecast period.
  • Snapshot of existing and upcoming third-party data center facilities in Iceland
  • Data Center Colocation Market in Iceland
  • The Iceland data center market investments are classified into IT, power, cooling, and general construction services with sizing and forecast.
  • A comprehensive analysis of the latest trends, growth rate, potential opportunities, growth restraints, and prospects for the industry.
  • Business overview and product offerings of prominent IT infrastructure providers, construction contractors, support infrastructure providers, and investors operating in the industry.
  • A transparent research methodology and the analysis of the demand and supply aspects of the industry.

Key Attributes:

Report AttributeDetails
No. of Pages79
Forecast Period2022 - 2028
Estimated Market Value (USD) in 2022$266 Million
Forecasted Market Value (USD) by 2028$543 Million
Compound Annual Growth Rate12.6%
Regions CoveredIceland


  • Existing Facilities in the Region (Area and Power Capacity)
  • Reykjavik
  • Other Cities
  • List of Upcoming Facilities in the region (Area and Power Capacity)

Investment Opportunities in Iceland

  • Microeconomic and Macroeconomic Factors of the Iceland Market
  • Investment Opportunities in Iceland
  • Investment by Area
  • Investment by Power Capacity

Data Center Colocation Market in Iceland

  • Colocation Services Market in the Iceland
  • Colocation Pricing (Quarter Rack, Half Rack, Full Rack) & ADD-On


IT Infrastructure Providers

  • Broadcom
  • Cisco Systems
  • Dell Technologies
  • Hewlett Packard Enterprise
  • Huawei Technologies
  • Hitachi Vantara
  • IBM
  • Lenovo
  • NetApp

Data Center Construction Contractors & Sub-Contractors

  • Mannvit

Support Infrastructure Providers

  • Alfa Laval
  • Carrier
  • Eaton
  • Legrand
  • Schneider Electric
  • Socomec
  • Stulz
  • Vertiv

Data Center Investors

  • Borealis Data Center
  • atnorth
  • Verne Global


IT Infrastructure

  • Servers
  • Storage Systems

Network Infrastructure

Electrical Infrastructure

  • UPS Systems
  • Generators
  • Switches & Switchgear
  • PDUs
  • Other Electrical Infrastructure

Mechanical Infrastructure

  • Cooling Systems
  • Racks
  • Other Mechanical Infrastructure

Cooling Systems

  • CRAC and CRAH Units
  • Chillers Units
  • Cooling Towers, Condensers, and Dry Coolers
  • Other Cooling Units

General Construction

  • Core & Shell Development
  • Installation & Commissioning Services
  • Engineering & Building Design
  • Fire Detection & Suppression
  • Physical Security
  • DCIM

Tier Standard

  • Tier I & Tier II
  • Tier III
  • Tier IV

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Icelandic Data Center Market

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