LONDON, Jan. 04, 2024 (GLOBE NEWSWIRE) -- As per The Business Research Company’s data center construction global market report 2024, the data center construction market has experienced robust growth, with the market size surging from $250.4 billion in 2023 to a projected $270.07 billion in 2024, marking a substantial compound annual growth rate (CAGR) of 7.9%. This data center construction market growth is attributed to factors such as the escalating demand for data storage and processing, increased investments in digital infrastructure, globalization, and the rising demand for colocation data centers.
Growth Potential:
The market is poised for continued strength, with the data center construction market expected to reach $364.67 billion by 2028, exhibiting a CAGR of 7.8%. Anticipated drivers of this growth include the expansion of the digital economy, the proliferation of global data centers, the shift to cloud computing, the increasing demand for edge data centers, and the rollout of 5G technology.
Learn More In-Depth On The Data Center Construction Market
https://www.thebusinessresearchcompany.com/report/data-center-construction-global-market-report
Key Drivers:
The data center construction market growth in both the historic and forecast periods is fueled by various drivers, including the exponential growth of the digital economy, the surge in global data centers, the transition to cloud computing, the escalating demand for edge data centers, and the rapid deployment of 5G technology.
Trends and Innovations:
Major trends in the forecast period include a focus on sustainability and green design in data center construction, the emergence of modular data centers, an increased emphasis on security and compliance, and the rise of data center-as-a-service models. These trends highlight the industry's commitment to innovation and adapting to evolving technological landscapes.
Role of Data Usage in Cloud Computing:
The surge in data usage, particularly in cloud computing, is expected to be a significant driver for the data center construction market. As cloud data usage continues to climb, the demand for additional data center spaces rises, necessitating the construction of data center buildings to meet this growing need.
How Players Can Leverage the Report:
Industry players can capitalize on the insights provided by the Data Center Construction Global Market Report to navigate market dynamics effectively. Understanding customer demands, staying abreast of technological advancements, and leveraging regional nuances will empower businesses to strategize effectively, enhance competitiveness, and scale their operations in the flourishing data center construction market. The data center construction market report offers valuable information on key players, market segmentation, and emerging trends, providing a comprehensive toolkit for industry players to make informed decisions and drive success.
Get A Free Sample Of The Global Data Center Construction Market Report
https://www.thebusinessresearchcompany.com/sample_request?id=12949&type=smp
Key Players and Market Segmentation:
Major players in the data center construction market include Google LLC, Amazon Web Services Inc., Microsoft Azure, and Schneider Electric SE, among others.
The data center construction market is segmented based on data center type (small-scale, medium-scale, large-scale), infrastructure (electrical infrastructure, networking infrastructure, other infrastructures), power distribution and cooling infrastructure (power distribution, cooling), and end-use (banking, financial services and insurance, energy, government, healthcare, manufacturing, IT and telecom, others end-uses).
Regional Dynamics:
North America emerged as the largest region in the data center construction market in 2023, showcasing the region's dominance in this evolving industry.
Data Center Construction Global Market Report 2024 by The Business Research Company provides insights on the data center construction market size, data center construction market segments, data center construction market trends, drivers and restraints, major competitors’ market positioning, revenues and market shares.
The Business Research Company has published over 7,500+ industry reports, covering more than 2,500+ market segments and 60 geographies. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.
Check Out Similar Market Intelligence Reports By The Business Research Company:
Data Center Liquid Cooling Global Market Report 2024
https://www.thebusinessresearchcompany.com/report/data-center-liquid-cooling-global-market-report
Data Center Accelerator Global Market Report 2024
https://www.thebusinessresearchcompany.com/report/data-center-accelerator-global-market-report
Data Center Infrastructure Management Global Market Report 2024
Learn More About The Business Research Company
The Business Research Company is a market intelligence firm pioneering in company, market, and consumer research. With offices all around the world, TBRC has specialist consultants in a variety of fields, including manufacturing, healthcare, financial services, chemicals, and technology.
Global Market Model – World’s Most Comprehensive Database
The Business Research Company’s flagship product, Global Market Model, is a market intelligence platform covering various macroeconomic indicators and metrics across 60 geographies and 27 industries. The Global Market Model covers multi-layered datasets which help its users assess supply-demand gaps.
