Dublin, Feb. 07, 2024 (GLOBE NEWSWIRE) -- The "Data Center Market Size & Share Analysis - Growth Trends & Forecasts Up To 2029" report has been added to ResearchAndMarkets.com's offering.
This report offers a comprehensive examination of the burgeoning Data Center Market, detailing the trends, growth trajectories, and market forecasts up to the year 2029. This extensive research provides a strategic overview of the market landscape, highlighting the key factors contributing to the projected annual growth rate of 10.90%.
IT Load Capacity and Infrastructure Development
The market analysis predicts a significant increase in IT load capacity, reaching an expected 71,965.5 MW by the end of the forecast period. This expansion is indicative of the growing demand for data processing and storage capabilities, spurred by the escalating consumption of digital services globally. Furthermore, advancements in IT infrastructures have led to an expansion of raised floor space, with projections estimating it to encompass 284.2 million sq. ft by 2029.
Installation of Racks and Colocation Facilities
The proliferation of data center racks is another facet of growth, with installed racks forecasted to hit the 14,206,878-unit mark. North America is anticipated to maintain its lead in the number of housed racks, contributing to the region's dominant position in the global market. As of now, the globe boasts 3346 colocation data center facilities, with North America holding a sizeable market share. The ongoing augmentation in fiber connectivity and power supply reliability, alongside the surging demand for data center services, is fueling construction efforts in both developed and developing regions.
Competitive Landscape and Tier Classification
In the competitive landscape, Digital Realty Trust Inc. emerges as a prominent player with a market-leading share of 8.5%. This commanding presence is fortified by the company's expansive IT load capacity and future expansion plans. With regards to market segmentation by tier, Tier 3 data centers are at the forefront, boasting an uptime of 99.982%. Europe is seen as a dominant force in this segment, with London and Dublin as significant Tier 3 data center hubs. The report forecasts that the region's Tier 3 segment will grow from 7,979.69 MW in 2023 to an impressive 12,110.18 MW in 2029. Conversely, Tier 1 & 2 data centers are likely to experience subdued growth, primarily accommodating the requirements of SMEs.
Regional Market Insights: North America, Europe, and Asia-Pacific
Geographically, North America continues to lead the data center market, largely anchored by Northern Virginia's industry prominence. Nevertheless, there are indications of a diversifying future market share due to maturation in the region, compounded by favorable regulatory and infrastructural developments in Virginia. In contrast, Europe offers diverse market pockets with varying land prices influencing investment shifts, notably within the FLAP-D metro markets. This geographical dispersion also includes Asia-Pacific, where Australia showcases considerable growth due to advancements in technology and renewable energy initiatives.
Industry Outlook
Reflecting a fragmented industry, the Data Center Market finds the top five companies occupying nearly 26.99% of the market space. This represents a dynamic and competitive market landscape with players such as CyrusOne Inc., Equinix, Inc., and Vantage Data Centers, LLC striving for market supremacy.
A selection of companies mentioned in this report includes:
- AirTrunk Operating Pty. Ltd.
- Chindata Group Holdings Ltd.
- CyrusOne Inc.
- Cyxtera Technologies
- Digital Realty Trust, Inc.
- Equinix, Inc.
- Flexential Corp.
- NTT Ltd.
- Quality Technology Services
- Space DC Pte. Ltd.
- Switch
- Vantage Data Centers, LLC
For more information about this report visit https://www.researchandmarkets.com/r/ezyfdf
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Attachments
- Data Center Colocation Market Data Center Market C A G R By Tier Type 202
- Data Center Colocation Market Data Center Market C A G R By Region 2023
