Pune, India, April 18, 2019 (GLOBE NEWSWIRE) -- The latest Market Research Future (MRFR) report states that the data center construction market will expand at a robust CAGR of 9.04% during 2018-2023. Proliferated adoption of the internet of things (IoT) devices is likely to be a primely contributing factor to the growth of the data center construction market. The global data center construction market is witnessing propulsion in growth due to the emergence of augmented reality (AR), virtual reality (VR), and cloud-based technologies, along with a high deployment of smartphones in developing economies.
Furthermore, the rapid emergence of data center facilities along with the immense amount of data consumed every day are also burgeoning growth in the global data center construction market. Rising demand for energy-efficient data centers is assessed to open up new growth avenues in the foreseeable future. The increasing use of low-heat emanating building materials is on the rise due to this. Reuse of waste and evaporative cooling are some of the green strategies adopted that are supporting the emergence of energy-efficient data centers.
However, with skyrocketed initial investments the market is likely to face some hindrance in capturing its ultimate growth potential. Companies, hence, have taken up investing in data center colocation. Varied new opportunities offered by colocation facilities as compared to the conventional data centers are said to drive substantial growth to the market. Furthermore, various benefits provided by data center construction like high-speed data centers, lower latency, and the work done in real-time are also promoting growth through the review period.
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Segmental Analysis
The global data center construction market is assessed in various segments for better understanding and accuracy. The market segmentation is carried out on the basis of design type, tier type, vertical, and region. Based on design type, the data center construction market is segmented into mechanical construction and electrical construction. The electrical construction segment is further sub-segmented into racked power distribution unit (PDU), uninterruptable power supply (UPS), transfer switches, and generators.
Based on tier type, the data center construction market is segmented into tier 1, tier 2, tier 3, and tier 4. The tier 4 segment is anticipated to dictate the global market throughout the assessment period. Tier 4 data centers are generally used in organizations with redundant and dual power instances of storage, power cooling equipment, and network links. Based on vertical, the data center construction market is segmented into BFSI, healthcare, media & entertainment, oil & energy, IT & telecommunication, and the public sector. The IT & telecommunication segment is likely to hold the largest market share for data center construction during the forecast period.
Canada to Witness 7.5% CAGR while China to Expand at 11.8% CAGR During Forecast Period of 2018-2023
The global Data Center Construction Market is reviewed in geographical segments of Europe, Asia Pacific (APAC), North America, and the Rest of the World (RoW). Among these, North America is likely to be the principal market for data center construction during the review period. With the increasing demand for data storage, security, and faster operation, the growth for data center construction is witnessing propulsion in the region. The U.S., Mexico, and Canada are investing heavily in the research and development of big data and analytics. This has highlighted the need for data centers to store and analyze data, boosting the market growth. The U.S. is projected to lead the country-specific market, followed by Canada and Mexico. Canada is anticipated to pose as the fastest growing market in North America, witnessing 7.5% CAGR during the forecast period.
Furthermore, the APAC is estimated to grow at the highest rate, thanks to the presence of the various nations with a very high population, a massive demand for telecommunication applications, and a large number of IT & software companies in the region. China is anticipated to lead the data center construction market in Asia Pacific and is expected to expand at 11.8% CAGR during the forecast period.
Key Players
The MRFR report has profiled some of the prominent players in the data center construction market including AECOM, Arup Group, Fluor Corporation, Gensler, Corgan, HDR, Inc., Page Southerland Page, Inc., Holder Construction Group, Jones Engineering Group, Structure Tone, Syska Hennessy Group, Aceco TI, Jacobs Engineering Group, and Turner Construction Company.
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Industry Update
April 2019: CoreSite Realty Corporation started its first phase of construction on CH2 colo data center which is 169,000 square foot in space. CoreSite has planned to build the 18MW CH2 facility in three 6MW phases. The total cost of the project is estimated to be between USD 190 million to USD 210 million.
February 2019: Actapio completed the construction of their second data center outside Japan (in the United States). The 16MW facility can house 1,600 racks and features a Japanese courtyard garden. Actapio is a Yahoo subsidiary, based out of Japan.
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