Press release
Data Center Construction Market on Track for Strong Growth, Estimated to Grow at 6.8% CAGR Through 2029
Data Center Construction
What Is the Expected CAGR for the Data Center Construction Market Through 2025?
In the last few years, the data center construction market has seen significant growth. The market is projected to rise from $260.49 billion in 2024 to $277.18 billion in 2025, with a compound annual growth rate (CAGR) of 6.4%. This progress in the past period is largely due to the increasing demand for data storage and processing, higher investments in digital infrastructure, globalization, and the growing need for colocation data centers.
What's the Projected Size of the Global Data Center Construction Market by 2029?
In the upcoming years, the market size for data center construction is predicted to witness significant growth, reaching $360.41 billion by 2029, growing at a compound annual growth rate (CAGR) of 6.8%. This growth during the projected period can be credited to the expansion of the digital economy, global data center expansion, the transition to cloud computing, increasing demand for edge data centers, and the rollout of 5g. Major trends of this forecast period encompass sustainability, green design, modular data centers, security and compliance, and data center as a service.
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Top Growth Drivers in the Data Center Construction Industry: What's Accelerating the Market?
The rise in data utilization within cloud computing is projected to fuel the expansion of the data center construction industry in the foreseeable future. Data utilization pertains to the volume of data uploaded or downloaded via a device, necessitating the need for more data center construction enterprises to build additional data center facilities. For example, a legal technology survey by the American Bar Association in November 2022 showed a substantial jump in overall cloud data usage from 60% in 2021 to 70% in 2022, with solo cloud users escalating from 52% to 84% within a year. Hence, the rise in cloud computing-based data usage is a major driving force for the data center construction market. Predicted growth in the data center construction market is largely driven by a surge in demand for cloud services. Cloud services encompass a vast array of on-demand computing resources and applications delivered via the internet. With the expansion of digital data, and booming technologies like cloud computing, big data analytics, and IoT applications, data storage demand has peaked. This escalating demand for cloud services directly impacts the data center construction industry, pushing providers to fulfil user requirements while delivering high standards of performance, reliability, and security. For instance, AAG IT Services, a UK-based IT and digital transformation service provider, reported in June 2024 that Google Cloud's revenue stood at $6.87 billion in Q3 2022, reflecting a jump from $4.99 billion year-over-year. By Q4 2022, Google Cloud's revenue soared to $7.32 billion, representing a 32% year-over-year growth. Therefore, we can expect the construction industry's growth to further stimulate the expansion of the data center construction market.
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What Trends Will Shape the Data Center Construction Market Through 2029 and Beyond?
Leading entities in the data center construction industry are focusing on the technological enhancement of their products through innovations such as Universal Data Hall Design (UDHD), aiming to increase their place in the market. The Universal Data Hall Design (UDHD) integrates common colocation components, with an emphasis on adaptability and capacity for expansion. It features a slab floor with perimeter cooling, making it ideal for large-scale, full-hall high-performance computing (HPC) applications. For example, in August 2023, US-based information management services company, DataBank Holdings Ltd., introduced an innovative UDHD approach for the construction of high-density data centers to accommodate high-performance computing (HPC). This design offers enterprises the flexibility to manage whatever the specific needs of their workload deployments are.
What Are the Main Segments in the Data Center Construction Market?
The data center construction market covered in this report is segmented -
1) By Data Center Type: Small-Scale Data Centers, Medium-Scale Data Centers, Large-Scale Data Centers
2) By Infrastructure: Electrical Infrastructure, Networking Infrastructure, Other Infrastructures
3) By Power Distribution And Cooling Infrastructure: Power Distribution, Cooling
4) By End-Use: Banking, Financial Services and Insurance (BFSI), Energy, Government, Healthcare, Manufacturing, IT And Telecom, Others End-Uses
Subsegments:
1) By Small-Scale Data Centers: Edge Data Centers, Micro Data Centers
2) By Medium-Scale Data Centers: Colocation Data Centers, Hybrid Data Centers
3) By Large-Scale Data Centers: Enterprise Data Centers, Hyperscale Data Centers
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Which Top Companies are Driving Growth in the Data Center Construction Market?
Major companies operating in the data center construction market are Google LLC, Amazon Web Services Inc., Microsoft Azure, The International Business Machines Corporation, Schneider Electric SE, Meta Platforms Inc., NTT Ltd., Turner Construction Co, STO Building Group Inc., Equinix Inc., DPR Construction Inc., Iron Mountain Inc., Digital Realty Trust Inc., Stantec Inc., SAS Institute Inc., Zayo Group Holdings Inc., Gensler, CyrusOne LLC, Hensel Phelps Construction Co., Cyxtera Technologies LLC, Fortis Construction Inc., QTS Realty Trust Inc., HITT Contracting Inc., TierPoint LLC, Sabey Data Center Properties LLC, Flexential Corp., Holder Construction Group LLC, Cologix Inc., Alfa Tech Consulting Engineers Inc., ipSpace.net AG.
Which Regions Will Dominate the Data Center Construction Market Through 2029?
North America was the largest region in the data center construction market in 2024. The regions covered in data center construction market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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